Family Budget Template

Tracking your monthly budget can get complicated when you have a family. As your household grows, so do your expenses and income. The Family Budget Template is an Excel guide to track your income, expenses, and more by the month and year.

How to use the Family Budget Template

The Excel sheet will download to your computer through the link below. Once you have it opened, most of the template is filled out to help guide you through it. Anything that does not apply to you can be deleted or changed.

Enter the year into the top left corner and then skip the line graph and the “Summary” column. The “Income Type” is where you actually begin. The three spaces provided cover two incomes and another income source. The template has Jan-Aug filled in, so delete the entries before putting your own in.

The “Expenses” column below is where you list every monthly cost your family has. The categories are already provided. As you enter your expenses and income numbers, the far right columns will change to automatically calculate your Year-To-Date total and the monthly average amount you spend.

Once you have finished this, scroll back to the top. The “Summary” column now shows you the totals for all your expenses and income. It also has calculated how much money you have left over each month. The line graph above reflects the leftover amounts so you can see the trend.

Tips on using the Family Budget Template

• Keep the amounts you enter as accurate as possible. Since everything is calculated down to the cent, don’t average it out or round your numbers up.
• Print or email the template with your entries to other household members who contribute income. They can then see how everything is spent.
• When your bank statement arrives, compare it with your own tracking to help uncover fraud, wrong charges, and missed entries.
• The line graph will show you how your budget worked through the last year once you finish. Using this, you can adjust your budget as the year ends.

Download the Family Budget Template

Template courtesy of Microsoft