How to Use Google Sheets for Budgeting
Yes, you are reading it absolutely correctly. You can use google sheets for budgeting. And no, it is not tough or too technical If you know the basics of how to use google sheets, it will take no time in creating your monthly or yearly budget. And do I have to remind you how important is it to keep a budget? At the end of each month, you might be facing a tight situation or be actually broke and owe money to others. Now, if you want to get rid of such a situation at the end of every month forever, learn to use google sheets for budgeting right here, right now.
How to Create a Budget in Real-Time
Use Google Sheets for Budgeting: 4 Steps
Step-1 Get the App: Hey friends, do you want to keep a track of your money with the help of google sheets? Then firstly, get the google sheets application. You can download it on your android device via the play store and get going.
- You might have a question regarding the efficiency of google sheets on mobile. But not to worry, you can use google sheets on any mobile device with just the same accuracy as a desktop.
Step-2 The '+' Icon: Now that you have the application of google sheets, open it. You might see a list of all your past spreadsheets if you've used sheets before.
- But hey, we're starting a new fresh sheet for making our budget.
- So, for that, do you see the plus icon at the bottom-right corner.
- That will take you ahead to use google sheets for budgeting.
Step-3 Choose Template: From here, things are quite self-explanatory. By clicking on the plus sign, you see options for creating a new spreadsheet and choosing a template.
- We do not want the hassle of creating a spreadsheet from the scratch.
- Thank God, you can make google sheets templates that are there for the rescue.
- So, we would use a template. You know what to do for choosing a template, the 'choose template' option!
Step-4 Budget Template: By clicking on the template option, amazing, ready-made templates pour in front of you. There are various templates, each for a different purpose.
- For instance, a to-do list for being at the top of your tasks every day, a travel planner for the adventurous soul inside you, and many more.
- But hey, remember our task and don't get overwhelmed by the pretty templates.
- Look for the annual budget template. You will find it under the personal category.
- If you have to make a budget for your small business or company, look for the template of the annual business budget.
- It will be more detailed with more technical and professional options.
Let me take you through some tips for using the annual budget template for personal use. It has four tabs majorly. They are set up, income, expenditure, and summary. In the setup tab, you should insert your starting balance or opening balance. This means the amount of money you already have on hand before beginning the month, year, or any time period for which you're making a budget.
- Next are the tabs for expenses and income. It is quite obvious that our income comes from specific sources. But our expenditure can go into many areas.
- For example, you get your salary and interest on savings every month as income. But your expenses will go into house rent, sustenance, medical health, education, loan interest, and so on.
- So, firstly, think about all the areas of income and expenses.
- Google Sheet budget template has varied categories specified. Keep the ones that are useful and delete the ones that are not.
- Add rows and columns in google sheets budget template as required.
- Once, the row and columns are specified and categories finalized, add the amounts as and when those income or expenses occur.
Like this, you would not miss on entering anything and will be on top of your money management. No broke days now with the use of google sheets for budgeting.