Obtain Your Free Monthly Budget Planner Here to Save Money

Disclaimer: I am not a financial advisor. You are trading at your own risk and should consult a financial advisor for any investment decisions. Do your own due diligence when considering investing, and this information is for education/informational purposes only. The article “Obtain Your Free Monthly Budget Planner Here To Save Money” serves as educational content, not investing advice.

I have created a free personal monthly budget spreadsheet for you to use in your financial planning.

To me, this is a great money management tool to use if you are looking to budget the amount of money you will spend on your monthly expenses. Or, if you’re just simply looking for an income and expense tracker (or a monthly expenses calculator), this is also a tool that you will enjoy.

I have tried to make the worksheet as simple as I could while providing many features that you will find helpful and making it very simple to use. You are also free to use this as a personal budget template to create your own.

So today, this article is designed to break down the monthly budget planner and inform you of these different features.

Why I created it:

So let me start with why I decided to create the monthly budget worksheet in the first place.

It’s a straightforward explanation in that I wanted to create a budget worksheet for myself. It was about time that I had an Microsoft Excel file that would allow me to track my monthly expenses and compare them with previous months.

I elected to do a monthly worksheet rather than a weekly worksheet because I found I would be more motivated to do it in the span of a month rather than trying to keep up the weekly task. In the end, I may save myself some time, and still, I find that the worksheet is adequate for my own needs.

Throughout creating the spreadsheet, I have also allowed some of my friends to use it for themselves and, of course, test it out to ensure the modifications and adjustments worked flawlessly.

So, through that, I decided that it would be an excellent idea for me to make this a free printable monthly budget planner accessible for anyone in public for free so they may reap its benefits just like we are.

It isn’t necessarily a budget calculator, where it gives you suggestions on what amount you should attempt to save or earn in a month. Input your based as a household budget if you plan to use it to include members of your home. Hey, budgeting matters and is a great way to teach anyone about being better with their money, just as they should be careful with their credit cards or credit score.

Just as a quick side note, if you experience any technical issues with the budget spreadsheet, please reach out to me through the contact page or just simply by emailing [email protected].

When creating a personal budget, what should you include?

This is an excellent question to answer as it will explain the different sections of the spreadsheets throughout this article.

Whenever I was creating this worksheet, I wanted to include as many expenses possible. I wasn’t necessarily focused on the income and adding as many income sources possible. It’s likely that I and others included will run into numerous expenses that come from various sources than having a long list of incomes.

Admittedly, I probably have not included every name of an expense you can think. It would take me a substantial amount of time to think of all these names.

Therefore, you can include them yourself. I have created some rows where anyone can enter in the name of expenses to help them track costs that may regularly occur but do not have a row dedicated.

But if I were to create just a straightforward budget spreadsheet from the start, I would include a column where I can input my budgeted figures. Another column will display the actual costs or income I have generated. After that, I would include one more column to demonstrate the difference between the actual and the budgeted to analyze where I may have overspent or underspent. Viewing the difference will allow me to adjust accordingly for the next period.

It would also be tough for you to do a daily budget. Not saying that you couldn’t do it, but I feel like it would be very time-consuming to keep up with and too much to handle.

To me, the period of a month will allow myself to use the spreadsheet over a prolonged time. Of course, this all depends on your own needs, so if you’re looking to create your personal monthly budget spreadsheet, create the way that you will benefit the most from.

Incomes:

budget your incomes

Next, I’m just going to highlight some of the different sections that you will find and the monthly sheet. I will also show images so you can look at them as well.

As you can see via the picture above, I’ve only included three different income sources. The reason behind that is that I don’t expect everyone to have seven or more monthly income sources.

I do not know where your income stems from, and I don’t need to know. Looking back on this now, I could always have included a row dedicated to business income or freelancing income.

If there are specific adjustments you want to see me perform, reach out to me, and I can do that for you, but if you are comfortable with doing it on your own, you can always add additional rows to display your additional incomes for more efficient tracking.

Otherwise, if you’re comfortable with including it under other income that is where I would include any income besides what’s listed under the other two rows.

Necessary Expenses:

budget your necessary expenses on your monthly budget planner

The following two sections are broken up, and I will discuss why down below.

But as you can tell by these headings, these are what I deem necessary expenses, and that’s the key word here. Our definition of essential and the expenses we can include may differ, which I understand.

My reasoning behind including the expenses that I did was based on the need for survival and importance. Not to say that entertainment is not essential to have and to unwind, but these other expenses such as insurance, groceries, and kids are undoubtedly crucial.

