7 (completely) Free Budget Spreadsheet Templates

By May 6, 2016Budgeting

Setting a budget is absolutely essential to reaching your financial goals.

In fact, in my opinion it is the FOUNDATION.

I look at a budget like I look at a road map. If you’re planning a trip, you need to know where you are going.

The same can be said with your financial life. If you want to achieve the goals and objectives you have for your life and your family, you need a plan, and the start of that plan is a budget.

The nice thing, is in reality it’s never been easier or cheaper to create a detailed budget.

Today, I have 7 FREE Budget Templates that if utilized can dramatically change your financial life.

But first, I want to discuss why you should have a budget.

7 (completely Free Budget Spreadsheets Pinterest

Why You NEED a Budget

As previously said, you can’t reach your goals without having a plan to get there.

There’s many reasons for a budget, but in my opinion there are five main reasons you need a budget.

1. To Create and Reach Your Financial Goals

Once you understand your goals, then you can start tackling them.

The Bible speaks heavily on setting goals because without them, you’re going to be spinning your wheels.

“The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.” – Proverbs 21:5

“Prepare your work outside; get everything ready for yourself in the field, and after that build your house.” – Proverbs 24:27

2. To Build Wealth

Having a clear view on your financial picture and where your money is going will allow you to focus on the future.

Building wealth should only come AFTER you’ve begun paying down debt and lowering your expenses. If you’re paying more interest on your credit card debt than you’re making on your investments than you’re in trouble.

Your investments and savings will allow you to begin building wealth and generate passive income.

3. For Clarity

When you know that the money you’re making is being put to good use, it will be as if a monkey was lifted off your back.

No joke, having peace regarding your finances is absolutely critical to achieving your version of financial success. Unfortunately, too many people go through life never having achieved peace over their finances because in large part, they never created a budget.

Clarity is key!

4. To Plan for a Future Retirement

I say this nearly every post, but if you don’t have a plan, then you are planning to fail.

A budget will allow you to begin planning for your retirement and that is absolutely essential to achieving retirement. You must plan for something, to achieve it and that is surely true in regards to retiring.

In a 2015 Retirement Confidence Survey, 57% of workers surveyed had less than $25,000 saved for retirement.

How do you possibly expect to retire with $25,000 saved?

“The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty” – Proverbs 21:5

5. To Spend the Money on the Things Important to YOU

Many Americans are in debt.

In fact, so many Americans are in debt, 8 in 10 people you run into on the street are leveraged.

This is a massive problem and one of the reasons so many are in debt is because they have no plan for their money. They have no idea what’s happening with it. They’re lost.

A budget will afford you the opportunity to know where your money is being spent and decide whether you want it to continue being spent in that manner or make a change.

Don’t work for your money, make your money work for you.

 7 Free Budget Spreadsheet Templates

1. Super Starter Budgeting Spreadsheet Template

The Super Starter Budgeting Template is a great way to begin budgeting. It’s certainly not the end all be all for budgeting, but if you want to start, this is a great way to do it at a great cost, NOTHING!

Often times with budgeting, people start off with a vengeance but then realize it can be hard and complex. Not so with this template. It’s ultra simple, contains no frills, and is all excel based.

Simply enter up to 10 categories and track your spending for the month. The Super Starter Budget will show you where you’re spending the most.

DOWNLOAD: Excel File (.xls)

2. Personal Budgeting Spreadsheet Template

This is a nice, somewhat detailed budgeting spreadsheet template.

Although it does have more detail than some, it’s still not overwhelming and in reality offers great basic features.

A few things to be aware of are that you HAVE to enter each purchase and details in order to make sure it’s complete and accurate. So, take your time and go in order and you’ll be able to see a good idea of what your daily expenses are.

DOWNLOAD: Excel File (.xls)

3. Debt Reduction Spreadsheet Template

Nearly everyone reading this has some sort of debt.

In my opinion too many of you have debt, and should take steps to change that.

This spreadsheet is DESIGNED to help you reduce your debt and start spending YOUR money the way YOU want to.

Utilizing both the debt snowball and debt avalanche methods, this calculator will help you to start marking off debt, one loan at a time.

“The rich rule over the poor, and the borrower is the slave of the lender.” – Proverbs 22:7

Don’t be a slave to the lender.

Start today, and utilize this spreadsheet to help you accomplish your goals.

DOWNLOAD: Excel File (.xls)

4. Financial Snapshot and Budget Spreadsheet Template

The Financial Snapshot and Budget Template is a colorful and detailed way to have a great idea of where you are at and where you want to go.

This template includes a net worth estimation, housing and general budgets, as well as places for expenses.

DOWNLOAD: Excel File (.xls)

5. End of Debt Deluxe Budget 2.0 Spreadsheet Template

The End of Debt Deluxe Budget 2.0 Spreadsheet Template allows you to add up both of your income and expenses and find the difference between the two.

It’s a rather simple budget tool, but is easy to follow and has good color identification to help separate the various columns.

DOWNLOAD: Excel File (.xls)

6. Monthly Budget Spreadsheet Template

The Monthly Budget Spreadsheet Template provides a monthly snapshot of your wealth.

One of the best features of this spreadsheet is that it allows for categories for each item you purchase. It will add these up and then compare the total amount spent based on the amount budgeted.

DOWNLOAD: Excel File (.xls)

7. GLBL Spreadsheet Template

The GLBL Household Budget Spreadsheet is very similar to other spreadsheets shown except for one caveat.

It tracks by pay-period rather than monthly.

This is especially great for those paid bi-weekly such as many federal employees.

DOWNLOAD: Excel File (.xls)

Final Thoughts

Creating a budget is important, but even more important is actually sticking to the budget.

These spreadsheets can help you in the creation, but YOU have to decide whether you’re going to go through with it or not.

Take the time, and make the change.

Yours in Ambition,

Cooper Mitchell

Author Cooper Mitchell

Hello, I'm Cooper. I am the President of Dane Financial, LLC. I specialize in helping Christians who have ambition prepare for life through Comprehensive Financial Planning and Investment Management. When I'm not doing financial planning, you can find me focusing on other entrepreneurial pursuits, spending time with my beautiful Wife, worshipping Christ, blogging, lifting (somewhat) heavy weights, and reading non-fiction.

More posts by Cooper Mitchell