Excel Family Budget Template

This excel family budget template can help in effectively managing your finances. It gives you comprehensive details on your income, savings, and expenses on a monthly basis. The family expense tracker is designed to track details of your expenses from the month of January up until December.

This family budget planner is a convenient tool to use since it features formulas, thus, calculations are auto generated. While there are sections which cannot be edited because of these formulas, the rest of the sections are mostly customizable. You can delete/add rows as well as edit any of the labels/headings provided to suit your needs.

By using this monthly family budget worksheet, you can track your monthly expenses more easily. Aside from your expenses, your income and savings are also recorded in this template. Therefore, if desired, you can always check how much you earn, spend, and save within a specific month. You can also just pull up the template anytime for any changes or updates.

To complete this household budget, just fill out the sections applicable to you. This excel budget template features various sections - the uppermost part includes sections covering the month of Jan–Dec, starting balance (balance in account), total income, total expenses, NET income, and projected end balance. A separate table is provided underneath that to cover columns for source of income, savings, and expenses. For the expenses, it’s classified into the following expense areas – home, transportation, daily living, entertainment, health, and vacation/holiday. Additionally, a section for the monthly expenses is highlighted at the lowermost part of this template to give you details on how much you are spending each month.

Instructions in using the Budget Template:

1. Enter income. Enter the amount of your income under the category that’s applicable to you. Example: if your salary/wage is your source of income, enter that amount on the same row as salary/wage.

2. Enter savings if there’s any.

3. Enter amounts of expenses under expense areas applicable to you. Each expense area has a sample list of expenses, so you can enter the amount of expenses on areas that are applicable to you. Once these figures are entered, the section for monthly total should autogenerate calculations.

Each expense area has its respective monthly total section, however, if you want to look at the overall monthly expenses, it’s highlighted at the uppermost (under total expenses) and lowermost (under monthly expenses) parts of the template.

You can also edit the list of expenses featured in this template to suit your needs. Additionally, areas/sections you don’t need can either be left blank or deleted.

4. Review your monthly expense budget summary. The summary for your monthly expense budget should be displayed at the uppermost part of this template. It should cover the following sections:

• Starting Balance (Balance in Account) - refers to the money you currently have in your account on top of your monthly income. You can choose to enter this information or not.
• Total Income – displays your total monthly income
• Total Expenses – displays your overall monthly expenses
• NET Income – displays the difference between your total income and total expenses
• Projected End Balance - displays the sum between your starting balance (if there’s any) and NET Income. If section for starting balance is left blank, the projected end balance field should display the same data as that of the NET Income. It should also be noted that if your NET Income and Projected End Balance are displayed in red, it means there’s a shortage in your budget.