Let’s be real — the word “budget” doesn’t always spark joy. But what if setting one up in Excel felt less like a chore and more like building a roadmap to financial freedom?
You don’t need to be a spreadsheet wizard. You just need a clear plan, a few simple formulas, and maybe a nice cup of coffee while you set it all up. ☕
In this guide, I’ll walk you through how to set up a beautiful, functional monthly budget in Excel — plus a free template so you can start instantly.
🛠 Step 1: List Your Budget Categories
Think about where your money goes each month. Common categories might include:
- Housing
- Utilities
- Groceries
- Transportation
- Dining Out
- Entertainment
- Savings
- Debt Payments
- Miscellaneous
💸 Step 2: Create Your Table
In Excel, create a simple table with these columns:
| Category | Budgeted Amount | Actual Amount | Difference |
|---|
Your rows will be each spending category you listed. Under “Budgeted Amount,” enter how much you want to spend. Then, as the month goes on, fill in the “Actual Amount.”
📐 Step 3: Add Formulas
In the “Difference” column, subtract the actual from the budgeted amount. Here’s what it looks like for row 2:
=B2-C2
Then copy the formula down the column to calculate the difference for each category.
🧮 Step 4: Add a Totals Row
At the bottom of your table, add a “Total” row to sum everything up:
- Total Budgeted:
=SUM(B2:B10) - Total Actual:
=SUM(C2:C10) - Total Difference:
=B11-C11
This gives you a high-level view of how well you’re sticking to your budget.
🎁 Bonus: Download Your Free Budget Template
Not into building it from scratch? No problem. Download our clean, pre-made Excel budget template with formulas already built in.
What you’ll get:
- Monthly budget layout
- Auto-calculated differences
- Editable categories
- Room to personalize
📥 Download the Excel Budget Template here
🚀 Final Thoughts
Setting up a budget on Excel isn’t just about numbers — it’s about gaining control and confidence in your money. The first time you track your full month? You’ll feel like a financial rockstar. 🤘
Use the template, tweak it to fit your lifestyle, and most importantly — be kind to yourself as you learn. Budgeting is progress, not perfection.
Let me know how the template works for you, or if you'd like a Google Sheets version too!