This free couples’ budget template is a practical and efficient solution for couples aiming to manage their finances with precision.
This spreadsheet is designed to help you and your partner manage your finances seamlessly. It features sections for each spouse’s income with detailed spaces for sources like salaries and online projects to ensure a clear view of your total household income. Expenses are thoughtfully categorized into individual (groceries, entertainment, healthcare) and shared (mortgage/rent, internet, utilities) to help track spending and find savings opportunities.
You’ll also find a savings contributions section to monitor your progress towards goals like emergency funds and long-term savings. The budget summary provides a quick overview of your total income, expenses, and disposable income, which makes financial assessments easy.
Visually appealing pie charts that illustrate the distribution of each spouse’s income among various expenses give you an intuitive understanding of your financial balance. A comprehensive view of your financial journey is provided by additional fields that track progress made this year and previous savings.
Overall, the spreadsheet provides an organized, detailed, and dynamic method for effectively monitoring, planning, and achieving financial goals by leveraging Excel’s comprehensive features. Cell formulas are extensively used across the spreadsheet to compute financial figures dynamically, adjusting as new data is entered, which saves time and ensures the accuracy of data.
Header
The header section of the budget template includes fields for “Previous Savings,” showing the amount saved before the current month, and “Month and Year,” indicating the current month and year for which the budget is being prepared. Additionally, there is a “Savings” field, which projects the total savings expected by the end of the year.
Income
Details about you and your spouse can be entered in the income section, including sources such as salary, freelance projects, and rental income. Excel’s cell formulas are utilized to calculate the net income by deducting taxes and other deductions. The “Total Income” is then aggregated using SUM function to provide a combined income total from all sources.
Expenses
In the expenses section, expenses for each person are categorized, including accommodation, groceries, entertainment, etc. The total expenses for each individual are also computed using Excel’s SUM function. Conditional formatting may be employed to highlight instances when expenses exceed the planned budget, aiding in the immediate visual identification of financial overruns.
Saving Contribution
This section is calculated by summing all the individual contributions by the spouses across different savings categories like emergency funds, repayments, home repairs, etc. This total shows how much of your income each of you is setting aside in a structured manner to meet your savings goals.
Division of Expenses
This field is a critical component of the spreadsheet and is designed to illustrate how financial responsibilities are allocated between the two partners. Excel’s SUM functions, which aggregate expenditures from different categories allocated to each person, are used to automatically calculate each spouse’s expenses. Conversely, shared savings are determined by adding up all of the joint contributions from the savings head.
Budget Summary
Total Income: This figure represents the combined total income from both individuals. It is automatically calculated by summing up all income sources from Spouse 1 and Spouse 2. This includes salaries, wages, freelance income, rental income, and any other sources listed.
Total Shared Expenses: Similarly, this figure aggregates all expenses listed for both individuals, including individual and jointly incurred expenses. It’s computed by summing expenses from detailed categories such as accommodation, utilities, groceries, entertainment, and personal necessities for each spouse.
Disposable Income: This crucial metric, representing the amount of money available after all expenses have been accounted for, is automatically derived using a cell formula in Excel. The formula subtracts the total shared expenses from the total income and yields the disposable income.
Visual Elements
The spreadsheet includes two pie charts that serve as visual aids to complement the numerical data presented. These charts provide a graphical representation of the budget, and help you quickly understand the distribution of your finances in terms of income, expenses, and savings, as well as the division of expenses between the two individuals.
This budgeting template is more than just a financial resource; it also helps couples improve their financial understanding and partnership. With its availability in various formats, including ODS, XLSX, Excel, XLTX, and Google Sheets, it ensures that every couple can find a format that meets their needs, making it an indispensable asset for effective financial planning.
