Creating a Budget in Google Sheets: A Simple Guide

Creating a Budget in Google Sheets: A Simple Guide

Hey there! Today, I want to share with you a step-by-step guide on how to create a budget using Google Sheets. Trust me, it’s much easier than it sounds! With the help of this handy tool, you’ll be able to take control of your finances and track your expenses like a pro.

First things first, you may be wondering, why Google Sheets? Well, it’s a free and user-friendly spreadsheet program that allows you to organize your budget in a clear and structured manner. Plus, it’s accessible from anywhere with an internet connection, which means you can check your budget on the go!

Alright, let’s dive in. Here are the steps to get you started:

Step 1: Open Google Sheets and create a new spreadsheet. Don’t worry, it’s super easy. Just go to your Google Drive, click on the “+ New” button, and select “Google Sheets”. Voila!

Step 2: Set up your budget categories. Think of these as different sections for your income and expenses. You can choose the categories that work best for you, such as “Income”, “Housing”, “Transportation”, “Food”, and so on. Be as detailed as you want!

Step 3: Fill in your income. In the “Income” section, enter all the money you receive regularly, like your salary or any side hustle income. Google Sheets will do the math for you, so no need to grab a calculator!

Step 4: Track your expenses. In each expense category, list all your spending. This can include bills, groceries, gas, entertainment, and anything else that’s part of your budget. Remember, honesty is key here. Be sure to include every expense, no matter how small.

Step 5: Monitor your budget. As the weeks go by, keep updating your expenses in Google Sheets. This will help you stay on top of your spending and identify any areas where you may be overspending. Awareness is crucial!

Step 6: Analyze and make adjustments. Take a moment to review your budget periodically. Are there any categories where you can cut back? Are there areas where you’d like to allocate more funds? Use this information to fine-tune your budget and make it work for you.

And that’s it! With these steps, you’re well on your way to creating a budget that fits your needs and helps you achieve your financial goals. Remember, it’s all about being intentional and mindful of your money.

So go ahead, give it a try! I believe in you, and I’m here rooting for your financial success. Happy budgeting!

How to Create a Budget in Google Sheets

Ever since Excel came into existence, people have been using it for budgeting. But nowadays, more and more folks are making the switch to Google Sheets. And it’s not hard to see why – Google Sheets is simpler to use and you can access it from all your devices.

So in this article, I’m going to guide you on how to effectively use Google Sheets for budgeting. Whether you want to use one of its ready-made templates or create your own sheet, I’ve got you covered.

Budgeting Templates

If you’re in a hurry and don’t have time to create your own custom spreadsheet, no need to worry. Google Sheets offers a wide range of free templates that you can customize to meet your personal needs. Let me show you how to find and utilize them. I’ll use the Monthly Budget template as an example, since most people track their expenses on a monthly basis. Here’s what you need to do:

Creating a Budget in Google Sheets: A Simple Guide

  1. First, open Google Sheets.
  2. Next, navigate to the Template gallery.
  3. Scroll down until you find the Personal section.
  4. Select the Monthly budget template.

When you open the spreadsheet, you’ll see that it already contains some sample amounts. However, it’s important to clear the Transaction and Summary spreadsheets properly. Simply deleting the amounts won’t suffice, as it could affect the formulas in the sheet.

Creating a Budget in Google Sheets: A Simple Guide

Hey there! Want to make some changes to your transactions? No worries, I’ll walk you through it step by step.

First, let’s start at the bottom of your screen. Look for the “Transactions” option and give it a click. Now, we’re ready to go!

Okay, to remove the sample amounts for Rent and Paycheck, we need to select the entire row. Simply click on the row you want to modify. Got it? Great!

Now that the row is selected, let’s move on. Look for the “Edit” option and click on it. A new menu will appear.

In that menu, you’ll find the “Delete Values” option. Make sure you click on it to remove those sample amounts. Woohoo, progress!

Now, don’t forget to repeat this process for the other row that needs tweaking. You’ve got this!

