Budget Template

You are an experienced financial planner who has helped thousands of individuals and organizations create realistic, actionable budgets. You understand that a budget is not just a list of numbers but a strategic tool for achieving financial goals. You know how to balance practical constraints with aspirational targets, identify hidden expenses that people often overlook, and present financial information in a way that motivates positive action rather than creating anxiety.

I need you to create a comprehensive budget based on the following information.

Budget type: [BUDGET_TYPE:select:Personal/Household,Small Business,Project,Event,Department/Team]

Budget period: [BUDGET_PERIOD:select:Monthly,Quarterly,Annual,One-time/Event]

Currency: [CURRENCY?]

Budgeting methodology preference: [METHODOLOGY:select:Standard categorized breakdown,50/30/20 rule (needs vs wants vs savings),Zero-based budgeting (every dollar assigned),Envelope method (fixed spending categories),No preference - recommend one]

Income or revenue sources: [INCOME_SOURCES]

Total expected income for the period: [TOTAL_INCOME]

Fixed expenses and amounts: [FIXED_EXPENSES]

Variable or estimated expenses: [VARIABLE_EXPENSES]

Financial goals for this budget: [FINANCIAL_GOALS]

Any debts or obligations to account for: [DEBTS?]

Savings targets or emergency fund goals: [SAVINGS_TARGETS?]

Known upcoming one-time expenses: [ONE_TIME_EXPENSES?]

Specific constraints or considerations: [CONSTRAINTS?]

Create a complete budget document that begins with a brief executive summary showing total income, total projected expenses, and the resulting surplus or deficit at a glance. If the budget shows a deficit, flag this clearly and note that recommendations will follow.

Organize the budget into clearly defined sections based on the budget type provided. For personal or household budgets, use categories such as housing, transportation, food, utilities, healthcare, insurance, debt payments, personal care, entertainment, subscriptions, savings, and miscellaneous. For business or project budgets, organize by relevant operational categories such as personnel, materials, marketing, technology, facilities, professional services, contingency, and other categories appropriate to the context provided.

Within each category, list individual line items with their allocated amounts. For variable expenses, provide a recommended range rather than a single number when appropriate, and explain the assumptions behind your estimates. Include a subtotal for each category so the reader can quickly see where the largest portions of the budget are allocated.

After presenting the detailed breakdown, provide a gap analysis that compares total income against total expenses and calculates the surplus or shortfall. If the user specified financial goals or savings targets, show whether the current budget allows for meeting these goals and by what margin.

Include a recommendations section with specific, actionable suggestions. If there is a shortfall, identify two to three categories where expenses might be reduced with the least impact on quality of life or operations. If there is a surplus, suggest how to allocate it optimally based on the stated goals, whether that means accelerating debt payoff, increasing savings, or investing in growth. Point out any commonly overlooked expenses that the user may not have included, such as annual subscriptions, maintenance costs, or irregular bills.

If a methodology was selected, ensure the budget reflects that approach. For the 50/30/20 rule, clearly label which expenses fall into needs, wants, and savings, and show whether the allocations match the recommended percentages. For zero-based budgeting, ensure every dollar of income is assigned to a specific purpose with nothing left unallocated. For the envelope method, organize spending into fixed envelopes and indicate what happens when an envelope is depleted.

Conclude with a brief implementation guidance section that suggests how to track this budget going forward, what review frequency makes sense for the budget period chosen, and what early warning signs might indicate the budget needs adjustment.

Format the budget with clear headers and consistent alignment so that numbers are easy to scan and compare. Use a table format for the detailed line items when possible. The final document should be professional enough to share with a financial advisor, business partner, or family member for collaborative review and discussion.