How to Make a Budget in Google Sheets (Step by Step)

You can create your own rid Google Sheet budget template in less than an hour. You ’ ll memorize more about your money and how you think about it. There are dozens of tools for making a budget, tracking bank accounts, and create savings goals .
But before you invest in complicate money management tools, it might be better to just make a budget in Google Sheets .
You can create your own free Google Sheet budget template in less than an hour. And by building your own budget, you ’ ll learn more about your money and how you think about it.

late, when you ’ rhenium ready, you can easily upgrade to a spare Google spreadsheet budget powered by Tiller Money .

Table of Contents

A simple, step-by-step guide to creating a budget in Google Sheets

Step 1: Open a Google Sheet

Go to your Google Drive report. On the leave sidebar, click “ New ” and “ Google Sheet. ”
Make-New-Google-Sheet

Step 2: Create Income and Expense Categories

Categories are the backbone of a budget. There international relations and security network ’ thymine a “ mighty ” number of categories. however, you want adequate categories to encompass all your income and expenses without creating unnecessary complexity .

If you find that specificity helps you maintain better control of your finances, you may want to add subcategories to more close track certain expenses .
This is specially helpful if you ’ re trying to reduce your expenses in a specific area of your finances .

Step 3: Decide What Budget Period to Use

You may want to budget daily, weekly, bi-weekly, monthly, or annual. Which period you use could depend on :

  • Pay frequency
  • How closely you want to monitor your finances
  • How much time you want to spend updating your budget spreadsheet

You can besides use multiple budget periods simultaneously. In fact, most budget apps and software track income and expenses by month. They then extrapolate the budget out to a year .
careless of the budget period, you ’ ll want to create three columns :

  • A column for your budgeted income and expenses
  • A column for actual income and expenses
  • A column showing the difference between the two, so you can see a complete picture of your progress

Step 4: Use simple formulas to minimize your time commitment.

manually summing cells is time-consuming, but Google Sheets makes it easy with formulas .
You can figure the dispute between your budgeted and actual income and expenses by subtracting the cell containing the “ actual ” amount from the cell containing the “ budget ” sum .

You can besides vertically sum all of your income and expense categories by using the SUM rule.

Step 5: Input your budget numbers.

Creating a budget is nothing more than setting fiscal goals. Your income puts a hard specify on your allowable expenses. however, within the parameters of your income, you can decide how to spend your money .
Your historical fiscal datum is a big jumping-off bespeak for creating your budget. Look through the last few months of bank records to see where your money is actually going .
As your choose budget menstruation progresses, be certain to regularly update your budget spreadsheet with all of your actual transactions. This direction you can track your progress .
You may need to adjust your budget to account for emergency spend or unintentional income. Budgeting is about making yourself aware of the money coming in and going out of your life sentence .
Don ’ triiodothyronine concern if your budgeted and actual income and expenses vary. The more you use your budget, the more accurate it will be .

Creating a budget from scratch doesn ’ deoxythymidine monophosphate have to be unmanageable. You don ’ t need a complicate spreadsheet with promote formulas in order to conduct a exhaustive fiscal check-in .

Creating a budget from scratch doesn ’ triiodothyronine have to be difficult. You don ’ t need a complicate spreadsheet with advance formulas in order to conduct a thorough fiscal check-in .
however, if you ’ re comfortable with spreadsheets, you may wish to build in extra features to make your budget spreadsheet more informative and visually appealing .

Conditional Formatting

conditional format is a capital room to compare your budgeted vs. actual expenses visually .

  1. Right-click on the cell you want to format and choose “Conditional Formatting.”
  2. Set the condition.
  3. Choose what happens with the condition is met.


now, alternatively of analyzing your budget numbers individually, you can easily see which categories are over or under budget at a glance.

Charts and Graphs

You can besides add charts and graph to show trends in your spend .

  1. In the menu bar, choose “Insert” and “Chart.”
  2. A sidebar will appear on the right of your screen. It allows you to customize:
    1. The data in your chart
    2. The type of chart or graph
    3. Various characteristics of the chart or graph

Leverage Formulas

Utilize necessity Google Sheets formulas, such as GOOGLEFINANCE, PMT, and SUMIFS, to track more specific aspects of your finances, such as investments and debt .
If you ’ re interested in budgeting in a Google Spreadsheet, consider signing up for a free trial of Tiller Money. only Tiller Money mechanically updates Google Sheets with your casual outgo, report balances, and transactions so you can track everything in one identify with the greatest control .

source : https://www.peterswar.net
Category : Finance

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