Everyone has his or her own needs. To avoid overspending money, we need to plan our budget. In this case, you need to make a personal budget template. You can actually find free personal budget easily on internet. However, we will still guide you to make a personal budget by your own.

Bi Weekly Personal Budget Template 1


How to Write a Personal Budget

There are some items of information you need to include in this budget sample. The first is income. You have to present all sources of income. For example, it includes monthly salary, incentives, bonuses, etc. If your spouse also works, you should also include her income.

Excel Personal Budget Template

The next is emergency fund. It is what you will need for a catastrophic event. For example is if you lose job, suffer a certain event, become incapacitated, etc. You must have emergency fund that can cover expenses for at least 8 months.

Housing should also be included. It may relate to how much you pay for your mortgage. In relation to household budget items, it includes maintenance & repairs of household, property taxes, homeowner’s insurance, and there are still many others.

You also need to include savings in your personal budget. Saving is very important for your present & future needs. The amount of saving depends on your desire. However, mostly people like to save money about 10% from their earnings.

Utilities also belong to items included in the personal budget. The examples are such as heating & cooling, electricity, and water. Considering the importance, utilities belong to the priority. You can allocate up to 10% of your income for utilities.

This budget template must also include the budget for health care. It depends on your health conditions. You may need to allocate your money for dental, vision, disability, and health insurance. So, you yourself who know well about your needs for health care.

Consumer debt should also be presented. It includes car payment, installment agreement, student loans, & credit card bills. Some people does not pay much for this need but some other really spend much money for this even up to 5 or 10% of income.

Do not forget to include budget for foods & groceries. It does not only relate to your daily meals but also dinner with friends, night extra dishes, stocking up on grocery, etc. It depends on your eating habits, family size and also your ability to make a wise life pattern.

The next budget to be allocated is for personal care. It can be expensive enough especially if you have a family member to support. For example, you need to allocate your money for dry cleaning, clothing, shoe repair, laundry supplies, personal hygiene, hair care products, salons, and other needs.

One more, you cannot miss including budget for entertainment. We all know that everyone needs entertainment. That is why you always find entertainment budget on free personal budget. It can be used for hangout, watching movies, vacation, massage, dating, and there are still many others.


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