What should a budget include?

Income, fixed expenses, variable expenses, savings and debt payments. Each category needs a planned amount and a place to record actual spending, so you can compare the two.

How do I create a budget worksheet in Google Sheets?

Open a new sheet, list your income and categories in rows, add a column for planned and a column for actual, and use a SUM or SUMIF formula to total spending by category from a transaction table. Subtract actual from planned to show what is left.

Which formulas do I need for a budget spreadsheet?

SUM to add values, SUMIF to total by category, and simple subtraction for the difference. That is enough for a working budget.

How long does it take to build a budget spreadsheet?

A basic one takes about an hour. A full yearly workbook with a dashboard and charts takes much longer, which is why many people start from a ready-made template.

How to Make a Budget Spreadsheet in Excel or Google Sheets

By Money editorial team · Updated October 26, 2026

To make a budget spreadsheet, list your income, list your expenses by category, set a planned amount for each, add a log where you record real purchases, and use a SUMIF formula to compare them. You can do this in Excel or Google Sheets in about an hour. The steps below build a simple version that works.

Step 1: Decide what you want it to tell you

Pick the question first. "Where does my money go?" needs a transaction log. "Am I on track?" needs planned versus actual. "Can I afford X by December?" needs a yearly view. A basic build covers the first two.

Step 2: Set up two areas on one sheet

Create a summary area at the top (or a separate tab) and a transaction log below (or on its own tab).

Summary columns:

Category	Planned	Actual	Left
Rent	1,200
Groceries	450
Transportation	150

Log columns:

Date	Description	Category	Amount

The numbers above are examples. Use your own.

Step 3: List income and fixed bills

Start at the top with your take-home pay. Then list the bills that stay about the same each month: housing, utilities, insurance, loan payments and subscriptions. Your bank statements for the last two or three months will tell you the real amounts.

Budget spreadsheet annual plan listing income and fixed bills by month

Step 4: Add variable categories

These change every month: groceries, gas, dining out, entertainment, personal care, clothing, household items. Start with ten to fifteen. You can split a category later if it hides too much.

Include these often-forgotten ones:

gifts and holidays
car maintenance
medical co-pays
a "miscellaneous" line, capped at a small amount

Step 5: Add the formulas

In Google Sheets or Excel, the Actual cell for each category adds up the matching rows of the log:

``` =SUMIF(Log!C:C, A2, Log!D:D) ```

This means: look in column C of the Log for the category in A2, and add the matching amounts from column D. The Left cell is simply:

``` =B2 - C2 ```

Then add a total row with `=SUM(...)` for each column. Format the Left column so negative numbers show in red.

For the category column in the log, use data validation (Data > Data validation in Sheets, or Data > Data Validation in Excel) to create a dropdown from your category list. That prevents typos that would break the SUMIF.

Step 6: Test it with sample data

Enter five fake transactions and check the totals. If a category's Actual does not change, the category name in the log probably does not match exactly. Delete the test rows afterward.

Step 7: Start logging, then adjust

Enter real transactions weekly. After the first month, compare Planned to Actual and revise the plan. Do not try to get the numbers perfect on day one.

Monthly tab with a transaction log and planned versus actual budget

What a basic spreadsheet cannot do (yet)

The sheet above works for one month. If you want more, you add pieces:

Twelve months in one file: duplicate the sheet 11 times and link them to a summary.
A yearly overview with charts: add a dashboard that pulls monthly totals.
Bills calendar: a separate tab with due dates and paid checkboxes.
Debt payoff: a schedule that subtracts payments and interest.
Net worth: assets minus liabilities, updated monthly.

Each one is doable, and each adds time and chances for formula errors. If you want to see how these pieces look when combined, the sample budget spreadsheet page walks through a finished one.

Common errors when building your own

Category names do not match. "Grocery" versus "Groceries" breaks SUMIF.
Ranges too short. If your formula covers rows 1 to 100 and the log grows past 100, new rows are ignored. Use whole-column references or leave extra room.
Formulas typed over. Protect formula cells or keep inputs in a clearly different color.
Mixed signs. Decide whether spending is positive or negative and be consistent.
No backup. Keep a copy of the blank file.

Ready-made option

If you would rather start with the structure built, Clear Budget Planner has the Annual Plan, twelve monthly tabs, Dashboard, Year Summary, Bill Tracker, Savings Goals, Debt Payoff and Net Worth tabs already connected, with up to 150 transactions per month. You get a blank workbook, a filled-in example and a Getting Started guide for opening it in Google Sheets or Excel. It is a one-time purchase.

Build habits around it

A spreadsheet only works if you open it. Pick a weekly time, keep the log short, and review it once a month. For the habit side, read how to track spending. If you are new to budgeting altogether, start with budgeting for beginners, then return here. For a broader view of spreadsheet options, see the budget spreadsheet guide.