One-Stop Solution to Learn Everything About Excel Budget Template

Excel Budget Template is a smart solution to plan out your monthly, quarterly, or annual budget that could include everything you ever needed. It could be your monthly expenses against income, or savings, etc.

What Is Excel Budget Template?

In general, the Microsoft excel budget template is an excel sheet devised with simple mathematical and aggregation formulas that store data related to daily, weekly, monthly, quarterly, and annual budgets.

These budgets can either be personal or professional expenses-related data using which one estimates savings or revenues, respectively. To understand it better, you will devise an excel quarterly budget template in the next section.

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Excel Budget Template for a Quarterly Budget 

Let us assume that your monthly income is one lakh rupees, and you are completely unaware of your expenses and savings. You try to keep track of everything by noting it down on your dairies and note apps. Yet you miss out on noting a few of the expenses, or you find a lack of data organization. End of the day, everything gets so complicated that you end up being tangled with miscalculations.

So, this being the problem statement, devise a solution to it using Excel.

Start MS Excel and get started with a normal black worksheet.

The next step is to include the expense details of the current quarter that include January, February, and March.

Your data table includes all the details like:


  • Date of Purchase
  • Month
  • Year
  • Item Category
  • Item
  • Description of item
  • Payment Method
  • Income of the month
  • Amount debited
  • Running Balance

Once the columns are ready, fill in the data about all the expenses and modes of payment except for the running balance.

The quarterly data looks like shown below.


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The next step is to select the table and convert the data into pure table format since excel stores all the data in the form of a database by default.

You can do that by selecting the data and pressing the shortcut “CTRL + T” or “Command + T”. Do not forget to check in the box that says “My table has headers”


Now, fill in the income details and calculate the running balance. Go ahead and fill the first cell of running balance with a value equivalent to the income as default.

In the next cell, write the following formula to calculate the running balance.

=SUM( Running Balance + [Income - Expense] ).

In this case, the formula looks as follows.



Now, you can copy the formula to all the cells to calculate the running balance throughout the first quarter. 

The formula will automatically calculate the running balance after the addition of income in the next month.

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You can also include a separate row for calculating the monthly income, debt, and monthly balance.

The final table would look like the image below.


Now, with that, you have come to an end of the excel budget template tutorial.

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Wrapping Up

DAX in Excel can be your next step in learning data analytics. DAX in Excel could be helpful in learning the DATE-related functions offered by Excel and how to implement them in real-time in collaboration with budget plans and much more.

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Have any questions for us on this tutorial on "Excel Budget Template"? If you do, or maybe you have doubts about our certification course, feel free to reach out to us. Our team of experts will be happy to assist you.

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