When my husband and I graduated college over $90K in debt, I felt overwhelmed. How would we manage our income and pay off these debts without getting into more debt? Thankfully, I found budgeting early on and it really helped us in our marriage!
This post has the tips and tricks for couples to manage their household budget in excel using the best excel budget template for couples!
This Google sheets friendly budget template is simply stated THE BEST monthly couple budget template for couples to learn how to get started budgeting, which is what I’ll talk about in this post!
In this post, if you’re not ready to grab the Excel spreadsheet above, I’ll lay out everything you need to include to set-up your own monthly budget template! It doesn’t have to be overwhelming, I’ll give you the step-by-step!
Let’s dive in!
This post was originally posted in 2019 and was updated November 2024.
There are affiliate links in this post. This means if you make a purchase using one of these links, I might receive a commission at no additional cost to you. Thanks for supporting the blog!
The Best [Excel] Budget Template for Couples
The Best Monthly Family Budget Template + Budget Tips for Married Couples
What’s covered in the post – Table of Contents
- “Where do I even start when it comes to budgeting? I’m so overwhelmed!”
- The Best Excel Budget Template for Couples
- Budget Basics 101 for Beginners: Tips to Set-up Your Budget Spreadsheet for Couples
- 3 Popular Budgeting Strategies to Include in Your Personal Budget Spreadsheet
- 50/30/20 Rule
- Basic Budget Categories
- Zero Based Budgeting
- Other Spreadsheets to Include in Your Household Budget
- 3 Popular Budgeting Strategies to Include in Your Personal Budget Spreadsheet
- 9 Money Management Tips for Young Couples to Be Successful
- Why You Should Create Your Own Monthly Budget as a Couple (& not pay a monthly subscription)
- How to use a family budget as a couple effectively
- How to not fight about money with your spouse
- Tips to create the best joint family money blueprint – How often should you meet with your spouse to discuss money?
- How we’ve used budgeting to pay off debt and plan for our family
- Common Questions/FAQs
“Where do I even start when it comes to budgeting? I’m so overwhelmed!”
The link above is to a course that includes an awesome budget template that’s super easy to use and provides video guidance on how to set it up! So, not only do you get the budget, but you also get the step-by-step guide to work through the budget as a family! BUT, my favorite part of the course is probably the financial vision worksheet to set your long-term goals TOGETHER. It’s the basis of a marriage financial planning worksheet.
There are a ton of awesome benefits of managing a budget as a couple.
If you are going to DIY your budget as a couple, the simple, short and sweet answer is to know your income and your joint basic expenses, and you’re more than halfway there.
I also have some great other resources available for free to help you manage your budget.
This free Simple Budget Template Printable is a great place to start with a napkin-style budget. If you’re looking to start a Budget Binder, this starter pack is FULL of 24 pages of awesomeness to get you started budgeting.
Sometimes the hardest part is just getting started… Just do it! It doesn’t have to be perfect at first.
Quick Monthly Budget Printable Worksheets
Track expenses quickly and easily with these free budget templates. Customizeable and easy to change from month-to-month, these pretty budgets are perfect to add to a home binder!
Use these money saving worksheets to get control of your money and start living the way you WANT. A good budget helps you achieve your dreams and makes you feel good about your money again.
This free budget pack also includes 3 worksheets – a simple and quick monthly budget planner, a monthly expense tracker, and a yearly budget tracker to see your positive net growth each month!
I love that each of these is designed individually and slightly different – because everyone is different in how they handle money!
<< Download the Quick Monthly Budget Printable Pack here >>
You might also like the free Simple Monthly Budget Printable that is zero-based from this post!
The Best Excel Budget Template for Couples
The best tool to get manage money when you’re first married is absolutely a spreadsheet.
You don’t necessarily have to be good with Excel in order to have a budget that works well for you!
I recommend The Simplified Budget for Families spreadsheet and course for couples wanting to start their budget because it’s super easy to complete and encourages you to finish the process. It DOES cost some money but I think it’s well worth the investment (of course)!
But, if you want to create your own, I’m going to talk about what you should include! Using Google Sheets or saving your Excel to Dropbox will allow you to both access it.
Here is a free basic Google Sheets Budget Template for Couples to try. You will be able to save a copy in your Google Drive. I used a basic template and added an account/net worth tracker to it as well.
