Are you new to budgeting or tired of overly complex budget templates? This super straightforward monthly budget template is an absolute game changer! It stays laser focused on the parts of budgeting that really matter, making the template ideal for beginners and anyone who wants to get their finances in order without the headache.
Key features of the monthly budget template
Here’s why I love this simple but effective budget template:
- Tidy categories: Say goodbye to financial chaos. This template neatly categorizes your income and expenses, keeping you organized and focused on your financial goals.
- Automatic calculations and updates: The template automatically updates the balance column, eliminating the need for manual updates (and manual math).
- Visual budget tracking: A built-in bar chart offers a quick, visual snapshot of where your budget stands.
Customize your template with a donut chart
One of my favorite tweaks to this template is adding a donut chart. This visualization is a simple and effective way to see how much of your income is already earmarked as an expense.
To add a donut chart to your own template:
- Highlight the amounts and labels for the Expenses in row 4 and the balance in row 6.
- Go to the Insert ribbon, select Charts, and select Donut Chart from the Pie Chart dropdown.
- Rename your chart by double-clicking on the Chart Title box (I call mine “Monthly Income Analysis”).
And that’s it! You now have a convenient way to monitor the ratio between your income and expenses, helping you take immediate action if your expenses start to outpace your income.
Remember, budgeting doesn’t have to be a chore. With tools like this monthly budgeting template, you’re equipped to manage your finances with ease and clarity.