Personal Budget Template in Google Sheets

Having a Fully Functional Personal Expense Tracker That Automatically Calculates All the Numbers Is Always a Welcome Tool. That’s What You Get When You Download Any of Template.net’s Personal Budget Templates in Google Sheets. Available on All PC Devices, You’ll Find it Easy to Track All Your Household Spending and Make Adjustments. Download Our Editable Samples for Free!

License

Having a weekly or monthly household budget will help you minimize expenses. In doing so, you'll save a lot of money from your regular income. Nowadays, we need to practice budgeting our personal finance due to expensive bills and daily necessities. If you haven't done your budget planning yet, we encourage you to start it now using our printable and 100% customizable Personal Budget Templates in Google Sheets. Dividing your expenses and allocating a sufficient budget for each of them is made easy by these templates, making the task simple and fast to finish. Start managing your finances by downloading these budget templates now!

How to Create a Personal Budget in Google Sheets

According to MyMoneyCoach.ca, budgeting allows you to spend your money in a practical manner, ensuring that you'll have enough to pay each of your necessary expenses, with some to save afterward. So if you're saving up for something or simply trying to make ends meet, read our simple guide below on how to create a personal budget.

1. Determine Your Average Regular Income 

Your monthly salary or income may vary from time to time, depending on the hours you incurred at your work. So to have a clear total for your budget, simply calculate the average or approximate income you receive on a regular basis.  

2. List Down Your Expenses

Identify all your weekly or monthly expenses and list them down in your budget sheet. It could be your house bills, rent, grocery items, etc. It would be convenient for you to categorize them as well.  

3. Regulate As Much As Possible 

After listing down all of your expenses, it's time for you to commence allocating budget to each of them. But for practicality reasons, make sure to regulate the amount you allocate for each expense.      

4. Allocate Budget for Contingencies 

Throughout the week or month, there might be some impromptu expenses that you need to cover. So as a form of contingency plan, make sure to allocate budget for possible emergency expenses as well.       

5. Include Savings          

We know for a fact that you're trying to build up your financial situation for the future. With that in mind, we strongly advise you to include a savings portion of your budget plan.          

Frequently Asked Questions

What Should I Include In a Personal Budget?

The following are the expenses you must include in your personal budget:

1. Daily expenses
2. Monthly expenses
3. Rent
4. Utilities and bills
5. Debt payments
6. Savings

What Are the Benefits of Personal Budgeting?

These are the amazing benefits you'll reap if you budget your finances:

1. You'll have full control of your money.
2. Helps you keep track of your financial status. 
3. You can anticipate your expenses. 
4. You can pay your debts and bills on time. 
5. You can save up.
6. You can invest in other endeavors. 

What Is a Personal Budget?

A personal budget is a type of financial plan that equitably allocates money for each expense from an individual's financial income.

What Is the Distinction of a Business Budget and a Personal Budget?

A financial plan that details the breakdown of expenses of a business is what you call a business budget. On the other hand, a personal budget, as its name suggests, is a financial plan for the personal or household expenses and savings of an individual or family. However, a business budget and a personal budget have the same essence. They both minimize money incurred for expenses and maximize savings, or for the case of businesses, maximize profit and revenue.  

What's the Difference Between Budget and Budgeting?

Budgeting is what you call the process of planning one's finances. The finished product of that financial planning is what you call a budget. In other words, budgeting is the action to which you formulate a budget.