Make your spreadsheet easy to read by adjusting column widths, adding colors, and using bold or italics for headings.Ī well-formatted spreadsheet is easier to understand and work with. This will automatically update your totals when you add new data. You can use ‘=SUM(B2:B10)’ to add up all income, and similar formulas for expenses and savings. Use simple addition and subtraction formulas to calculate total income, expenses, and savings.įormulas are what make spreadsheets powerful. It’s a good idea to include emergency funds, vacation funds, or savings for big purchases here. This section will help you set financial goals and track your progress towards them. Savings are a critical part of any budget.
Step 5: Create a Savings SectionĪdd a section for savings with columns for ‘Savings Goals’, ‘Projected Savings’, and ‘Actual Savings’. ‘Projected Expenses’ is an estimate of what you think you’ll spend, and ‘Actual Expenses’ is what you end up spending. Similar to the income section, you’ll list all your expected expenses under ‘Expense Category’. Label additional columns for ‘Expense Category’, ‘Projected Expenses’, and ‘Actual Expenses’. The ‘Projected’ column is what you expect to earn, and ‘Actual’ is what you actually receive. You can list your salary, side hustles, or any other income sources. This section is crucial because it tracks all the money coming in. Step 3: Set Up Your Income SectionĬreate a section for income by labeling columns for ‘Income Source’, ‘Projected Income’, and ‘Actual Income’. It can be as simple as ‘Monthly Budget’ or something more specific like ‘2021 Financial Goals’. Naming your spreadsheet is important for organization, especially if you’ll be creating multiple budgets. Step 2: Name Your SpreadsheetĬlick on ‘Untitled spreadsheet’ at the top of the page and give your budget a name. Click on it, and a new, untitled spreadsheet will open. When you open Google Sheets, you’ll see a green “+” sign that says ‘Blank’. Open Google Sheets and click on the ‘+’ button to create a new spreadsheet. Step 1: Open Google Sheets and Create a New Spreadsheet It’s a visual representation of your money, and by the end of these steps, you’ll have a clear picture of your financial health. A budget spreadsheet will help you organize your finances by tracking your income, expenses, and savings. See our articles How to Make a Budget and 5 Basic Budgeting Tips if you are just getting started or new to budgeting.5 Conclusion Step by Step Tutorial: Creating a Budget Spreadsheet in Google Sheetsīefore we start entering numbers and formulas, let’s understand what we’re aiming for. The help worksheet is much more detailed now.
Percentages below the category totals show you what percent of the total family budget is going to that category.
New in Version 2.0: The new graphs show your spending and savings balance over time. If you are moving or buying a home, you can analyze your budget to see where you may need to cut back to be able to afford an increase in rent or a higher mortgage.
For example, if you are changing jobs, you can use the planner to estimate whether the increase (or decrease) in pay will still allow you to make ends meet. This free family budget planner worksheet will help you create a yearly budget by entering amounts based on the month in which expenses are incurred.īy creating a yearly budget, you can more easily predict how major life changes will affect your finances.