A couple budget worksheet is designed to help couples manage their finances jointly. It typically includes sections for tracking income, expenses, and savings for each partner, as well as shared expenses and savings.
This free couple budget template leverages Excel’s functions to automate and integrate financial data, providing a transparent and collaborative budgeting solution. It is designed to make joint financial planning easier for you by providing an organized way to track income, expenses, and savings of both partners.
The template is divided into several sections, each tailored to capture specific financial details for both spouses, referred to as Spouse A and Spouse B. It efficiently integrates automated calculations and visual insights to simplify financial planning and monitoring.
Previous Savings
In this section, you can input the amount saved from previous periods to establish a foundational context for your current budget. This initial figure automatically carries forward to influence current savings calculations.
Income
Monthly Income for Spouses A & B: You can enter here diverse income sources such as salary, wages, freelance earnings, rental income, and others for both of you. Excel automatically calculates the net income after taxes, providing a clear, real-time view of your total earnings.
Expenses
Monthly Expenses for Spouse A & B: Here, you can list individual expenses such as accommodation, utilities, transportation, debt payments, and more. Additionally, you can note your contributions to shared expenses, personal savings, and shared savings. Excel’s auto-calculation feature immediately updates your net expenses and disposable income, reflecting the sum total in real time for an accurate financial assessment.
Shared Expenses
Monthly Shared Expenses: This part allows you to aggregate expenses that are shared between you and your spouse, including mortgage or rent, internet, electricity, gas, Netflix subscriptions, and other recurring payments. Excel dynamically adjusts the contributions by each spouse according to predefined ratios, updating the overall expense distribution instantly.
Savings Contribution
Monthly Savings: In this section, you can list the contributions of both of you to shared savings, with the total shared savings displayed at the bottom. This helps you track your progress towards your savings goals.
Budget Summary
This section of the template serves as a crucial component that consolidates and displays the overall financial status of the couple based on the detailed entries made across different categories within the template. This field in this template is designed to automatically update as changes are made in other parts of the spreadsheet.
- Total Income: This field aggregates the total monthly income from both spouses. It includes all sources of income such as salaries, wages, freelance projects, rental income, and other miscellaneous sources. The sum displayed in “Total Income” is a direct reflection of the combined financial input of both of you for the month.
- Total Shared Expenses: This part of the summary accounts for all the expenses that are shared between the spouses. It includes regular household expenses and any other agreed-upon shared costs.
- Disposable Income: Disposable income is calculated by subtracting the total shared expenses from the total income. This value indicates the amount of money left available after all common expenses have been covered, which can be directed towards savings, investments, or discretionary spending.
Visual Representation
This spreadsheet includes pie charts that automatically update to reflect the proportion of income allocated to expenses, personal savings, and shared savings. These charts provide you with visual feedback and help you see at a glance how your money is being allocated, aiding in better financial decision-making. It also serves as a useful budget health indicator, and the visual breakdown makes it easy to spot areas where you could cut costs or overspend.
This template is a valuable resource for couples looking to manage their finances collaboratively. Its availability in various formats, such as ODS, XLSX, Excel, XLTX, and Google Sheets, makes it accessible and easy to use for all users. This template makes financial planning easier, encourages transparency, and assists couples in working toward their shared financial objectives by providing automated calculations and visual representations. Whether you’re saving for a vacation, a new home, or retirement, this worksheet can be a useful resource to help you achieve financial stability and peace of mind.