Budget Basics 101 for Beginners: Tips to Set-up Your Budget Spreadsheet for Couples
A monthly budget is more than just a spreadsheet with numbers. It’s an alignment of your daily actions to your family vision.
The basic budget worksheet should include:
- Take Home Pay for each person
- Joint Bills & Individual Bills
- Quality of Life Nice to Haves
- Savings Goals – Short & Long Term
Check out the Beginner’s Guide to Budgeting for more tips.
3 Popular Budgeting Strategies to Include in Your Personal Budget Spreadsheet
After you write down your take-home pay on the spreadsheet, here are some other things to consider including as you organize your budget. I will give you 3 different ways to set up a budget based on your preferences. Everyone manages money differently so you have to find what works for you and your spouse!
The best budget template is one that you can actually stick to.
1. Simple Budget Categories Based on Percentages
Decide a simple budget breakdown for your template.
The 50/30/20 rule means 50% of your take home pay goes to needs, 30% to wants, and 20% to savings. With this type of budget, your money is simplified into percentages to be easy to maintain.
Simplify multiply your take home pay by 50% to get your needs number. This should include mortgage, utilities, car payments, and groceries just to name a few. If you bring in $2,700 per month, this means you have $1,350 to go towards housing, transportation and food.
It is definitely something to consider BEFORE buying a house or finding a place to rent.
If you find your “needs” category is more than 50% of your take-home pay, this simply means your wants category might be lower, and you might find yourself “house poor” until you can either increase your income or decrease your major expenses.
I always recommend 20% for savings no matter your stage or season of life. It’s a great habit to get into to live below your means. And if you consider it a “hard rule” that you can’t break, you will set yourself up for huge success. This was how my husband and I paid off $90K in debt within 4 years and also started our path to a one income family.
I talk about the 50/30/20 rule more in the this post, which includes 24 easy ways to save more money.
2. Budget categories for the “Big items”
If you don’t want to follow the 50/30/20 rule, then you have other budgeting methodologies to choose from! Yay options! I was always taught these categories:
- housing
- transportation
- food
- other expenses
- debts
- savings
I threw in debts because I know that’s a huge goal for many families to finish paying off student loans and credit card debt.
3. Use the Zero-Based Budget Mentality
A zero-based budget assigns a job to every single dollar including savings goals.
I hear so many people say, “Well, I don’t need a budget, I’m frugal and then whatever is left in my account I save.” The problem with this, is eventually the money will slip through your fingers like sand and you won’t even realize it!
At the end of the month, so many people say, “I just don’t know where my money went this month.”
Giving every dollar a job at the beginning of the month means you’ll be taking that vacay in no time!
Reminder that there’s a FREE one worksheet zero-based budget HERE and there’s a 24 page budget binder starter pack with a year long zero-based budget ready to be printed right here. Grab the starter pack!
Other Spreadsheets to Include in Your Household Budget
1. A Daily Expenses Tracker
A good budget should encourage you to track expenses daily so that it’s easy to add up your totals at the end of the month!
As you get better with your spreadsheet skills, you’ll probably be able to use formulas and graphs to better track habits and see average spending throughout the year. There is a free PDF expense tracker in the budget binder starter pack.
2. A Monthly Expenses Tracker
A monthly expense tracker allows you to see annual trends. How much do you spend each month on utilities throughout the year? Or on categories like gifts, car maintenance, and vet visits? Tracking from month-to-month gives you a clear picture of your habits.
3. A Bills Tracker
The next three are pretty similar but are all important pieces of managing your finances.
The Bills Tracker – Debt Tracker – and Money Goals Tracker
Can’t remember if you’ve paid this month’s utility bills because they haven’t converted to the 21st century yet and you still have to write a check?
Just write down the date on your bills tracker to always stay on top of your bills!
4. A Debt Tracker
Trying to pay off debt, add a pretty graph to track your progress. Use a free resource like PowerPay.org to create a debt repayment plan.
5. A Money Goals Tracker
Have lots of money goals? Vacations coming up? Saving for kids’ vacations? Want to buy a new bike?
Focus on one goal at a time. Each time you reach a goal, you’ll feel sooo good about yourself and it will encourage you to keep saving money!The Purpose of a Budget
Raise your hand if the idea of a budget sounds awful, restrictive, and conjures up pathetic, sad puppy faces and no life. Well, contrary to that opinion – I’ve actually found real freedom in budgeting because I know where my money is going.
