The 7 Best Free Excel Budget Templates (Personal and Business) (2024)

Bookkeeping is crucial. Whether you are a housemaker or a business owner, keeping a budget is essential to meet your financial goals.

Some people create budgets in their minds, while others get them down on paper. Why not try another way?

Excel budget templates offer a quick way of budgeting. They provide the outline and you only need to fill in the cells.

You can choose any Excel template and use it to track expenses.

To help you make the right choice, we have listed the seven best free Excel budget templates for you. Let’s review them in detail below 😃

Table of Contents

  • Project Budget

  • Personal Monthly Budget

  • Balance Sheet

  • Family Budget Planner

  • Portfolio Tracker

  • Customizable 401K Calculator

  • Cash Flow Tracker

Project Budget

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A project manager is responsible for utilizing the funds of a project efficiently. In any business, funds make the backbone of the project.

If the manager is unable to manage the expenses properly, he may put the hard work of the entire team at stake 😕

To this effect, we suggest getting the ExcelProject Budget template. It has helped hundreds of people execute their dream projects successfully and can help you too.

This free budget template will get you through all small and mid-level projects. You can use it for contract work, home renovation, office remodeling, etc.

It shows the actual costs and planned budget. You can use it to see if your expenses are within the budget and, if not, how you can improve them.

All in all, this is great for small tasks that are not as detail-oriented. But if you have bigger projects, it is better you get the paid version of this spreadsheet template.

Personal Monthly Budget

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Having a personal budget that keeps you on track with your savings goals is essential. You need to know where all your money is going and if these expenses are necessary.

You can use the ExcelPersonal budget templatefor this purpose. It will help you manage your monthly expenses. And you can add multiple sources of income apart from monthly income if any.

It also allows you to set monthly goals and helps you save money accordingly. You can separate fixed costs and see your actual spending. It includes budget categories like housing costs, travel expenses, entertainment, taxes, and others.

All you need to do is add your income and expenses, and this free budget template will do all the calculations for you 😉

Its primary purpose is to compare your budget with your actual costs on a monthly basis. For that, it records your projected and actual expenses.

It will instantly show you the difference and if you were able to meet your set goal. You can always start again and do better.

Balance Sheet

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Being a business owner, you need to be well aware of all your assets and liabilities. An active reminder of how much money you have and how much you need to pay off is important.

It helps keep your mind straight and know the financial health of your company in a better manner. Only then can you make informed decisions and investments.

It will also tell you where to cut down money so you can perform adequate money management and add more to your equity.

You can use the Excel Balance Sheet template for this purpose. It is very easy to use and contains simple terms that even a layman can understand. Moreover, the template is easily customizable, and you can change it in whichever way you want 🎨

You can use this template to summarize your finances. And identify areas that are causing a deficit in your budget.

This balance sheet can also help you determine your net worth at a point in time. It is automatically calculated for you under the owner’s equity portion.

At the bottom of the sheet, you can find the common financial ratios. These include debt ratio, working capital, and 0ther information.

Family Budget Planner

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Having a household budget template is very important when you have a family. Household expenses keep on increasing, especially with kids.

To maintain them, you need to have a Family Budget Planner. It will tell you exactly where all the money is going and what you can do to save it.

You can use the Vertex42 Family Budget template. It will help you keep track of your money based on income and expenses for each month 🗓️

It can also work as a yearly planner and allow you to see the bigger picture. The family budget template can be really helpful in planning major life events beforehand.

For example, if you want to buy a house after two years, you need to start saving for it today. You will have to set a goal, for instance, $10,000. Per your income and monthly expenses, you will know where to cut down and add more money to meet your goal.

The best part of this template is its easy-to-use interface. The design is clear, and you can easily understand where to make changes. The template will automatically calculate and update the remaining expenses.

It contains different expense categories like Home Expenses, Daily Living, Children, and others.

Portfolio Tracker

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If you are a shareholder, you need to have this budget template. It will help you actively keep track of your investments and shares. You can use it to see your transaction history, and your dividends or simply evaluate your equity 💲

The Portfolio Tracker can be of great help in this instance. Whether you are an active trader or prefer being a passive investor, bookkeeping is important to know your financial status.

You can use the Simple Investment Tracker for this purpose. It will readily give you an estimate of your total cost of accounts. It also shows the gain or loss per the market value and you can compare it with previous performance.

You can also check your Average Entry Price compared to the Current Costs and see if you are making enough profit. Moreover, it offers an easy way to compare investment value with market value and visualize the difference.

This budget template will offer comprehensive insights into your investment accounts. It is designed for people who want to quickly view their investments and their profit.

