How to Do Monthly Financial Budget Planning With Excel

by Diane Dilov-Schultheis ; Updated July 27, 2017
Track and budget your money using Microsoft Excel.

Financial budget planners track your personal or business income and expenses on a monthly basis. When it's vital for you to know where your money is going. creating a monthly budget plan is one of the best ways to get a complete picture of your finances. Using Microsoft Excel, an electronic spreadsheet program, you can create monthly budget planners quickly and easily.

Step 1

Collect your personal or business financial records. Separate your incomes and expenses.

Step 2

Open Microsoft Excel. Click “File” or the “Office Button” icon, depending on the particular version of Excel installed. Select “New.”

Step 3

Select “Budgets” from the list of templates. Select either “Business Budgets” or “Home Budgets” to see available templates in that category.

Step 4

Scroll through the budget templates until you find the best one that suits your needs. A larger view appears on the right side when you select the templates. Click “Open” or “Download.”

Step 5

Click on “File” or the “Office Button” icon, depending on the particular version of Excel installed. Select “Save” to keep a copy of the template that you can use again next month.

Step 6

Use your financial records to fill in the monthly details needed on the budget planner for both incomes and expenses.

Step 7

Place your mouse over the cell that you need to use and then click it. If the cell has a number in it already, highlight it and type in your information.

Step 8

Use the “Tab” key to continue filling in the information, or select the new cells with your mouse. Disregard any areas not needed. The amounts in other cells change as you add information to the various budget planner sections because formulas are built into the template.

Step 9

Use the “Undo” feature to make corrections. Complete all areas needed. View the results to understand your monthly finances and notice any areas that need adjustments. Decide what changes are required for next month’s budget.

Step 10

Click “File” or the “Office Button” icon, depending on the particular version of Excel installed. Select “Save As” to keep a copy for your records. Give the file a different name than the original, or it will replace the template.

Tips

  • Narrow your template search first using the self-explanatory names, check out each template available in that type and then choose among these templates.

    Available business budget templates include expense, event, marketing, business trip, training, website, startup, media advertising along with basic and various operating expense budgets for specific industries, such as manufacturing and service. Many of the budget templates are available in more than one type.

    Home budget templates include a variety of personal, family, wedding, lawn and garden, bi-weekly, bi-monthly, annual, college, retirement, holiday, group trip and home remodel designs.

    Use the “Search Microsoft Office Online” feature or go online to the website to see a larger variety of budget templates.

    Increase your income or reduce your expenses if your monthly total is negative. Make plans for an added expense, such as a vacation or a big purchase, if your monthly income totals are greater than your expenses. Otherwise, create a savings or emergency fund.

    Use the “Help” feature included in Excel for any additional information.

About the Author

Diane Dilov-Schultheis has been writing professionally since 2000. She is a food and travel writer who also specializes in gaming, satellites, RV repair, gardening, finances and electronics. She is a member of the Society of Professional Journalists and has been published online at the Travel Channel and Intel.

Photo Credits

  • Creatas/Creatas/Getty Images