Simple Budget Spreadsheet – Shows Periodic Income and Expenses

A simple budget template refers to the budget prepared to handle the finances by a person where the budget starts entering all the sources of income for the period under consideration like monthly, weekly, yearly, etc., Then, list down the bill against which payments are due and all other expenses incurred during the period. Lastly, derive the savings during the period by deducting total expenses from the total income.

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Other Versions

  • Excel 2003 (.xls) OpenOffice (.ods)CSV (.csv)Portable Doc. Format (.pdf)

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About the Simple Budget Template

  • It is a simple worksheet of generally one page, which shows the periodic income and expenses. These income and expenses are unlisted in detail transaction-wise. Instead, they group into some of the handful of categories, which can broadly highlight the individual’s crucial types of income and expenses.It is so because bifurcating and listing all the expenses is time-consuming and will not make the budget simple any longer. But on the other hand, the budget, which is simple in real terms, will let the person know the budget in very little time.

Elements

Following are the different details that are generally present in the template:

#1 – Heading:

One must write the heading simple budget template at the top of the simple budget template. Such a heading will clarify to the user of the template that the template pertains to the simple budget. This heading, as mentioned, will remain intact and will not be changed from individual to individual.

#2 – Summary:

This summary contains the details of the total income and details of the total income. These details will be taken automatically from the value in the below-mentioned steps.

#3 – Income:

Under this, it will mention all the income of the individual. Further, it divides into the following categories:

  • First, net salary or wages received in hand.Additional income is received from other sources like side business income etc.

The total of both the above income will give the figure of the person’s total income during a particular period.

#4 – Expenses:

Under this, it will mention the individual’s expenses by categorizing them into specific groups. Further, it divides into the following categories:

  • Rent paid on the Property: This includes the total rent paid by the individual during the period.Grocery Expenses: This includes the total grocery expenses paid by the individual during the period.Utility Expenses: Utility ExpensesUtility ExpensesUtilities Expenses are the prices incurred by a Company for the usage of utilities like sewage, electricity, waste disposal, water, broadband, heating, & telephone. These are included as operating expenses in the Company’s income sheet. read more include the total bill of utilities paid by the individual during the period.Transportation Expenses: This includes transportation expenses paid by the individual during the period.Medical Expenses: This includes the total medical expenses paid by the individual during the period.Education or Knowledge up-gradation Expenses: This includes total expenses paid by the individual in his education-related areas.Entertainment Expenses: Total expenses incurred on entertainment;Travel Expenses: Total expenses incurred on travel.Interest Payments: Total expenses incurred on interest payments.Debt Repayments: Total debt amount repaid during the period;Credit Card Expenses: Total bill of credit card paid.Shopping Expenses: This includes the total expenses paid by the individual during shopping.Miscellaneous Expenses: This includes any other miscellaneous expenses paid.

The total of all the above expenses will give the figure of the total expenses of the person during a particular period.

#5 – Savings:

The individual savings are calculated by subtracting the total expenses from the total income.

#6 – Allocation from Savings:

Under this, it will allocate the savings calculated for different purposes. An individual can modify areas where the savings allocates and the percentage of such allocation per their situation. Then, the amount automatically calculates using the specified percentages.

How to Use this Simple Budget Template?

Following are the steps to use the template:

  • Individuals using this template will have to enter all the details required in the fields that are not already pre-filled.This first detail of the income includes net salary or wages received in hand and must enter any additional income from other sources.Along with the income details, one must enter all expenses incurred by grouping them into categories. E.g., rent paid on the property, grocery expenses, utility expenses, transportation expenses, medical expenses, education or knowledge, up-gradation expenses, entertainment expenses, travel expenses, interest payments, debt repayments, credit card expenses, shopping expenses, and miscellaneous expenses. However, if the individual thinks another category counts for an essential portion of their expenses, it can be added to the template.After that, deducts the total of all the expenses from the total income earned to know the total amount left, i.e., the savings.Now, the template will automatically provide the summary and the allocation of the person’s savings. The individual can also modify this allocation area or percentage of allocation according to their requirements.

This article has been a guide to the Simple Budget Template. Here, we provide a free downloadable simple budget spreadsheet prepared to handle a person’s finances. Also, you can download and use this template in Excel, Google Sheets, or PDF format.

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