This is especially helpful if you’re trying to reduce your expenses in a specific area of your finances. If you find that specificity helps you maintain better control of your finances, you may want to add subcategories to more closely track certain expenses. However, you want enough categories to encompass all your income and expenses without creating unnecessary complexity. There isn’t a “right” number of categories. Step 2: Create Income and Expense CategoriesĬategories are the backbone of a budget. On the left sidebar, click “New” and “Google Sheet.” Bonus: How to Automatically Update your Google Sheet BudgetĪ simple, step-by-step guide to creating a budget in Google Sheets Step 1: Open a Google Sheet.Step 4: Use simple formulas to minimize your time commitment.Step 3: Decide What Budget Period to Use.Step 2: Create Income and Expense Categories.A simple, step-by-step guide to creating a budget in Google Sheets.Read: “Budgeting With Google Sheets: Incredibly Effective Tips →.Later, when you’re ready, you can easily upgrade to a free Google spreadsheet budget powered by Tiller Money. And by building your own budget, you’ll learn more about your money and how you think about it. You can create your own free Google Sheet budget template in less than an hour. There are dozens of tools for making a budget, tracking bank accounts, and create savings goals.īut before you invest in complicated money management tools, it might be better to simply make a budget in Google Sheets.
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