personal finance budget google sheets template

You can compare your planned and actual benefits by category. Monthly budget – Log individual income and spending transactions.These are the two default Google Sheets budgeting templates: However, you must be willing to input each transaction manually to have correct figures. These barebones templates can help improve your spending habits without breaking the bank. This template has a tab for one person or two persons to compare each person’s income to their needs, wants and savings.ĭid you know that Google Sheets offers two premade templates? Both are free and similar to the Microsoft Excel budget templates you may already use. The 50/30/20 budgeting strategy can be easier to achieve if you live in a two-income household. Thankfully, there are simple ways to save money when you don’t have free time to pursue a side hustle. Separating your necessary monthly expenses (needs) from your wants can be challenging at first. The remaining 20% for savings and extra debt payments should include saving for retirement and boosting your emergency fund. Your “wants” might consist of streaming plans and date nights. The 50/30/20 rule divides your cash into one of three categories:Įxamples of your “needs” include your minimum monthly loan payments, insurance and living expenses. You’re also more likely to be able to afford a one-time financial surprise or temporary pay cut without going into debt. Only spending half of your income on needs means you’re not living paycheck to paycheck. The “50/30/20 rule” encourages you to only spend half of your monthly income on necessary expenses. Most budgeting templates are a zero-sum budget where you assign a budget category for each dollar you earn. You can modify the income and expense categories to fit your personal spending plan.Ĭheck out our Free Budget and Financial Planning Printables as well. Expenses – Groceries, giving, “His” and “Her” spending, vehicle and gas, etc.Housing expenses – Mortgage/rent, utilities, internet, insurance, etc.Income – You and your spouse’s (if applicable) monthly salary.The Starter Budget takes a monthly look at these categories: You can open the Starter Budget in Microsoft Excel or Google Sheets. Using Well Kept Wallet’s own Starter Budget is free and saves you time. The digital alternative is manually logging each transaction into your spreadsheet.īuilding your own template can be effective, but it’s easy to overlook certain expenses. The simplest budget is writing your income and expenses on a piece of paper. These complex budgeting templates are “too smart.”

With that in mind, we strongly advise you to include a savings portion of your budget plan.You may only need a basic budget template that lets you quickly compare your income and monthly expenses.Īdvanced spreadsheets may require too much effort to update or can be confusing to navigate. We know for a fact that you're trying to build up your financial situation for the future. So as a form of contingency plan, make sure to allocate budget for possible emergency expenses as well. Throughout the week or month, there might be some impromptu expenses that you need to cover. But for practicality reasons, make sure to regulate the amount you allocate for each expense. Regulate As Much As PossibleĪfter listing down all of your expenses, it's time for you to commence allocating budget to each of them. It would be convenient for you to categorize them as well. It could be your house bills, rent, grocery items, etc. Identify all your weekly or monthly expenses and list them down in your budget sheet.

So to have a clear total for your budget, simply calculate the average or approximate income you receive on a regular basis. Your monthly salary or income may vary from time to time, depending on the hours you incurred at your work. So if you're saving up for something or simply trying to make ends meet, read our simple guide below on how to create a personal budget.

Start managing your finances by downloading these budget templates now! How to Create a Personal Budget in Google SheetsĪccording to MyMone圜oach.ca, budgeting allows you to spend your money in a practical manner, ensuring that you'll have enough to pay each of your necessary expenses, with some to save afterward. Dividing your expenses and allocating a sufficient budget for each of them is made easy by these templates, making the task simple and fast to finish. If you haven't done your budget planning yet, we encourage you to start it now using our printable and 100% customizable Personal Budget Templates in Google Sheets. Nowadays, we need to practice budgeting our personal finance due to expensive bills and daily necessities. In doing so, you'll save a lot of money from your regular income. Having a weekly or monthly household budget will help you minimize expenses.

Personal finance budget google sheets template