HOW TO USE PERSONAL MONTHLY BUDGET

It’s no secret that one of the best ways to manage your finances is by having a personal monthly budget. You can also use this to calculate the income needed based on the following budgeted expenses, including groceries, transportation, utilities, health care and so on. However, the problem lies with drawing an effective budget that gives you the freedom that you need and at the same time helps you to meet your financial goals. That’s where our adaptive personal budget template in Google, Personal Budget Template in Excel, and a budget planner app comes in handy. We call it adaptive because you can tailor it to suit your financial needs.

ADVANTAGES OF PERSONAL BUDGET TEMPLATE

There are several advantages of a personal monthly budget template. These include:

• It helps you to save money

Using a personal monthly budget template allows you to map out a perfect strategy to save money. Saving is a very difficult venture for most people. It is a dream we all have but lack the will and desire to accomplish. However, having a guide such as a personal monthly budget template is the first step in the right direction. Like a blueprint, it guides you every step of the way in your “saving” journey.

• It helps you to develop financial discipline

To be able to save money, you require a lot of discipline. There is no way you can develop that discipline if you have no personal monthly budget template to guide you. It enables you to stay focused on achieving your set financial targets. Without a personal monthly budget template, becoming financially free will just be wishful thinking which would yield no results.

• It prepares you for uncertainties

Life is full of uncertainties. Tragedy and accidents strike at a time we least expect. Worse still, is when you have not saved enough to cushion you during those trying times. With a personal budget template in Google sheets, you are assured of having enough money on hand for, at least, emergencies. This may not only save you some stress but may save you or your loved one’s life.

• It enables you to keep track of your money

Have you ever been in a situation where you asked yourself where all your money went after it got finished? This normally happens when don’t keep track of your expenses. Our personal monthly budget template in Excel is designed to help you easily keep track of where your money goes and what it does. It also helps you calculate the income needed based on the following budgeted expenses, including groceries, transportation, utilities, health care and so on.You may find you need a side hustle to meet your financial goals. It has pie charts for both income and expenditure, helping you to identify how much you earn and which sector takes the most of your income. This way you can even curb some unnecessary expenses and save more money or divert it to more useful ventures.

FEATURES OF OUR PERSONAL BUDGET TEMPLATE

Our personal monthly budget template can be used in both Google Sheets and Excel. As mentioned earlier it has two pie charts; cumulative income and cumulative expenses. These pie charts break up all your sources of income and expenses into sectors and tell you which sector consumes most of your income. Then there is the bar chart which gives you an overview of your monthly income and expenditure helping you to keep an eye on your finances. You can also use this to calculate the income needed based on the following budgeted expenses, including groceries, transportation, utilities, health care and so on. Having a personal monthly budget template is the right step to achieving financial freedom.

If you want to achieve the financial freedom that you seek, we invite you to try out our personal monthly budget template today.