About Prompt
- Prompt Type – Dynamic
- Prompt Platform – ChatGPT, Grok, Deepseek, Gemini, Copilot, Midjourney, Meta AI and more
- Niche – Finance
- Language – English
- Category – Financial Planning & Reporting
- Prompt Title – Prompts to Create Monthly Budget
Prompt Details
This prompt is designed to generate detailed monthly budgets across various AI platforms, catering to diverse financial planning and reporting needs. It leverages dynamic input parameters to allow for highly customized budget creation.
**Prompt Structure:**
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Generate a detailed monthly budget for [Month, Year] for [Individual/Household/Business Name], considering the following parameters:
**1. User Information:**
* **Type:** [Individual/Household/Business]
* **Name:** [Name of individual, household, or business]
* **Location:** [City, State – for location-based cost adjustments]
* **Financial Goals:** [e.g., Save for down payment, Reduce debt by X%, Increase savings by Y%]
* **Risk Tolerance:** [Conservative/Moderate/Aggressive – influences investment allocation within the budget]
**2. Income:**
* **Salary:** [Annual/Monthly salary – can be multiple entries if multiple income sources]
* **Other Income:** [e.g., Investments, Rental income, Side hustle income – specify source and amount]
**3. Expenses (Categorized):**
* **Housing:** [Rent/Mortgage, Property taxes, Home insurance, HOA fees]
* **Utilities:** [Electricity, Water, Gas, Internet, Phone]
* **Transportation:** [Car payment, Insurance, Gas, Public transport, Maintenance]
* **Food:** [Groceries, Dining out, Meal prep services]
* **Healthcare:** [Insurance premiums, Doctor visits, Medications]
* **Personal Care:** [Haircuts, Gym memberships, Cosmetics]
* **Debt Payments:** [Credit card payments, Student loan payments, Personal loans – specify interest rate for each]
* **Entertainment:** [Movies, Concerts, Streaming subscriptions, Hobbies]
* **Education:** [Tuition, Books, Online courses]
* **Savings & Investments:** [Retirement contributions, Emergency fund contributions, Investment allocations – specify asset classes and target percentages]
* **Other:** [Any other recurring or anticipated expenses – be specific]
**[Optional] Historical Data:**
* **Provide past [Number] months of transaction data (CSV/Excel format):** [Paste or upload data – optional but highly recommended for accurate budgeting based on past spending patterns]
* **Specific areas to analyze from historical data:** [e.g., Identify areas of overspending, Optimize recurring expenses, Analyze spending trends]
**Output Requirements:**
* **Format:** [Table/Spreadsheet – specify preferred software if applicable (e.g., Google Sheets, Excel)]
* **Level of detail:** [Summarized/Detailed – summarized shows category totals, detailed breaks down expenses within each category]
* **Include:** [Projected income vs. expenses, Net income/loss, Savings rate, Debt-to-income ratio, Analysis of budget against financial goals, Recommendations for budget optimization]
* **Visualizations:** [Charts/Graphs – specify desired visualizations, e.g., pie chart for expense breakdown, bar graph for income vs. expenses]
**Example Usage Scenarios:**
* **”Generate a detailed monthly budget for July 2024 for John Doe, an individual living in San Francisco, California, whose financial goal is to save for a down payment on a house within 2 years. His annual salary is $100,000…”** (Continue with other parameters)
* **”Generate a monthly budget for October 2024 for the Smith Household, located in Austin, Texas, with a conservative risk tolerance. Their combined monthly income is $8,000…”** (Continue with other parameters)
* **”Generate a monthly budget for November 2024 for “ABC Company,” a small business in New York City, aiming to increase profitability by 10% in the next year. Their projected monthly revenue is $50,000…”** (Continue with other parameters)
This dynamic prompt allows for flexible budget creation by adapting to individual, household, or business needs, incorporating historical data, and offering tailored outputs with specific analysis and visualizations. Remember to replace the bracketed placeholders with the relevant information. The more detailed the input, the more accurate and useful the generated budget will be.
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This detailed prompt allows for customization and caters to the specific needs of financial planning and reporting, making it suitable for a variety of users and scenarios. It provides clear instructions for the AI, leading to better-quality output. Remember to adapt and refine this prompt further based on specific needs and the chosen AI platform.