If you have a Gmail account, youre sitting on a budgeting tool you may not even know about.
And its totally free.
Google Sheets, Googles spreadsheet app, is a great platform for budgeting.
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you’re free to create pretty graphs to better visualize where your moneys going.
And the good news?
You dont have to be a spreadsheets whiz to learn how to make a budget in Google Sheets.
Why Budget With Google Sheets?
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The convenience of it is one thing.
If youre one of the millions of Gmail users, you already have access to Google Sheets for free.
You dont have to go out and purchase budgeting software or a fancy budget binder.
Being Penny Hoarders, we know you love stuff thats free.
The flexibility to manage your finances how you want to is another big advantage.
You arent limited by whats already programmed onto a budgeting app.
You basically have a blank slate with Google Sheets.
You may want to record your debt payoff journey or keep tabs on progress toward a big savings goal.
If youre new to spreadsheets, Collins recommends to start simply and enhance your Google Sheets budget over time.
Start with just one problem you’ve got the option to solve.
If the monthly budget template isnt displayed, choose template gallery to view the other template options.
While you dont have to use one, Collins said budgeting templates are worth checking out.
When you dont know where to start, staring at a black sheet can feel rather intimidating.
Google Sheets also has an annual budget template where you might track your expenses and income throughout the year.
Our article onfree budget spreadsheetshas some options you could work with.
Like with Googles spreadsheets templates, the creators of these templates have already done the work for you.
All you’re gonna wanna do is plug in your information.
Another option is to download budget templates fromTiller Money, which Collins uses and recommends.
Tiller Moneys main budgeting template is called the foundation template.
We also have a free add-on for Google Sheets calledTiller Money Labs, Shepard said.
[This includes] like 30 different templates and tools for all sorts of really niche tracking.
To make your life easier, take advantage of basic Google Sheets functions, such as SUM and AVERAGE.
Use the SUM function when you want to add up multiple amounts.
Creating drop-down menusfor budget categories is a useful thing to know when creating your own spreadsheet.
Sometimes seeing things visually can make a bigger impact on how you view your financial decisions, Collins said.
Bar graphs, line graphs and pie charts are popular data visualization tools.
Use the chart editor to change the chart bang out, alter the color palette or make other customizations.
Nicole Dow is a senior writer at The Penny Hoarder.
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