STEP 5: Next, select the cell where you want the “Total” to appear - we’re going to create a very simple formula that will calculate the total and does the math for you. Step 4: Add a “Total” cell at the bottom so you can see what you’ve brought in that month in full (I’m using totally random numbers here for the purpose of this post). These numbers should reflect your income after tax. Step 3: In the column over, add the numbers that correspond to each source of income. If you’re a freelancer, this section will most likely look different each month, but leave yourself enough room to add and remove items as needed. STEP 2: Create a column, label it “Income,” and list out all your sources of income. STEP 1: Open up Google, head to your Sheets page, create a new sheet, and name it. Here we go - read on for my Excel budget template! Again, this is being done through Google Sheets, so you’ll have to have a Google account to use this feature.ĭO NOT be intimated by the number of steps or photos! Seriously, I see these guides online and I’ll scroll through and think I could never understand them, but it’s really very easy once you understand how to set up basic formulas. Today, I’m going to take you through creating a budget in Excel for the purpose of tracking your monthly budget which will include: tracking your income, seeing how to track your savings goals, and tracking/organizing your expenses. Personally, I use Google Excel Sheets to manage my expenses because I’m honestly too lazy to download the software to my computer. It’s also simpler to manage and keep track of everything since it’s stored in the cloud, and I have access to it whenever wherever. However, this is simply what works best for me, and I encourage you to try out some different options for yourself. Now, a lot of people prefer using apps to manage their budgets, and there are truly a ton of them out there. We talk a lot about managing budgets here at TFD - Chelsea and I even made a video about it. Today, I’m going to go into more granular detail as to how one can actually create a monthly budget using my personal favorite method - Excel Sheets.
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