Sample google sheets personal budget how to#

Of course, if you have any other accounts like investments, add a section to the sheet and keep track of it all. We’ve color-coded the spreadsheets in this piece to help each of these sections stand out.Įvery month, keep track of your income by documenting each paycheck in that column, every individual purchase you make in the expenses area and any contributions you make to your savings account in that column. All you need to do is divide the sheet into four sections - income, expenses, savings and total - and fill in the blanks. It’s simple and keeps everything together in three simple categories: income, expenses and savings. If you’re someone who doesn’t want budgeting to feel like a chore, this spreadsheet is for you. Let’s look at three sample budgeting templates that are easy to make in Google Sheets. Now that you know how much your take-home pay is and how you’ll be breaking down your monthly finances, you can begin making a spreadsheet in Google Sheets to track your progress. You’ll be more likely to pay it every month, which allows you to save more every year, helping you reach more of your financial goals. Tip: Consider “paying yourself first,” AKA the money you put into your savings, a monthly bill. This type of budget allows for flexibility, like paying more for your living expenses. After that, 20 percent goes toward your savings, and 20 percent is left for you to use for whatever your heart desires. Sixty percent of your take-home pay should be used for life’s necessities - rent, groceries, car insurance, utility bills, student loans, etc. This breakdown helps guide you in your monthly budget. In a percentage-based budget, there are three numbers you need to know: 60, 20 and 20.

Sample google sheets personal budget how to#

We’ll use the above examples as the monthly income to show how to create a budget spreadsheet in Google Sheets, but if you don’t have a pay stub handy and want to calculate your own take-home pay, there are salary paycheck calculators out there that can crunch the numbers for you. For instance, you might write freelance articles for a website, earning $200 per month. If you have a side hustle, be sure to calculate in any earnings from that as well. This leaves you with a take-home pay amount of about $1,460 every other week. You contribute 5 percent of your pre-tax income per paycheck to your 401(k), pay $150 per paycheck for medical, dental and vision insurance, and also pay the standard state and federal taxes.

Look at your paystubs to understand your take-home pay and the amounts you’re contributing to insurance, retirement and taxes.įor example, let’s say you make an annual salary of $60,000, receiving 26 paychecks per year and live in New York.

Take inventory of your financial situation.įirst things first. Here’s how to create a budget spreadsheet using Google Sheets. So it’s time to take control of your finances and finally start budgeting like a boss. If you’re not careful with the number of lattes you sip and bagels you buy, you can rack up debt and spend beyond your means. Spending money is often easier than saving it.