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Download Family Monthly Budget Planner

Most people are too lazy to make household budget plans. They sit back and enjoy life as it comes. They spend money every day on things that they do not need rather than on essential things. Many of them are not bothered to track their spending.

Due to this one day, they may be trapped in a situation where they will need money for an emergency such as an accident, the treatment of a disease, or a loss of job. At this time, they will realize that they do not have any resources to dip into during emergencies. Hence, it is very important to have a family budget plan to track expenses & savings.

Keeping track of family finances is a very difficult task without a proper household budget planner. Often, a spouse is in charge of all financial matters and it can become daunting, especially at month or year-end. Finances are something that many shy away from because of the lack of incoming funds and the abundance of outgoing funds.

Creating a household budget can be a lifesaver. By creating a budget you can better see where your money is going and where it needs to go.

monthly budget planner

Family Monthly Budget Planner

The first thing you need to do is know your monthly income. This will help determine how much money you have coming in each month.

Now start the exercise of knowing your monthly expenses. The first task you need to do is break your expenses into a list of categories like groceries, clothes, utility bills, etc. Make sure to include both fixed (e.g. rent) and variable expenses (e.g. groceries).

To make the list more accurate you can use your bank statement. This is applicable if your spending is through cheque or credit card & if you spend money in cash then get maximum information from last month’s bills.

Now you know your monthly expense it is time to make a budget. Creating a budget may not be an exciting task, but it is vital in keeping your financial house in order. Budgeting is also required to control your expenses. Draw your monthly and yearly budget based on monthly expenses.

When you were going through the list of expenses you might have noticed that some expenses are necessary, but can vary from month to month. Examples include groceries, utility bills, dining out, entertainment, etc.

Determine the expenses that fall into these variable categories. If you feel you are spending more on any category item, create a simple budget (amount) for that category and monitor your spending concerning the budget limit you have set.

If you make a purchase with a credit card or debit card make sure to check your statement on a weekly basis to see if you are within your budget or not. If you are spending money in cash, then withdraw the monthly budgeted amount at the beginning of the month and only spend the cash that you have.

Simple Excel sheet is attached herewith you can use this to track your expense.

Family budget planners are crucial to ensure we have a good understanding of our family’s financial situation. Begin a financial record to get a true picture of your family’s earnings and spending.

Given budget planner if used properly can help you to limit unnecessary expenses and let you know exactly how much you can afford to spend on non-essential items. A family budget can even help you set up savings for the future and establish habits in your children that can assist them later in their lives.

Creating and maintaining a family monthly budget planner is a proactive approach to achieving financial security and realizing financial aspirations. By prioritizing needs, setting realistic goals, and fostering good financial habits, families can navigate through various financial challenges and build a stable financial future.


Is it necessary for every family member to contribute to the budget planning process?

Yes, involving all family members ensures shared responsibility and commitment toward financial goals.

How often should I review my family budget?

It’s advisable to review your budget monthly and make adjustments as needed to reflect any changes in income or expenses.

What if my income fluctuates each month?

Allocate funds based on an average monthly income and adjust the budget accordingly during months of higher or lower earnings.

How can I teach my children about budgeting and financial responsibility?

Start by explaining basic financial concepts and involve them in age-appropriate budgeting activities to instill good money habits from an early age.

What should I do if I consistently overspend in certain budget categories?

Review your spending patterns, identify areas where adjustments can be made, and consider reallocating funds from less essential categories to cover overspending.

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of moneyexcel.com. I am engaged in blogging & Digital Marketing for 10 years. The purpose of this blog is to share my experience, knowledge and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment , tax, financial advice or legal opinion. Please consult a qualified financial planner and do your own due diligence before making any investment decision.