While I go over the basics of budgeting here and talk about budget categories for families here, it’s important to understand what a budget is actually for!
A budget is assigning a future job to every dollar that you earn.
It is allocating the money ahead of time. I like to think of it as my SPEND PLAN on alllll the things I can spend money on.
Related Post: 24 Easy Ways to Save More Money on a Tight Budget
9 Money Management Tips for Young Couples to Be Successful
1. Trust and Transparency: The biggest piece is creating a culture of trust. Be open about all purchases made so that everyone is on the same page.
2. Joint Accounts: I’m a big supporter of joint accounts re: #1. Plus, I think they reduce the amount of “management.” Less money moving from account to account. Less bank accounts to pull at the end of the month. More communication requirements. More trust.
3. Set up monthly meetings: You might even need to talk more often that that. Discuss your budget, your spending habits, your wins, and your struggle areas.
4. Set goals together: There’s nothing like a fun reward to motivate you to stick to a new habit. Plan a fun date night or an ice cream surprise when you reach one of your goals.
5. Be patient and Listen: If all of this seems overwhelming, then consider just starting with tracking expenses. Just doing this one act will give you an idea of your spending habits. Know that it will take time to make changes.
6. Recognize your differences: You both come with baggage. You both come with bad habits. Be each other’s encouragement as you both strive to make changes to better yourselves and your marriage.
7. Stick to plan you both create: The great thing about pre-planning is you can make a commitment at the beginning of the month to do your best to stay on track. Just remember grace over “being right!”
8. Consider a bi-weekly budget: If you get paid twice a month, consider switching up your budget to match your paycheck!
9. Divide and conquer: Split-up responsibilities so all the weight isn’t resting on one person!
Why You Should Create Your Own Monthly Budget as a Couple (& not pay a monthly subscription)
I’m the spender in the family. My husband the saver. Do you see the potential conflict here?
Frugal living doesn’t come naturally to me. So, to justify going out to eat, splurging on certain gifts, but also planning for retirements and future vacations, we created a budget so my husband and I would be on the same page as a couple and not fight about needing to save more.
We created our OWN budget because nothing fit us perfectly that was online. In the beginning, I did NOT want to spend money on a monthly subscription to maintain our finances. I just wanted to forecast our budget and be done paying for anything!
This is why when you first start budgeting, you should absolutely create your own monthly budget spreadsheet rather than paying a monthly subscription to something you might not use.
Here are a few snapshots of the budget we personally use in OUR family! It is provided in the Simplified Budget for Families course to give you an example of what I’m talking about!
The investment in your marriage is a huge plus, but also here are more benefits to household budgeting:
- increased net worth
- less stress because you’re not living paycheck-to-paycheck
- increased communication,
- reduced stress and tension in your marriage, and
- a realization that you DO have the money to reach your goals while still living the life you want
It’s time for you to take control of your money my friend… instead of letting the money control you!
Related Post: 24 Easy Ways to Save More Money on a Tight Budget
How to use a family budget as a couple effectively
Here are a few tips to effectively manage that budget as a couple:
1. Transparency
Absolutely, the first key is transparency. Don’t keep secrets when it comes to (anything) but definitely not money! Establishing transparency from the beginning establishes trust.
2. Create Your Budget
Using the tips above, open up Excel and start estimating expenses. Just go from there! I personally like to use Google Sheets because it is easy to access from my phone and I can share it with my spouse.
Grab this free Google Sheets Budget Template for Couples.
3. Track Your Actual Spending
Every month (or weekly or daily… whatever works best for you), track your expenses and compare it to your plan! Did you stay within budget?
4. Correct Your Mistakes from Last Month
If you overspent in some areas, NO WORRIES. Correct for the next month and move forward. Budgets are actually living changing documents… not things that are set in stone.
5. Schedule Your Monthly Family Meetings
Make sure to add your monthly meetings to the calendar wayyyy in advance to make sure they happen.
6. Use this “Must-Have” Budget Category
If you’re feeling restricted when it comes to money, you should definitely include a “FUN MONEY” category for each spouse. This is a guilt-free budget category. No questions asked. It gives a little independence and a little chance at freedom.
7. Make your money talks fun
Plan a fun activity or date night for your “money talk” nights! Make it fun so that you don’t dread doing it! It should be something that edifies the relationship not tears it down.
