In the Guilt-Free Budget box, enter categories of expenses and an allotted amount. This is your money to spend however you want. Create your guilt-free, monthly budgetĪs explained earlier, it’s called your guilt-free budget because this is what is left over after setting money aside for savings, retiremenet, and future annual expenses. Now you’re left with your total for guilt-free budget, which is how much you have left for discretionary spending. “The goal is to make sure that enough income is first saved or invested before monthly expenses or discretionary purchases are made.” This is the pay yourself first concept described in “I Will Teach You to Be Rich.” Along with budgeting for annual expenses and retirement, I highly recommend setting more money aside for extra savings. There are suggestions in the note on the budget category* cell. There is room for eight additional fixed monthly costs. If you don’t contribute to a 401k or typically receive any extra monthly income, enter $0. Follow the orange colored cells as cues for which part to fill out next. In the top left box on the Config tab, enter your income. Remember, cells with an asterisk(*) mean there is a note on that cell with more information. How to Use My Google Sheets Budget Template If you’re stuck and need more info to get going, read on to get the details. There are simple and clear instructions with extra notes on cells that have an asterisk(*) - just hover over those cells to the see note. If you want to try my Google Sheets budget template, make a copy of it and try it out. A good budget system will create a change in your behavior. On less of things I care little about, and more on the things I care a lot about.Ī bad budget system only shows you where your money is going. I can customize it exactly the way I need to actually help me spend my money more thoughtfully. But these apps don’t really help me spend less money - they just tell me where I spend my money and try to guess (poorly) the category.Īnd that’s why I love budgets built on spreadsheets. Most of my friends use a budgeting app like Mint and I’ve tried them, too. Making a spreadsheet budget in Google Sheets or Excel is easy, but it’s faster to start with a free template.After budgeting money for savings and annual expenses, you can budget your discretionary spending, guilt-free. Easy sharing and real-time collaboration.Complete control of your budget categories.Google Sheets and Microsoft Excel both offer: Spreadsheets are the most popular tool for making a budget If you notice that you’re spending too much on dining out, you can reduce that expense and allocate more money towards your savings. You can also analyze your spending patterns and make adjustments accordingly. The template will help you track your expenses and ensure that you stay on track with your savings goal. By using a monthly budget, you can allocate a specific amount of money each month toward your travel fund. And budget templates allow you to set financial goals and track your progress towards them.įor example, let’s say you want to save for a vacation. You can easily identify areas where you can cut costs and save money. Because they provide a structured framework for organizing your income and expenses, monthly budget templates are essential tools for managing your money.īy creating a monthly budget, you gain control over your money and can make informed financial decisions.
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