How to Create a Budget Spreadsheet in Google Sheets: A Step-by-Step Guide

Creating a budget spreadsheet in Google Sheets can seem daunting, but it’s actually pretty straightforward. All you need is a Google account and some basic spreadsheet knowledge. Once set up, a budget spreadsheet can help you keep track of your expenses and income, set financial goals, and make smarter money decisions. Ready to get started? Let’s dive into the nitty-gritty of budget spreadsheet creation.

Step by Step Tutorial: Creating a Budget Spreadsheet in Google Sheets

Before we start entering numbers and formulas, let’s understand what we’re aiming for. A budget spreadsheet will help you organize your finances by tracking your income, expenses, and savings. It’s a visual representation of your money, and by the end of these steps, you’ll have a clear picture of your financial health.

Step 1: Open Google Sheets and Create a New Spreadsheet

Open Google Sheets and click on the ‘+’ button to create a new spreadsheet.

When you open Google Sheets, you’ll see a green “+” sign that says ‘Blank’. Click on it, and a new, untitled spreadsheet will open. This is where you’ll build your budget.

Step 2: Name Your Spreadsheet

Click on ‘Untitled spreadsheet’ at the top of the page and give your budget a name.

Naming your spreadsheet is important for organization, especially if you’ll be creating multiple budgets. It can be as simple as ‘Monthly Budget’ or something more specific like ‘2021 Financial Goals’.

Step 3: Set Up Your Income Section

Create a section for income by labeling columns for ‘Income Source’, ‘Projected Income’, and ‘Actual Income’.

This section is crucial because it tracks all the money coming in. You can list your salary, side hustles, or any other income sources. The ‘Projected’ column is what you expect to earn, and ‘Actual’ is what you actually receive.

Step 4: Set Up Your Expenses Section

Label additional columns for ‘Expense Category’, ‘Projected Expenses’, and ‘Actual Expenses’.

Similar to the income section, you’ll list all your expected expenses under ‘Expense Category’. ‘Projected Expenses’ is an estimate of what you think you’ll spend, and ‘Actual Expenses’ is what you end up spending.

Step 5: Create a Savings Section

Add a section for savings with columns for ‘Savings Goals’, ‘Projected Savings’, and ‘Actual Savings’.

Savings are a critical part of any budget. This section will help you set financial goals and track your progress towards them. It’s a good idea to include emergency funds, vacation funds, or savings for big purchases here.

Step 6: Add Formulas for Totals

Use simple addition and subtraction formulas to calculate total income, expenses, and savings.

Formulas are what make spreadsheets powerful. You can use ‘=SUM(B2:B10)’ to add up all income, and similar formulas for expenses and savings. This will automatically update your totals when you add new data.

Step 7: Format Your Spreadsheet

Make your spreadsheet easy to read by adjusting column widths, adding colors, and using bold or italics for headings.

A well-formatted spreadsheet is easier to understand and work with. Use different colors to differentiate between income, expenses, and savings. Bold your headings so they stand out.

After you’ve completed these steps, you’ll have a functioning budget spreadsheet. You can start inputting your financial data and watch as your budget takes shape. It’s a living document that you can adjust and refine as you go.

Tips for Creating a Budget Spreadsheet in Google Sheets

  • Tip 1: Keep it simple, especially if you’re new to budgeting or spreadsheets.
  • Tip 2: Regularly update your spreadsheet to reflect your actual income and expenses.
  • Tip 3: Use the ‘Comments’ feature to add notes or reminders about certain transactions.
  • Tip 4: Take advantage of Google Sheets’ built-in templates for budgeting if you’re not sure where to start.
  • Tip 5: Protect your financial data by setting privacy settings on your Google Sheet.

Frequently Asked Questions

Can I share my budget spreadsheet with someone else?

Yes, you can share your budget spreadsheet with trusted individuals by clicking the ‘Share’ button and entering their email addresses.

What if my actual income and expenses are different from the projected numbers?

That’s expected! Update your ‘Actual’ columns regularly to reflect your real financial activity. This will give you a more accurate view of your budget.

How often should I update my budget spreadsheet?

You should update your budget spreadsheet regularly, ideally every time you earn income or incur an expense.

Can I access my budget spreadsheet on my phone?

Yes, Google Sheets has a mobile app that you can use to access your budget spreadsheet on the go.

What should I do if I overspend in one category?

If you overspend, adjust your expenses in other categories to compensate, or review your spending habits to make better choices in the future.


  1. Open Google Sheets and create a new spreadsheet.
  2. Name your spreadsheet.
  3. Set up your income section.
  4. Set up your expenses section.
  5. Create a savings section.
  6. Add formulas for totals.
  7. Format your spreadsheet.


Building a budget spreadsheet in Google Sheets is a proactive step towards financial clarity and freedom. It puts you in the driver’s seat of your finances, allowing you to track your financial activity and make informed decisions. Remember, the power of a budget spreadsheet lies in its accuracy and your commitment to updating it consistently. Don’t be afraid to tweak your budget as your financial situation changes, and always aim to spend less than you earn. With time and diligence, your budget spreadsheet will become an invaluable tool in achieving your financial goals. So why wait? Get started on your budget spreadsheet in Google Sheets today and take control of your money!