Is this budget template really free?

Yes. The layout below is free to copy into any spreadsheet. You can also track the same thing automatically with a free Cash Flow Tracker account.

What columns should a monthly budget template have?

At minimum: item, day it occurs, budget amount, actual amount, and variance. Add a running balance column so you can see your balance after each line, not just the monthly total.

Can I use this template if I'm paid mid-month?

Yes. Start the template on your pay date instead of the 1st, so income and the bills it covers stay in the same period.

Free Monthly Budget Template

A simple monthly budget template built around budget vs actual — with a running balance so you can see where you stand after every line, not just at month-end. Copy the layout below into any spreadsheet, or skip the manual upkeep entirely.

The template layout

A budget template only needs five columns to be genuinely useful. Here it is, filled in with a sample month so you can see how it flows:

Day	Item	Budget	Actual	Balance
Opening balance
1	Starting balance	—	1,200	1,200
Income
1	Salary	3,200	3,200	4,400
15	Side income	300	260	4,660
Expenses
2	Rent	1,150	1,150	3,510
3	Insurance	95	95	3,415
5	Subscriptions	45	52	3,363
—	Groceries	450	486	2,877
—	Transport	180	171	2,706
—	Everything else	400	395	2,311
Net (income − expenses)		+1,180	+1,111	2,311

What each column does

Day — when the item occurs, so you can sort by timing and spot cash crunches before they happen. Leave it blank for spread-out costs like groceries.
Item — the income source or expense, grouped under Income and Expenses.
Budget — your plan for the month, set before it starts.
Actual — what really happened, filled in as you go.
Balance — a running total: previous balance + income − expense for each row.

How to use it in a spreadsheet

Recreate the five columns and the Income / Expenses sections above.
Enter your opening balance on the first row.
For the running balance, add this row's income and subtract this row's expense from the row above (e.g. =E2 + C3 − D3).
Add a variance column if you like: =Actual − Budget.
Start the template on your pay date, not the 1st, if you're paid mid-month.

Or skip the spreadsheet entirely

Cash Flow Tracker is this template, automated: add line items, set budget vs actual, and the running balance and variance are calculated for you — for any pay cycle, free.

Use the free tracker

Frequently asked questions

Why include a running balance instead of just a total?

A monthly total can look healthy while you still go negative mid-month. The running balance shows the lowest point you'll hit, so you can reorder or delay a payment before it bounces.

Spreadsheet or app — which is better?

A spreadsheet is fine to start and totally free. The app wins once the manual formulas, day-sorting, and copying last month's plan into this month start eating your time.