Intentional Spending Template
A Free Budgeting Tool
Like you, I’ve purchased and tried out a ton of budget templates—none of which gave me a breakdown from an intentional spending point of view. So, I decided to create my own and share it for free!
An intentional spending budget breaks your expenses into categories (like essentials, appearance, entertainment, savings, etc.), showing you exactly how much of your income is going to certain areas of your life. This clarity helps you identify overspending and the areas where you can make better financial decisions.
Unlike traditional budgets, an intentional spending template also guides you on what to do next. If you have extra funds or if you’re falling short in allocating money towards your goals, it provides actionable steps to reallocate your money in a way that makes the most sense for your priorities. It’s not just about tracking your current finances—it’s about planning for the future. It helps you see what adjustments you need to make to achieve the goals you entered.
Two Key Factors About This Template
Detailed Spending Pie Chart: It calculates what percentage of your income is going to certain categories in your life. This level of detail allows you to see whether you’re spending less than or more than the suggested expense percentage for that category. For example: Your ‘Convenience’ expense is taking up 7% of your income, but the goal is equal to or lower than 5%. It even shows the percentage spent on each expense within those categories, so you can visually see how much space things like coffee take up.
Adding Future Goal Expenses: The last tab provides an overview of your financial status, showing whether or not you can afford to add in the future financial goals you input earlier. It then makes suggestions if you have remaining money in your budget but not enough to reach your future goals. It guides you on ways to allocate those funds more effectively to close the gap between where you are and where you want to be.
In short, an intentional spending budget helps you make mindful, purposeful choices with your money so you can live a life that reflects your values while working toward a financially secure future. It’s more than just a budget—it’s a way to take control and live intentionally.
Here's a detailed breakdown of its components:
Welcome: An introduction to the template and its purpose. This tab sets the tone for intentional spending and gives you a quick understanding of how the tool works.
Instructions: Step-by-step guidance on how to set up the template and the definitions you should know. This tab walks you through each section, ensuring that you input data correctly and get the most value out of the tool.
Setup: The foundation of the template—input your income, expected expenses, and financial goals here. The Dashboard tab calculates how much you're allocating to different categories and sets the stage for deeper analysis.
Dashboard: Your financial snapshot. After adding your actual expenses, this tab visually breaks down your spending by category and percentage—allowing you to see where your money is going and how it compares to the ideal spending targets.
Important Things to Know: A cashflow summary that evaluates whether you have enough remaining funds to meet the goals you set in the Setup tab. It also offers guidance on what to do if you don’t have additional funds to allocate toward your goals.
Because this template requires a lot of detail, I recorded a tutorial with a voiceover. I suggest you watch the video first, then use it to set up your budget. This will help you fully understand its benefits and how it can work for you. After watching the video, click the link below and select ‘Make a Copy’ of the template to start editing.
GET YOUR FREE INTENTIONAL SPENDING TEMPLATE HERE!
If you have any questions or errors when using the template, don’t hesitate to email me at financingwithfaith@substack.com.