You can also enter any savings you have made prior to the time you began using the budget. Savings' goal helps to set specific short or long term savings goals for various purposes, track your objectives as you create your monthly budget and display all accumulated information in simple to read graphs. Savings Goal is one of the latest additions to this template and our response to requests submitted by many users of our family budget planner. In fact, obtaining information this way will help to achieve certain budget or/and saving goals. This means that you will not have to wait for an entire year to get your budget results.
#HOUSEHOLD BUDGET TEMPLATE GOOGLE SHEETS UPDATE#
All amounts in this part of the spreadsheets are cumulative and will be updated every time you update your budget. Spending total and the results part: this is where you can see the estimated and actual spending for each category, including any differences and results for each quarter of the entire year. This makes things easier when entering the amounts that do not have monthly frequency, such as some subscriptions or utility bills you may receive quarterly or annual tax returns or simply any irregular payments. Monthly spending: I have divided an entire year into four quarters, in order to avoid possible confusion when you plan your budget. TIP: Always plan to spend less to gain more, in other words, to save more. This is usually is the first step in budgeting, since this helps to allocate amounts for the monthly spending and savings. Income part which is comprised of the fields for projected income and for the actual income. The family budget spreadsheet contains 3 main parts:
#HOUSEHOLD BUDGET TEMPLATE GOOGLE SHEETS HOW TO#
How to use a Family Budget Plannerįamily Budget Planner: it is a simple template that helps to track your budget monthly, quarterly and yearly. It is strongly advised to consult the qualified professionals regarding financial decisions. Alternatively, if the balance is growing from month to month, you are on the right track and you should probably look for good investment opportunities with the potential to increase your income further.Disclaimer - The spreadsheet and information on this page is intended for educational an illustrative purposes only. If the end balance is lower than the starting balance, you need to look for more ways to save or increase your income. Additionally, you can see the End Balance, specifically the difference between the amount in the Starting Balance and the End Balance of the actual expenses column for the month.
The Monthly Budget Total section at the top provides the difference in the overall income and the quick overview of your budget. Of course, this may not always be the case and some expenses can sometimes be unavoidable, in which case you can always look for other expenses that can be limited or eliminated. It helps to spot expenses in various categories where you might have overspent and potentially help you to prevent doing this again. Household Budget Planner lets you see the estimated and actual income and expenses side-by-side, which is very convenient, especially when you update your spreadsheet regularly.
At the end of the month, when all actual Income and Expenses are recorded, the Household Budget Planner provides a detailed summary of where you stand financially. Updating the actual income and expense section regularly as incurred throughout a month ensures the accuracy of your budget and prevents from overspending. For example, this could be your accumulated savings during previous months. The starting balance is the money that you have at the beginning of your budget before you factor in any current or future income. In this section you should also enter your starting balance, whether it is positive or a negative amount. Predefined formulas in the "Monthly Budget Total" section are responsible for summarizing your budgeted and actual income and expenses.
Categories are equipped with a row that calculates the "Total" for the group. In the income section you will need to enter your monthly income expected from each of your income sources. How to use the Household Monthly Budget Spreadsheetīegin by entering values in the Budget column of each category.
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