Personal Monthly Budget Template

A personal monthly budget template is a tool that helps individuals in managing their finances by tracking their income and expenses on a monthly basis. It helps people in achieving their financial goals each month by observing their expenses and savings. This template provides a pre-designed model for adding information and following the course to get a customized copy of their monthly finances.

On an individual level, the source of income is fixed due to their occupation or profession. They might work extra hours to collect more money but their expenses depend on their responsibilities and lifestyle. Heavy expenses may put a strain on individuals to borrow more money and it starts a never-ending cycle of borrowing and lending money.


Major expenses that an individual has to meet each month are given below,

  • Rent/mortgage: living alone or renting has its perk because it consumes a big chunk of income as soon as it comes into your hand. It is not easy to get a suitable place because the rent is too high.
  • Groceries: cooking is better because it allows you to save money. Groceries include all household items i.e. fruits, vegetables, shampoo, lentils, soaps, toiletries, and beverages. It also includes matches, vegetable oil, condiments, etc.
  • Car payment: if you own or rent a car, car loans can be too much to pay each month. These rents are heavy and can strain individuals.
  • Entertainment: all the expenses required for going out with friends, movies, road trips, and vacations are included in the category of entertainment. It can be minimized during difficult months to save more money.
  • Medical: medical emergencies cost a lot of money therefore, people wish they stay healthy and out of hospitals.
  • Dining out: dining out can be expensive if it is done regularly. Dining out every other day can consume all your income and leave you with zero savings. It is better to arrange meals at home.
  • Beauty products: every individual requires a list of beauty products each month which may include makeup, skincare essentials, high-end beard, face oils, etc.


A budget template is a fork of a spreadsheet that can either be in hard copy or soft copy. Soft copies can be altered in an electronic device i.e. computer or mobile.

These templates are pre-designed and can be easily downloaded from the website. These have proved to be of utter significance because of many reasons. A personal monthly budget template can be devised in the following manner,

  • Income: track all sources of income and calculate the total amount that you earn every month. Try to search for ways to earn passive income as well.
  • Expenses: list down all the fixed and variable expenses of the month that should be catered. Fixed expenses include car payments, mortgages, and other loans and investments whereas variable expenses include groceries, entertainment, dining out, medical, etc.
  • Savings: make sure to save a little amount at the end of each month so that it can be used on rainy days.
Personal Monthly Budget Template