Personal Monthly Budget Sheet

We all are aware of the benefits of creating a budget. A personal budget is a list of all the expenses in accordance with the income that helps to make a plan that how and where the money will be spent and saved. A budget is an essential tool which helps us to keep a balance between our income and expenses.

The personal monthly budget sheet varies from an individual to individual, as the financial situation of people is different. The budget sheet also depends on the spending habits of a person. Not every category is applicable to income or spending of one person, plus you may also find that some months are different than others, if we talk about spending or expenses.


Making a monthly budget sheet is a common challenge. A typical structure of a personal monthly budget sheet consists of:

  • Actual income earned includes salary, wages, and bonuses.
  • List of each expense along with costs. Expenses might include bills, investment expenses, income taxes, other personal expenses.
  • Total costs of expenses.
  • Savings if any.

Personal monthly budget sheet acts like a financial map that helps in achievements. To attain future needs and overcome financial hardships, it is important to know how to make a good budget for the whole month, which is not that difficult. There are many different ways one can make a personal budget sheet depending on his income, family size and his expenses.

How to make a budget?

You can make a personal budget in the following two ways:

  1. Book or pen (handwritten)
  2. Computerized personal budget templates.

In today’s era, when money is considered as the most important factor of life budgeting helps us in taking control over our expenses and gives us financial security. Following a proper budget teaches the worth of money to the family members. The personal budget gives a sense of responsibility and accountability.

The benefits of managing a personal monthly budget sheet are the following:

  • The budget sheets help in tracking down all the costs associated with each personal expense for a whole month.
  • It tracks down when and where to use money and what expenses shall be cut off.
  • The tool helps in saving money each month for savings to be used for future expenditures.
  • Managing a personal monthly budget sheet saves time.

Personal budgets

In order to allocate the budget for the month to various kinds of expenses at the start of the month and keeping the check on the difference against the actual expense at the end of the month, you are required to use the personal monthly budget. With the help of this template, you can easily allocate the budget to the monthly expenses. It can also be very helpful in estimating the actual cost that a category has faced in the whole month.

All kind of income detail such as wages, interests, saving, and refunds can be stored in this template. It has the capability to hold the record of several categories and also the heads of the expense to cover all the expenses which a business can bear in the whole month.

Monthly budget templates

Using this template is a very easy task. You are just required to fill in the number and the calculations will be done very quickly. You can record your desired budget in the budget column. This column represents your goal. You can know how much you should spend each month. This budget column is prepared at the start of the month. Another column is for an actual budget. Here you can put the amount which you have spent the whole month.

Another column is the difference column which stores the values of the difference between the desired budget and actual budget. If you get the negative number, it shows that you have consumed more than the desired. You should be very careful in adding and removing the data as it can mess up the formula.

Personal monthly budget sheet

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