Free Budget Template (Complete with Definition and Downloadable Sample)

October 18, 2022

Free Budget Template (Complete with Definition and Downloadable Sample)

Let's face it, keeping track of your finances is not the most exciting thing in the world.

To make things slightly less painful, there are various budgeting tools available online that you can use to streamline the process and make things much easier for yourself from here on out.

A free budget template is one such resource, and in this blog post, we'll take a look at exactly what it is and how you can use one to manage your personal finances more effectively.

What is a Free Budget Template?

A free budget template is essentially a spreadsheet that you can use to keep track of various spending categories (as well as forecast future cash flow) so that you can keep on top of your finances on a regular basis. There are a number of free budget planner templates available online that you can use, covering a variety of different topics and different types of users.

When it comes to choosing the right one for you, it’s a good idea to go with one that is visually appealing and easy to understand. Many budgeting templates are designed with beginners in mind, and so they feature a simple layout that doesn’t require much if any knowledge of Excel or other spreadsheet software.

Is There a Budget Template in Google Docs?

If you’re more comfortable using Google Sheets, or if you want to share your budget with a partner or other users, you can use a budget template that is designed for Google Docs. You can find several different budget templates that are free to use online.

These templates typically feature a simple layout and limited functionality, making them perfect for beginners and those who are new to budgeting. These types of templates are also simple to use and are designed to help you get up and running with budgeting as quickly and easily as possible.

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Is There a Budget Template in Excel?

Yes. In fact, there are quite a few different budget templates available online that you can download for free and use in Excel. These types of templates are best suited to experienced budgeters who are comfortable with the Excel UI, and who are looking for extra functionality above and beyond the more basic budget templates that are also available online.

Most Excel budget templates are designed for those who want to keep a close eye on their finances, as well as be able to quickly see what adjustments need to be made to their budget if something unexpected comes up. Fortunately, you can download many of these budgets templates free.

How do I create a Free Budget Template in Excel?

If you’re using Excel as your budget template, you’ll first need to decide which category your budget falls into. There are many different types of budget templates in Excel and other spreadsheet programs, depending on your needs.

Once you’ve decided which template you want to use, you’ll then need to fill out all the different areas of the spreadsheet. Depending on the type of budget you’re using, the areas you need to fill in will vary.

You can create a free budget template in Excel by following these simple steps:

1. Click the “New” button

2. Select either “Blank” or “Excel Spreadsheet.”

3. Click “OK” to generate the template.

4. Enter the necessary information into each cell.

5. Save your file and refer to it each month.

The benefit of making your own budget template is that you can create this sort of budgeting planner free of cost, and it’s very easy to do. Even people who are new to Excel can create a free budget template quickly and easily.

What is the 50 20 30 Budget Rule?

Many different budget templates use a budget rule of some kind, and the 50-20-30 Budget Rule is one such example. We’ve all heard how important it is to keep track of your spending, and this rule is designed to help you do just that.

This budget rule suggests that you should spend 50% of your income on essential items such as rent and bills, 20% on savings, and 30% on discretionary items such as groceries and entertainment. This is a very general rule, but you need to keep in mind that what works for one person may not work for another.

Finding a budget template or rule that works for you is key, but you should never feel too restricted by a budget template or rule. Your budget should be a living, breathing thing that you can adjust as necessary.


LiveFlow is one of the best financial accounting tools on the market in 2022. It features numerous helpful templates, including some great budget templates. LiveFlow also has various tools that can help you automate the most complicated accounting processes, such as the new Live Budget vs Actuals tool.

Best of all, you can explore LiveFlow for free with a 30-minute demo. So, if you want to take the stress out of budgeting and accounting, then be sure to check out LiveFlow today.

Check out LiveFlow's free budget template below:

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