Most of them could be everyday expenses you would even yourself deem necessary.

There is a section dedicated so that you can name the types of loans you’re making monthly payments on. Further down below, there’s a loan breakdown where you can calculate more information to help your decision-making, which I will address further below.

Any total amount should be calculated below under the row dedicated for total necessary expenses. You can determine the amount you are paying for these expenses and hopefully make appropriate adjustments where needed.

Non-necessity expenses:

budget your non-necessary expenses on your monthly budget planner

As you might have guessed in contrary to the necessary expenses, this section is dedicated to those expenses that are not as important. Most of them are more so considered wants than needs.

This is why you’ll find many expenses such as alcohol, subscriptions, and entertainment. And in no means am I trying to bash the fact that you should not spend money on any entertainment or yourself.

I see the importance of unwinding and relaxing for a little bit of the day to reward yourself.

I have listed a couple of rows, so you can fill it out some expenses already not listed. Obviously the amount and the name will help you track these expenses throughout the months, if they are regularly occuring.

Why did I separate total expenses into two categories?

The answer to this question is psychological/behavioral-based.

It’s designed to help influence you to look at how you’re spending your money. If the majority of your expenses come from needs or if they come from wants.

When you find that you’re spending more money than you are generating in a month, you will be influenced to go back and look at where the expenses arise from. And if a majority of those expenses are from your wants rather than your needs, you would adjust accordingly.

Meaning that you would cut back on how much you’re spending on these, either maintain or change the way you spend your money on your needs, and therefore, at the end of each month, you are left with some cash left over to invest, save money, etc.

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A shocking moment may also arise when you are inputting the expenses you have spent for a month. If the non-necessity spending is higher than what you have expected or budgeted to be, that could incentivize you to cut back on spending to keep more money at the end of months going forward.

Otherwise, if they were just combined into a general expenses category, some of these behaviors with your spending could go unnoticed. There’s always a chance that you would notice it regardless, which is excellent, but this helps me generate more awareness and appropriate action with unnecessary spending on wants.

Cashback after necessary spending/free will spending:

These are based on the income you have generated for the month subtracted from the total expenses.

This allows you to look at the difference between your spending on wants and needs to ultimately determine the amount of cash you can use for other purposes.

However, with the cash left after free will spending, it is the amount you can use for other purposes. Meaning that you won’t spend it on expenses because that would just be added to the costs, and therefore, you would have less cash left after free will spending.

Emergency Fund Breakdown:

emergency fund breakdown on budget

A section is dedicated to analyzing your emergency funds.

As you can see, the first one, which is just your $1,000 fund, allows you to analyze what it was at the previous month as well as if there was any change so whether you had to use it during some points or if you’re adding to balance it out.

Under the total amount, there is a calculation of the uses or the additions depending on your financial situation for the month.

The same goes with the 6 to 12-month emergency fund row. If you want to change this out and have a shorter emergency fund or a longer one, you can certainly do that. Just swap out the name.

But these are added to help you more efficiently analyze your funds instead of having to work a separate worksheet or view your bank accounts to look at the amounts.

Again, this helps you look at your overall financial picture for the month, which is my aim for developing this budget spreadsheet.

Investment accounts:

budgeting for your investment accounts

Another cool feature that I enjoyed implementing was the breakdown of the investment accounts.

I only put down three different investment accounts that I typically think the average person may have: a TFSA, an RRSP, or an RESP.

Like the section on emergency funds, you can look at your previous contribution room from the month prior and the monthly contributions you have made.

What I would recommend for the previous contribution room, which you can view under the example sheet, is to have your total contribution room listed (including contribution room from years prior). This way, you can thoroughly look at the total amount of contribution room you have available to you regardless of whether you will contribute fully to it or not.

If you want to add an investment account or don’t use one of the investment accounts and want to swap it out for a different investment, you are certainly welcome to.

But to me, this is just a nice little feature to be able to look at your monthly contributions as well as being able to look at the amount of contribution room that you’re going to be able to carry forward to the next month or, of course in some cases to the following year.

Savings/Loan Breakdown:

viewing your savings and breaking down your loans with your monthly budget planner

The savings section is a tiny section based on your amounts of cash after you have paid all of your expenses and whether or not you’ve contributed to your emergency funds and investment accounts.

I did add the rows where you can look at the monthly change in your savings and obviously how much you’ve had previously in your savings account.

Underneath, I’ve included a little section based on the loan breakdown. This was requested by one of my friends who have been using the spreadsheet. Props to them for recommending it.

