Monthly Budget Excel Template

How to Create Monthly Budget Excel Template

Monthly Budget Excel Template: Excel can be a really useful tool if you know how to use it correctly. Once you’ve been through all the hard work that it takes to learn the main aspects of it which can get quite tedious. It’s like you’ve opened the Pandora’s Box, it can give you the opportunity to do a lot of things. These include creating graphs, charts, diagrams, creating complex algorithms to solve problems etc.

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Business managers, executives and stake holders have used it to visualize sales data, create key performance indicators, scorecards etc. You can even use it to create your budget if you want to whether weekly, monthly and yearly. It’s up to your preferences and organization’s goals.


Monthly Budget Excel Template


It’s also pretty easy to create a budget template. If you are a beginner it doesn’t take a lot of know how to even get started in Excel and create it. If Excel is pretty foreign to you getting started by creating a budget can help you in your learning curve. Below is a simple tutorial that you could follow in creating a monthly budget template.

Creating Monthly Budget Excel Template:

Step 1

Open up a new Excel spreadsheet. Insert the months in the spreadsheet of how long you want the budget to last for. Make sure to insert the name of each month in an individual cell. You must align your months across in an orderly fashion; this will help you to visualize it better.


Step 2

Vertically on the far left corner, you are going to insert the different values that you want to see in your budget. That you are going to track for from top down. To do this you are going to divide this area in two parts your income and expenses.

For your income section these would be like sales numbers, royalties etc. Expenses would include advertising cost, selling expenses, payroll etc. You are going to use the income and expense as headings. You are then going to insert the name of the different items of your budget that you are going to track under each heading.
Step 3

The great thing is Excel is the software behind the scenes that’s keeping Excel running is really smart. So you can put in calculations that will help to calculate your figures which Excel can do automatically once you’ve got it set up. To set up the calculations, you are going to create two total cells one for income and expenses.

These will be placed at the bottom under each category to calculate everything. Next you are going click on the first total cell which would be the income cell.

You are going to click on the auto sum feature which is on the home tab. Next click on all the cells that you are going to include in the total. These are going to be the different items under each of the heading. The cells will be highlighted and then you are going to click enter.


Step 4

Once all of that is finished which is quite easy, the formula is going to in the cell automatically. Another great thing you could do if it’s required for your unique budget. Copy the cell which has the formula in it and paste it into other cells which are needed to use that same formula.

After you’ve finished with the income section, you are going to replicate that same method in the expenses part.
Step 5

You are going to need to know the difference between your income and your expenses. To do this, firstly you got click on the cell where the calculation should be made. Click on auto sum, choose the first value you want to use in your calculation. This would be the income total; you are going to then click on your keyboard minus button. Then tap on the control button, while holding it down, choose the second number you are going to include.

For this tutorial it would be the expenses total. Next click on enter and you’re done; your calculation is complete. You can copy this calculation if it’s needed for your specific project in Excel.
Step 6

After the calculations are installed you are now finished with the hard work. Let Excel handle the rest. All you got to do is insert the different values in the income and expense are.

Next you can just sit back and let Excel handle the rest and allow it to work its magic. If you are interested you can format the letters by using the formatting section. This can help you to manipulate the fonts to make it look better. You can see a diagram of how it should look below.

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