The Best 8 Templates of Budget Plan for Beginners

Looking for budget templates to help you get started with financial planning? Check out our list of the top 8 budget plan templates for beginners. These templates are easy to use and will help you stay organized and on track with your finances.

laptop and dollar sign on the light background

In today's whirlwind world, the juggle is real, which makes the skill of planning a budget more important than ever.

But if you're new to budgeting, it can be overwhelming to know where to start.

Mastering Money Management Basics

That's why we've put together a list of the 8 best budget plan templates for beginners.

blue banner for budget planning

These templates are easy to use and will help you get started on the right foot.

But that's not all – we understand the diverse needs of our audience.

Whether you're a diligent student, an ambitious young professional, a dedicated stay-at-home parent, or even a small business owner taking the brave leap into entrepreneurship, we've got you covered.

Each template in our collection is designed to cater to your unique financial scenarios, ensuring there's a perfect fit for every individual.

So, embark on your budgeting adventure with our specially designed tools, but first, let's see what steps you need to take to set a budget.

How to Set up a Budget Plan in 7 Steps

Get a Clear Picture of Your Finances: Collect All Relevant Documents

Gather all the necessary documents that provide insight into your financial situation.

This includes income statements, bank statements, credit card statements, and other relevant financial records. To streamline the process, consider using budgeting apps or software.

Determine Your Income

Next, calculate your total take-home pay after taxes and other deductions. This will give you a clear understanding of how much money you have coming in each month.

Track Your Expenses

Now, it's time to look at where your money is going. Identify both your fixed and variable expenses. Fixed expenses include things like rent or mortgage payments, car payments, and utility bills.

Variable expenses might include groceries, gas, and entertainment costs.

Define Your Financial Goals

Ask yourself what you hope to achieve with your budget. Do you dream of owning a home? Paying off debt? Enjoying greater financial freedom?

Having specific objectives in mind will help guide your budgeting decisions.

Select a Budgeting Method That Suits You

With your financial information gathered and your goals defined, it's time to choose a budgeting method that works best for you.

There are numerous options available, so exploring different approaches can be helpful.

50/30/20 Budget Method

This simple yet effective tactic implies that you divide your income into three categories:

  • 50% for needs
  • 30% for wants
  • 20% for savings.
simple budgeting method

It's a great way to ensure you're covering your essential expenses, making room for some fun, and still prioritizing saving for your future.

70/20/10 Budgeting

It is a variation of the 50/30/20 budget, with a higher allocation for savings. It's a good option for those who are prioritizing saving for a specific goal, such as a down payment on a house or retirement.

It's a great way to get a holistic view of your finances.

Zero-Based Budget Method

This method requires you to allocate every dollar of your income to a specific expense category.

It's a more detailed approach that can help you track your spending more closely and identify areas where you can cut back.

Budgeting for Students

banner for budgeting for students with illustration of latop, earphones and writing pad

This method implies calculating typical students' expenses, with categories for tuition, fees, and textbooks.

Cash Flow Budgeting

Focus on managing cash flow by prioritizing timely bill payments and maintaining a buffer of readily accessible funds. This approach helps avoid overspending and ensures that you always have enough liquidity to cover essential expenses.

Debt Snowball

Prioritize debt repayment by listing outstanding debts and focusing on paying off the smallest balance first. Once the smallest debt is paid off, redirect those funds toward the next smallest debt, creating a snowball effect.

Four-Week Budgeting

Break up your expenses into four equal parts, covering four weeks instead of a full month. Review and adjust your budget every four weeks to account for changes in spending patterns or unexpected expenses.

Create a budget plan

This is where you will allocate your income to your expenses and savings goals. Be sure to leave some room for unexpected expenses.

Review and adjust your budget regularly

As your income and expenses change, you will need to adjust your budget accordingly.

Here are some additional tips for setting up a budget plan:

📍Be realistic about your spending.
📍Don't try to cut back too much too soon.
📍Start small and gradually make changes to your spending habits.
📍Involve your spouse or partner in the budgeting process.
📍Reward yourself for sticking to your budget.

Remember, a budget is a tool to help you reach your financial goals. It's not a set of rules that you have to follow strictly. Be flexible and make adjustments as needed.

Simple Budget Template

by SavvyMama

in PDF

screenshot of Simple Budget Template

If you are searching for an easy way to track your finances, look no further than this Simple Budget Template!

It is a free printable budget template that has a user-friendly design and straightforward categories that include Fixed, Budgeted, and Actual Expenses, which makes it simple to stay on top of your spending.

Plus, it incorporates helpful features like calculating Total Income versus Total Leftover, so you can see exactly where your money is going.

Available for free, requesting signup

Easy Budget Planner

by PlannerDesignPro

in PDF

screenshot of Easy Budget Planner

With its simple, one-tab design, you'll be able to quickly input your income and expenses. But don't worry – template creators haven't sacrificed functionality for simplicity.

This digital template, which can be customized for weekly/biweekly/monthly/quarterly budgeting, includes powerful features like income, expense, and bill tracking, automatic calculations, and smart charts to help you continuously improve your budget.

Say goodbye to financial stress and hello to financial freedom with our 1-tab budget planner!

The price is $4.13

Money Under 30 Free Budget Spreadsheet

by Money Under 30

in xlsx

screenshot of Google Sheets Budget Template

Google Sheets offers a wide range of budget templates that can be accessed for free.

This is a detailed monthly budget template, organized into sections for income, expenses, savings, and totals, with columns for planned and actual figures and a calculated difference.

It's designed for tracking individual income streams and expenses.

Available for free

Notion 50/30/20 Monthly Budget

by Easlo

screenshot of monthly template in Notion

This monthly budget template is a visually appealing and easy-to-use version of the 50/30/20 budget. It includes pie charts and graphs to help you visualize your spending habits.

You'll love how easily you can customize it to fit your unique financial situation.

The price is $5

College Budget Template

by Vertex 42

in xlsx

screenshot of student budget template

With a budget plan template for students, they learn effective budget management, which helps reduce debts and pave the way for financial security and growth.

This yearly budget plan template in Excel is a great way to track the student's spending by semester.

It includes a detailed overview of expected expenses (tuition, food, transport, etc.), which helps young adults never lose track of their finances.

Available for instant download

Event Budget Template

by Smartsheet

in xlsx

screenshot of event budget template

A budget plan template for an event presented by Smartsheet covers all the important aspects, including venue costs, catering, logistics, and marketing expenses.

This free budget template in Excel is essential for successful event execution within a set financial framework.

Available for download

Cashflow Analysis Family Budget Template

by Microsoft

in xlsx

screenshot of cash flow analysis

This easy-to-use and impactful cashflow analysis budget template is designed for both families and individuals, allowing you to effortlessly monitor your monthly income and expenses.

With this entirely customizable template, you have the flexibility to easily modify text, images, and other elements, along with the liberty to creatively select from an extensive collection of photos, graphics, and fonts.

Available for free

Weekly Start-Up Budget Template

by Free Report

in xlsx

screenshot of budget template

With a budget plan template for business, entrepreneurs can feel confident about their strategic planning and financial forecasting.

Tailored specifically for start-ups, this weekly template helps in tracking operational costs, revenue, profit margins, and capital expenditures.

Available for download


Mastering the art of budget planning is a journey. Start with templates of our selection, and you will be equipped with the right tools.

Add to it your disciplined approach, and you will achieve financial stability and growth.

After all, a budget is more than just numbers; it's a roadmap to your financial goals.

💡For more insights and time-saving tips on effective budgeting, don't forget to sign up for TMetric Blog. Stay informed and take control of your time today!