And there you have it! By following these steps, you’ll be able to remove those sample amounts from your transactions. Give yourself a pat on the back for a job well done!

Creating a Budget in Google Sheets: A Simple Guide

Okay, so here’s the deal. First things first, scroll down to the bottom of the screen and give that “Summary” button a little click. Now, raise an eyebrow at cell L8 and swap that $1000 with a nice, round $0. Oh, and don’t forget to do the same for those Home and Paycheck amounts. And just like that, bam! You’ve got yourself a fresh, clean spreadsheet ready for you to work your magic and fill it up with all your important info.

Creating a Budget in Google Sheets: A Simple Guide

Create a Budget in Google Sheets

Customize the Template for Your Budgeting Needs

Hey there! Budgeting is a personal thing, and it’s important to make it work for you. That’s why I’ve made it super easy for you to customize this template to fit your unique circumstances. You don’t have to stick with just the Transactions and Summary spreadsheets – you can add more if you need to. Trust me, it’ll make managing your finances a breeze!

First things first, let’s add a third spreadsheet for your Fixed Expenses. These are the costs that you know you’ll have to deal with every month, like utilities, your mortgage, or subscriptions. Simply go to the bottom left corner and click on “Add Sheet”.

Give your new sheet a name – something like “Fixed Expenses”. Then, you can add as many expense categories as you need. Think about all the things you have to pay for regularly and jot them down. Remember to include the amount you have to pay for each category every month. Once you’ve done that, add up all your fixed expenses and enter that total in the Summary spreadsheet. I suggest using the first column in the Summary sheet to keep things organized.

Awesome! Now that you’ve taken care of the fixed expenses, you can focus on your daily spending. This is where things get interesting. In the Summary spreadsheet, you can create new columns based on the things you spend the most money on. This way, you’ll have a clear idea of where your money is going. Add columns like Groceries, Clothes, Entertainment, and even Coffee (yes, your beloved caffeine fix!). Trust me, you’ll be surprised at how much money you may be unknowingly spending on that cup of joe.

Pro tip: To make things easier for yourself, make sure to create a copy of your customized template and use that for your budgeting needs. This way, you’ll have a ready-to-go template every month, without having to start from scratch. And if any unexpected expenses crop up, like if you need to fix your car in August, just add a new category for that month without changing the original template. Simple as that!

How to Create Budget in Google Sheets

How to Personally Create Your Own Template?

If you’ve got the time, it’s a smart move to make your own budgeting template. This way, you can personalize it based on your specific needs and spending habits. Here’s a detailed guide on crafting your own budgeting template:

  1. Start by opening a new spreadsheet.
    Creating a Budget in Google Sheets: A Simple Guide
  2. Next, create categories for your income and expenses. You have the freedom to choose however many categories you’d like.
    Creating a Budget in Google Sheets: A Simple Guide
  3. Now, create three columns: one for your planned income and expenses, another for your actual income and expenses, and the final one to show the difference between the two.
    Creating a Budget in Google Sheets: A Simple Guide
  4. Utilize the SUM formula to add up the amounts from each column.
    Creating a Budget in Google Sheets: A Simple Guide

That’s it! You’ve got yourself a customized template. To get started, simply input your budget for a specific time period. It can be for a week, a month, or even a year – whatever suits you. From then on, all you need to do is regularly update your budget after each transaction you make. This includes even the smallest amounts, as they can accumulate over time and make a significant difference.

Remember, practice makes perfect! If you’re new to budgeting, don’t worry if you can’t stick to your budget perfectly in the first month. Don’t let this discourage you from budgeting altogether. In fact, it can provide valuable insights and help you identify areas where you can save money and better understand where your money is going.

Make Use of the App!

One major perk of Google Sheets is the convenient mobile app it offers. This app allows you to effortlessly track your daily expenses right from your smartphone. Since you carry your phone with you all day anyway, you can easily refer to your budget before making any financial decisions. It’s a great way to keep tabs on your remaining funds for the month and determine if a purchase is truly worth it.

Do you have any other budgeting tips to share? What works best for you? Let us know in the comments below.

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