You do not need a clever app to budget. You need one page that shows what comes in, what goes out, and whether the two match. Here is a free monthly budget template you can paste into Excel, Google Sheets, a notes app, or copy onto paper.
If you are new to budgeting, read how to budget for beginners first, then come back and fill this in.
Direct answer: what a monthly budget template needs
A good template has take-home income at the top, then fixed costs, everyday spending, savings, fun money and a buffer. Each row has a Planned and an Actual column and a Difference, and the Planned total equals your income so every dollar has a job.
The template (copy this)
| Category | Planned | Actual | Difference |
|---|---|---|---|
| INCOME (take-home) | |||
| Pay | |||
| Other income | |||
| FIXED COSTS | |||
| Rent or housing | |||
| Utilities | |||
| Phone and internet | |||
| Insurance | |||
| Minimum debt payments | |||
| EVERYDAY | |||
| Groceries | |||
| Transport | |||
| Personal and household | |||
| FOR FUN | |||
| Eating out | |||
| Subscriptions | |||
| Hobbies and treats | |||
| SAVINGS | |||
| Emergency buffer | |||
| Goals (trip, course, gadget) | |||
| Total spending | |||
| Income minus spending |
A filled-in example
Take-home income of $2,000:
| Category | Planned |
|---|---|
| Rent | $700 |
| Utilities | $120 |
| Phone and internet | $40 |
| Insurance | $80 |
| Groceries | $300 |
| Transport | $150 |
| Eating out | $100 |
| Subscriptions | $30 |
| Hobbies and treats | $120 |
| Emergency buffer | $200 |
| Goals | $100 |
| Spare (unplanned) | $60 |
| Total | $2,000 |
The rows add up to $2,000: housing and bills $940, everyday $450, fun $250, savings $300, spare $60. Aim for Income minus Spending to be zero, so nothing is left without a job.
How to set it up in Excel or Google Sheets
- Paste the table into a new sheet, with Category in column A, Planned in B, Actual in C and Difference in D.
- In Difference (D), type
=B2-C2and drag it down. A negative number means you overspent that row. - For each group, total the rows with
=SUM(B3:B6)(change the range to match your rows). - In the last row, subtract your total spending cell from your income cell (for example
=B3-B25). Aim for zero. - Freeze the top row (View, then Freeze) so headings stay visible.
Google Sheets also lets you share the file with a partner, which helps if you budget together (see how to budget as a couple or family).
How to use budget vs actual
Fill in Planned at the start of the month and Actual as you spend, or at the end of each week. The Difference column tells you two things:
- Over in one row, under in another: move money between rows. The plan is flexible.
- Over in the same row three months running: your plan is unrealistic. Change the number instead of blaming yourself.
Paper version
Prefer pen? Copy the same rows into a notebook, and write the actual amount next to each every Sunday. A paper budget you actually use beats a spreadsheet you never open.
Tips for filling it in
- Start from your bank or mobile money history, not memory.
- Use take-home pay, not your salary on paper.
- Include irregular costs by dividing a yearly amount by twelve (this is a sinking fund).
- Keep a small "spare" row. Real months never match the plan exactly.
- Review it weekly for ten minutes.
The bottom line
A template is only a container. The value is in the weekly habit of comparing plan with reality. Fill in the table above, check it every week, and adjust. To learn what to put in each row and how to keep it going, take the Budgeting for Beginners course, free to start. On a small income? Read how to budget on a low income.
