Trending September 2023 # How To Create A Family Budget Planner In Excel? # Suggested October 2023 # Top 15 Popular |

Trending September 2023 # How To Create A Family Budget Planner In Excel? # Suggested October 2023 # Top 15 Popular

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Budget in Excel (Table of Contents)

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Introduction to Budget in Excel

Budget in Excel or budget planning helps you to keep your finances in check, i.e. spending and earnings. The budget planner is essential to track your monthly income and expenses. In addition, it will help you to spend the right expense items at the right ratios when you are in debt-ridden or financial difficulty.

A budget estimates revenue or income and expenditure or expense for a particular set of periods. The budget planner analyzes your spending habits. Many templates are available in Excel, but it is always better to make your own. Also, it is always better to document your expenses; they may be Fixed and Variable Expenses.

Fixed Expenses: Monthly Loan amounts (car, home, personal) & mortgage remains constant month after month, whereas,

Variable Expenses: Groceries, Home & utilities, personal, medical expenses & entertainment fluctuate month on month & variation will be based on your spending.

You can create various types of Budget templates based on the criteria; we can choose any of the below-mentioned budget templates that fit your needs.

Family & Household Expense Budget

Project Budget in the organization

Home Construction Budget when you are building a house of your own

Wedding Budget Planner

Academic Club Budget

College or School Student Budget

Retirement Budget

Holiday & Shopping Budget when you are on vacation leave

How to Create a Family Budget Planner in Excel?

Let’s check out some examples of how to create a family budget planner in Excel.

You can download this Budget Excel Template here – Budget Excel Template

Example of Family Budget Planner

Suppose I want to create a family budget planner. The following criteria are kept in mind while creating a budget; in the below-mentioned categories, I can add to create an Excel template of it.

You Should Know or Be Aware of Your Monthly Income or Earnings

Your monthly take-home pay (monthly)

Your partner’s or spouse’s take-home pay (monthly)

Bonuses/overtime worked & payout from the company (monthly)

Income from savings and investments made (monthly or annual)

Family benefit payments you have received prior (monthly or annual)

Interest Income


Gifts Received

Refunds/Reimbursements received

Child support received

You should know or be aware of your monthly expenses or spending, which are categorized into various sections.

Home & Utilities

Mortgage & rent

Furniture & appliances

House Renovations & maintenance

Cleaning Services






Home phone


Lawn/Garden maintenance

Insurance & Financial Section

Car insurance

Home Insurance

Personal & life insurance

Health insurance

Paying off debt if you have taken from someone


Investments & super contributions (Stock market or mutual funds)

Charity donations to save tax

Gifts are given on any wedding or other occasions


Car loan

Study Loan (Taken during graduation or postgraduation studies)

Credit Card bills payment

Alimony/Child Support

Federal Taxes

State/Local Taxes

Legal Fees



Fruit & veg market (Veg)

Butcher or Fish shop (Non-veg)

Bakery products

Pet food, in case you own a pet

Personal & Medical Expenses

Cosmetics & toiletries spending

Hair & beauty products

Medicines & Pharmacy

Glasses & eye care


Doctors & medical expense

Emergency (Any accidents you met with)

A health club (Annual or monthly memberships & spending)

Clothing & shoes

Jewelry & accessories

Computers & Gadgets

Sports & gym


Online or offline course fees

Pet care & veterinary expense

Entertainment & Dine Out

Coffee & tea


Takeaway & snacks


Drinks & Alcohol

Bars & clubs



Newspapers & magazines

Theater or Movies & Music




Outdoor Recreation

Celebrations & gifts

Club Memberships

Videos/DVDs taken on rent or purchased




Transportation Fares

Bus & train fare

Taxi fare



Road tolls & parking

Registration & license

Vehicle Repairs & maintenance

Fines Paid

Child Care

Baby products


Play home or babysitting fare


Sports & other activities

School tuition fees


School uniforms

Other school needs

Simultaneously add total income and expense in cells A2 & A3 and net income OR savings in column A4. Now, enter all the income & expense data in the respective cells.

Addition of Expenses by using the Sum Function

Press Enter so that it will result or gives you a total expense for that month.

Select cell B3 and enter “=E19” as a cell reference.

Press Enter, so the result will be as shown below.

Drag it across to cell M3. Excel copies the function and border to the other cells so that you can see all the month’s total expenses.

Press Enter, so the result will be as shown below.

Sometimes, if an expense is more than earnings or income, the negative value appears in the net income row; therefore, we should apply conditional formatting to appear green in color, and negative values cells appear in red.

I created two conditional formatting rules to highlight cells lower than 0 and greater than 0, i.e., a complete net income row.

So the result will be as shown below.

At last, you can calculate yearly income, expenses & total money saved in that year with the help of the SUM function.

Things to Remember about Budget in Excel

In any organization or company, you can create the below-mentioned type of budget planner based on different criteria, which will give a complete picture of its financial activity and health.

Operating Budget

Financial Budget

Cash Flow Budget

Static Budget

Recommended Articles

This is a guide to Budget in Excel. Here we discuss creating a Family Budget Planner in Excel, an example, and a downloadable Excel template. You may also look at the following articles to learn more –

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