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Google Sheets Budget Template (2024 Update)

May 8, 2024

Google Sheets Budget Template

Using a budget template in Google Sheets is important in precisely tracking and managing income and expenses. Get a copy of our simple budget template in Google Sheets here.  

google sheets budget template

Select File > Make a copy.

How to Use Google Sheets Budget Template

Follow the steps below to create a Google Sheets budget template. 

1. Name Your Budget Spreadsheet and List Income and Expense Categories

Click on "Untitled spreadsheet" at the top. Type in "Monthly Budget" or any name you prefer and hit Enter. In the first column (A), list your budget categories. Start with "Income" at the top, then add expense categories such as "Rent," "Utilities," "Groceries," etc., beneath it.

2. Create Columns for Dates and Amounts Next to Categories

Next to your categories in Column B, add a column for dates, and in Column C, a column for amounts. Label them "Date" and "Amount" respectively at the top.

3. Enter Estimated Budget Amounts Under Each Category

Under each category in the Amount column (C), enter the budgeted amounts for the month. Leave the Date column (B) empty for now; it's for recording actual expense dates. As expenses occur, record the date of each expense in the Date column next to the relevant category. Enter the actual amount spent in the Amount column.

4. Use SUM Function to Calculate Total Budgeted and Actual Expenses

At the bottom of the Amount column, use the SUM function to calculate total budgeted and actual expenses. Click on the cell where you want the total, type "=SUM(", select the cells with the amounts, and press Enter.

5. Subtract Actual Expenses from Budgeted Amounts to Find Variances

In a new column, compare your budgeted amounts to your actual expenses. This can be done by subtracting the actual expense from the budgeted amount for each category.

6. Review and Adjust Budget or Spending Based on Variances

Review your budget at the month's end. If actual spending exceeds budgeted amounts in certain categories, consider adjusting either your budget or spending habits.

7. Duplicate Sheet for Next Month and Update Budget as Needed

For subsequent months, you can create a new sheet within the same spreadsheet or duplicate the current sheet and update with new budgeted amounts. This practice helps track your budget over time.

21 Budget Templates in Google Sheets

Here are more free budget templates that you can use depending on your preferences.

1. Monthly Budget Calendar by Tiller 

A Google Sheets tool for tracking daily spending and monthly budgeting. It helps you keep an eye on your monthly expenditure limit and aggregate spending​.

2. Aspire Budget Template 

Offers a balance sheet and monthly budget tracker, accessible anywhere with Google Sheets app.

3. Addi Ganley Monthly Budget Template 

Designed for monthly income and expense tracking to help you understand where your money goes​.

4. Ben Collin's DIY Budget 

Offers techniques for building budget templates in Google Sheets, including tips for financial formulas.

5. Budget and Transaction Tracking Template 

A comprehensive template for creating and customizing your budget​.

6. Zero-Based Budget Template from SmartSheet 

Ensures the difference between your income and expenses equals zero each month.

7. Wedding Budget Template from Bridal Musings 

In-depth template for tracking various wedding expenses, including ceremonies, reception, and photography.

8. Home Renovation Budget by Smartsheet 

Tracks remodeling costs against your budget, updating the remaining balance with each transaction​.

9. Debt Reduction Calculator by Vertex42

Utilizes the "Debt Snowball Method" for prioritizing and paying off debts​.

10. Financial Diet’s Budget Template 

Simplifies money management and saving goals​.

11. Calendar Budget Template by Smartsheet  

Ideal for businesses to track finances yearly, with a breakdown of expenses and income​.

12. Annual Budget Template by Smartsheet 

Covers all major spending categories for a broad financial overview​​.

13 Simple Monthly Budget Template by Smartsheet 

A straightforward tracker for monthly expenses, making budget management easier​.

14. College Student Budget by Smartsheet 

Tailored for semester-based income and expense planning for students​.

15. Complete Budget & Receipt Tracker  

Includes a Google form for on-the-go transaction recording and categorization​​.

16. Expense Budget Report by Smartsheet 

Ideal for tracking business trip expenses, customizable for various needs​.

17. Family Budget Planner by Vertex42 

Allows for detailed monthly income and expense entries for family finances​.

18. Google’s Annual Budget Template

For tracking and planning monthly spending throughout the year​.

19. Google Monthly Budget

A customizable income and expense dashboard for monthly financial tracking​​.

20. Simple Quarterly Budget Template  

Designed for tracking quarterly purchases, available in Google Sheets and Excel​ .

21. Detailed Quarterly Budget Template 

A more comprehensive version for quarterly expense management, available in Google Sheets and Excel​​.

We hope that you now have a better understanding of how to create a Google Sheets budget template and use our free Google Sheets budget template. If you enjoyed this article, you might also like our article on how to insert infinity symbols in Google Sheets or our article on setting up Google Sheets invoice template.

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