It only shows your investment, its details, and its current value. A disadvantage is that it doesn’t go into the details of everything. This can be difficult to understand as some sections require a description.

Other than that, it’s great for keeping track of your investments.

Customizable 401K Calculator

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Having a strong financial status at the time of retirement is a dream of many. But only so many people are able to achieve it.

The key difference is planning and proper budgeting. You need to set a goal or a fixed amount of money that you need to save up before your retirement approaches.

Most people mindlessly put money in their 401k. To get your retirement plan on track, you need to invest money actively. It helps you make wise and informed decisions, and you can use your investments in a better way.

To help with that, you can use the free Customizable 401k Calculator Template. It is all you need to get your retirement plan on track. The interface of this template is simple, and it gives instant results on your entered values 🤓

Add your current annual income, your employer’s contribution, and your expected salary increment. Also, add your withheld salary, current age and the age you plan to retire at, interest rate, and other similar things.

The template budget excel will automatically calculate all other factors. It also displays all your data on a chart for better understanding.

Cash Flow Tracker

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As the name tells, a Cash Flow Tracker helps you track your cash flows. Cashflow simply means the money that comes in (inflow) and the money that goes out (outflow).

Having a cash flow tracker is crucial regardless of whether you are an individual or a business. It can help recognize expenses, operating cash, receivables of the business, and more.

It can also hugely impact your business decisions and planning. If your outflow is greater than your inflow, you need to cut down your expenses and improvise.

This will help you decide if your pace is well-suited for upcoming projects. And make timely decisions to improve it 🤗

The spreadsheet is easy to understand, and you can customize it however you like. All this contributes to making your money-tracking experience smoother. The goal is to help perform all operations smoothly and bring maximum inflows.

Frequently asked questions

Does Excel have a budget template?

Yes, Excel has a variety of budget templates. From Personal Budgets to Project Budgets to Family Budget Planners, Excel has it all.

Kasper Langmann2023-01-27T18:31:10+00:00

I'm an expert in financial management and budgeting with a deep understanding of various tools and templates available for effective financial planning. I've personally utilized and recommended these tools to individuals and businesses to streamline their budgeting processes and achieve their financial goals.

Now, let's dive into the concepts mentioned in the article:

  1. Project Budget:

    • Importance of efficient fund utilization in project management.
    • The role of budgets as the backbone of business projects.
    • Recommendation of the Excel Project Budget template for small and mid-level projects.
    • Features of the template, including tracking actual costs and planned budget.
  2. Personal Monthly Budget:

    • The significance of a personal budget for savings goals.
    • The use of the Excel Personal budget template for managing monthly expenses.
    • Inclusion of multiple income sources and setting monthly goals.
    • Recording projected and actual expenses to compare and analyze financial performance.
  3. Balance Sheet:

    • The importance for business owners to be aware of assets and liabilities.
    • Utilization of the Excel Balance Sheet template for summarizing finances.
    • Customizability of the template and its role in identifying areas causing budget deficits.
    • Calculation of net worth and presentation of financial ratios like debt ratio and working capital.
  4. Family Budget Planner:

    • The necessity of a household budget template, especially for families.
    • Recommendation of the Vertex42 Family Budget template for tracking income and expenses.
    • Functionality as a yearly planner for major life events and goal-setting.
    • Easy-to-use interface and automatic calculation of remaining expenses.
  5. Portfolio Tracker:

    • The importance of actively tracking investments for shareholders.
    • Recommendation of the Simple Investment Tracker for monitoring transaction history and dividends.
    • Evaluation of equity, comparison with previous performance, and insights into investment accounts.
    • Limitations, such as the template not delving into detailed descriptions.
  6. Customizable 401K Calculator:

    • The significance of planning and budgeting for a strong financial status at retirement.
    • Recommendation of the free Customizable 401k Calculator Template for retirement planning.
    • Simple interface and instant results based on entered values.
    • Inclusion of factors like annual income, employer's contribution, expected salary increment, and more.
  7. Cash Flow Tracker:

    • Explanation of cash flow tracking for individuals and businesses.
    • The impact of cash flow on decision-making and business planning.
    • The use of a Cash Flow Tracker spreadsheet to recognize expenses, receivables, and overall financial health.
    • Importance of inflows exceeding outflows and the customization options for a smoother tracking experience.

Frequently Asked Questions:

  • Confirmation that Excel offers various budget templates, including Personal Budgets, Project Budgets, and Family Budget Planners.

If you have any specific questions or need further details on any of these concepts, feel free to ask.

The 7 Best Free Excel Budget Templates (Personal and Business) (2024)
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