You are able to name each of the loans or debt you have and look at the beginning amount. Then you can view the principal amount that you have to pay and the interest. If you don’t know what the principal and interest are separate, you can add them to the total amount paid for the month.

Then, of course, it will calculate the closing amount or the amount due for next month or the next payment date.

You may use this to look at your high-interest debts and I even included a few questions underneath. I find that including the few questions there and the breakdown leads me to question whether or not I can pay off a particular debt faster.

Having a debt that costs you a large percentage of interest isn’t ideal for keeping around long. Being able to sort that out and look at how much it costs me every month can, force myself to figure out a strategy and get that paid faster.

Well, I thought it was just a nice little feature. I hope that you find the same and you can find its effectiveness whenever you’re able to question your financial situation and, of course, your debt.

Monthly changes:

analyze monthly changes with budget

Another feature I added was the monthly change of columns.

I’ve done this so you can look at whether or not your incomes and expenses have increased by how much percent and in dollars.

Anything that would stand out as high or very low may cause you to do some follow-up, and therefore, you may discover that you’re paying too much or too little in something.

Again, it’s another reason for you to use this as your financial planning tool and view your overall financial picture.

Think of the spreadsheet as a balance sheet. A balance sheet for a company represents its health and, of course, the overall picture of how well the company is doing. This spreadsheet here should mean that but more on a personal level.

Again, these will automatically populate whenever you have filled out data on the previous and current months.

Year-end charts and comparisons:

comparisons for year end results

You can view the monthly comparisons and income, expenses, investing contributions, and more.

I have dedicated a sheet for you to further and better analyze these monthly comparisons and a chart format.

It allows you whether add a certain period of the year every month or, of course, at the end of the year to look back and view where income was the highest and maybe expenses were the lowest.

Again this is all to encourage you to review and think about how you might be able to improve your situation. For example, if you are paying way too much and insurance, I need some extra money. Well, of course, you’ll look for cheaper insurances or Insurance packages.

You can also view the total amounts of your income expenses investing contributions are more in a dollar amount. This is good once again for reflection and planning for the next year and looking for ways to improve your financial picture once again.

I’ve included all these to provide more value for you and have everything in one place. So you don’t have to go to different checking accounts to check the balances of your emergency funds or savings accounts to check these funds or even check your brokerage account for investment contributions.

This spreadsheet provides convenience and access to all this information once inputted and is easily accessible to you at any time.

You can download this spreadsheet on your computer or phone, meaning that you can take it with you wherever you go.

How to sign up:

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This monthly budget planner is complimentary if you sign up for the newsletter.

You can either refresh this page and wait for the pop-up to display, or you can go to the very top of the post/page, and on the right-hand side, you’ll see there is an area where you can fill out some information and receive it via email.

It may take a short amount of time before it is sent out via email, but please keep an eye on your email and give it a little time before trying to sign up again.

If you are already signed up, then you will not be able to obtain multiple budget worksheets.

Newsletter:

To speak briefly about the newsletter, it allows me to connect with you, the reader, personally. In this newsletter, I will be discussing some personal details of myself, what I’m currently researching and reading, and what you might be interested in is behind the scenes work of future articles and giveaways.

Yes, I will be doing giveaways here soon, and the best way to stay in touch regarding a new giveaway is to sign up for this newsletter. You will be the first to know when a giveaway is live or going to happen very soon.

As well each newsletter will feature a section that is dedicated for question of the month. This is where you can submit your questions to me so I can review and answer them. The way it works is that a survey will be included in the newsletter itself, and you have to follow the link and put in your question.

The most popular question or sometimes questions will be answered by myself in the following newsletter.

You get some inside details that are not discussed on the blog, and of course, get a great chance to win some fantastic prizes.

So please consider signing up today and not only getting your free monthly budget planner but staying for the newsletter to learn more about personal finance.

I thank you for spending some time here today and reading this article. If you have any questions about the printable budget worksheet (did I mention it was printable?) or the newsletter, please reach me using the contact page on our website.

If you did not receive an email with the budget spreadsheet after signing, of course, please let me know, and we can get that fixed as soon as possible.

Check out my article on Diem Coin here!

Disclaimer: I am not a financial advisor. You are trading at your own risk and should consult a financial advisor for any investment decisions. Do your own due diligence when considering investing, and this information is for education/informational purposes only. The article “Obtain Your Free Monthly Budget Planner Here To Save Money” serves as educational content, not investing advice.

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