Let us discuss the contents of the Personal Budget Template in detail. This template is useful to everyone but especially for working individuals and students. Note: To edit and customize the Google Sheet, save the file on your Google Drive by using the “Make a Copy” option from the File menu. You can also download personal finance templates like Debt Reduction Calculator, Monthly Household Budget, and Loan Amortization Template from our website. We have created a Personal Budget Template with predefined formulas and a graphical overview of the financials.Ĭlick here to Download All Personal Finance Excel Templates for ₹299. Personal Budget Template (Excel, Google Sheet, OpenOffice) For example, retirement plans, saving for emergencies, investment, or education. The saving part includes money allocation for our financial goals. For example, groceries, fuel, transportation, entertainment, gifts, shopping, etc. Whereas variable expenses are of the different amounts each month. For example, loan EMIs, mortgage payments, 401K payments, insurance payments, etc. Fixed expenses are of the same amount and recurring in nature. The expenditure part includes both fixed and variable expenses. The income part includes income from every source like salary, pension, reimbursements, dividends from invest meant in the stock market, income from rental property, etc. Components of a Personal BudgetĪ personal budget consists of 3 main components: Income, Expenditure, and Savings. Thus, budgeting is very helpful and should be an important part of our financial management. You can manage your money and make early repayments of your loans and save on interests.Ī personal Budget is nothing but efficient management of your money in such a way that you have enough savings and less or no debts.You start thorough planning, management, and investing money from your savings you can plan your retirement. It provides you with financial freedom.Creating a budget will decrease your stress levels because you will be ready for your upcoming expenses in advance.Planning and monitoring your budget helps you identify the wasteful expenditures.With personal budgeting, you can have money for such unexpected emergencies. In case you don’t have proper money planning you will have to suffer or else increase debt.
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