8. Rinse and repeat every month
Just remember to keep on, keepin’ on. Each month check actual spending, compare to your plan, and flex where necessary!
How to not fight about money with your spouse
I’ve found the best way to not fight about money is to have an awesome monthly family budget laid out in full detail (this is why I love these 57 budget categories). The best kind of budget spreadsheet:
- increases communication between you and your spouse
- is detailed enough to make a difference, but
- simple enough to maintain.
- It’s also great for couples if you can both access the budget online!
Tips to create the best joint family money blueprint – How often should you meet with your spouse to discuss money?
Annually and monthly. That is the simple and sweet answer.
The biggest tip I can suggest is to meet and talk about money regularly in a safe environment! Schedule one big annual meeting at the beginning of the year, and follow it up with short meetings monthly. Make it fun! Go get coffee, have a fun charcuterie dinner, or pick up your favorite acai bowl.
These two types of meetings are foundational to a healthy financial relationship in your marriage. My husband and I meet regularly to talk about our financial goals, challenges, and desires.
What to discuss at annual meetings as a couple
- Roles and Responsibilities
- Family History with Money
- Current Debts and Obligations
- Any Housing Changes in the past year
- Joint Financial Goals: Short & Long Term
- Desires for the next year
- Family Vision in 5 Years
- Review of Insurance Needs
- Current Net Worth
What to discuss at monthly budget meetings with your spouse
- Actual spending last month
- Upcoming unusual spending
- Change in pay
- Vacations planned
- Travel ideas for the next 3 months
- Areas of improvement
- Revisit short term goals
How we’ve used budgeting to pay off debt and plan for our family
Over the last almost 10 years of marriage, I’ve adapted our budget to meet our family needs. We paid off $90K in debt in about 4 years, bought two new cars in cash 3 years later, bought two different houses, and now have 3.5 kids! It wasn’t always perfect, but we were always trying to do something.
Every few months I created a new budget to meet our changing income and expenses. Maybe we got a small promotion. Or we were planning for a vacation. Or we paid off one of our debts. It didn’t matter the reason, it just mattered that it was easy to adjust our budget and see where our money was allocated!
Common Questions/FAQs
Where should we keep an Excel Budget to we can both use it at the same time?
I personally prefer Google Drive or Dropbox! But even sharing it on your home network would be great!
Printed v. Electronic Budget Binder – which is better?
While there’s something to say for a pretty printed budget binder because of the REALNESS of it (and hey, I totally love and support you if you prefer this!) – I’m terrible at them because I don’t like paper and I wouldn’t want to carry it around with me.
On the other hand, an Excel spreadsheet is super-duper easy to update and integrate with my bank account. I heart spreadsheets because…..
1. Spreadsheets are customizable.
2. Spreadsheets use formulas to quickly give you the bigger picture, saving you time.
3. Spreadsheets are shareable.
4. Spreadsheets allow you to download transactions from your bank and then quickly copy numbers over.
5. Spreadsheets can be quickly accessed from your phone (Google Drive, Dropbox, etc.)
What are some budget tips for young couples?
If you’re newly married, you might be wondering how other couples handle finances. Here are some real-life money management tips from other married couples!
How to save more as a family
Personally, I’ve seen people “find” $400 per month just by starting their first budget. But, some other great tools to learn how to save more money are the Simple Savings Challenge and the 15 Day No Spend Challenge!
Saving more to plan for that next vacation doesn’t always mean cutting all your expenses, it mostly means remembering your priorities for living out your life!
How do I start a budget I can stick to today?
- KISS Method – Keep it Simple, Sweetie: If all of this is overwhelming at first, just start with some simple! Automatically transfer savings at the beginning of the month and whatever is remaining, you should be good to spend!
- Get click-by-click instructions to set-up your budget. I’ll show you a simple way to create a budget that is easy to stick to without much thought. Don’t waste your time formatting and setting-up a budget or scouring the internet any longer for the “perfect” budget for you. Sign-up for the Simplified Budget for Families course for step-by-step instructions to set up your customizable budget and prepare for the future.
- Start small. Grab the budget binder starter pack for only $7.
Last thing you need to know about budgeting for couples
You can have all the tools in the world but if you don’t have communication and trust, this won’t help. Don’t forget to include your spouse in all of these money discussions!
Practice using patience and recognizing that this is a process.
I know you can do this, mama! There’s hope at the end of the tunnel!