Top 5 Excel tools for budgeting

1. Built-in expense tracker

If you’re not sure where to begin, Excel’s ready-made expense tracker templates are the perfect starting point. No need to design a spreadsheet or set up complicated formulas—just open a template, and you’re halfway there.

How to find one:

• Open Excel and go to File > New
• Search “Expense Tracker” or “Budget”
• Pick a template that fits your style, like:
• Personal monthly budget
• Simple expense tracker
• Household budget
• Travel expense tracker

Each template comes with categories, totals, and auto-calculations, so you can stop formatting and start tracking. They’re easy to customize with your own income, expenses, and savings goals, which makes them great for any type of personal budget.

Pro tip: Use the “Personal Monthly Budget” as your base, then add a second sheet for annual or irregular expenses like car maintenance or holiday shopping. You’ll get a clearer picture of your full financial landscape.

Effortlessly track expenses with Excel

Manage your finances with this free expense tracker template

Go to Excel

2. Budget charts and graphs

Once you’ve entered your expenses, use Excel’s charting tools to get a clearer picture of where your money is going. These visual budgeting tools make it easier to identify spending patterns and cut back where it matters.

Try this:

• Highlight your category names and amounts
• Go to Insert > Recommended Charts
• Choose a pie chart to see your spending breakdown or a bar chart to track changes month to month

Charts turn your data into a story—and help you adjust your budget planning in real time.

3. Copilot for AI budgeting insights

Excel’s built-in Copilot feature uses AI to make budgeting smarter—and a whole lot easier.¹ Instead of trying to write formulas or remember how to build a chart, you can simply ask Copilot a question in plain language and get instant, personalized insights.

It works right within your spreadsheet, reading your data and giving you exactly what you need—whether that’s a quick summary, a detailed comparison, or a full visual breakdown.

Here’s what you can ask:

• “Where did I spend the most last month?”
• “Show me a chart of my food and entertainment expenses over time.”
• “Which category has increased the most since January?”
• “How can I adjust my budget to save an extra $200 a month?”

Copilot can:

• Highlight trends or anomalies in your spending
• Offer insights into patterns you might miss
• Run “what-if” scenarios to help you plan smarter (e.g., “What if I cut dining out by 25%?”)

It’s a powerful tool for anyone learning how to budget or trying to improve their financial habits without spending hours analyzing spreadsheets.

4. OneDrive sharing and collaboration

Budgeting with a partner or housemate? Excel’s collaboration features make it easy to co-manage a personal budget:

• Save your sheet to OneDrive²
• Click “Share” to give others access
• Add comments or updates together in real time

You’ll both stay on the same page, whether you’re splitting bills or planning savings goals.

Pro tip: Tag your partner or roommate in a cell comment using “@” mentions (e.g., “@Sam, was this grocery charge yours?”). It keeps the convo transparent and cuts down on awkward follow-ups.

5. Monthly tabs and reminders

The real key to budgeting success? Consistency. Excel makes it easy to stay in rhythm.

• Create a new tab each month to track changes
• Set a quick reminder in your phone or calendar to update your sheet
• Ask Copilot for monthly summaries or changes in trends²

It doesn’t have to be perfect—just 10 minutes once a month can keep you in control and prevent budget surprises.

Build a budget you’ll actually stick to

Between busy schedules and shifting expenses, it’s easy to let budgeting slide. But with Excel’s templates, charts, and built-in AI, staying on top of your money is simpler than ever.

Open Excel in Microsoft 365, pick a template, and take the first step toward better budget planning today.

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