small business spreadsheet for income and expenses google sheets

You only have to enter the planned amount into the template once, and you can set the template to automatically calculate the difference. Start with the planned amount, then list the actual amount you spend, and finally the difference between the two. Start out with four umbrella sections in your budget: income, savings, expenses, and long-term goal progress.įor the income, savings, and expenses sections, include three columns beside each line item. It’s one of the reasons why Dave Ramsey’s Baby Steps are so effective for the average person - they’re simple and easy to understand.

Most importantly, budgets should start simple and only add complexity as needed. So don’t just skip to the end to download the template. Before you do, though, it’s important you understand why I organized my template the way I did because I take a different approach than many personal finance experts. You can create a budget in Google Sheets from scratch, or you can use the template we provide below. But in my experience, this method creates simple clarity by letting you an view all of your monthly expenses and income on one page. If you give it a committed try and just don’t like the results, you can always try alternative budgeting tactics. No one says you have to create a traditional budget with a spreadsheet. In other words, don’t stress about writing your own budget. It’s not rocket science, and the only math required is at a second-grade level. Creating a Budget in Google Sheetsīudgeting doesn’t have to take much time, either upfront or on a monthly basis. But you get the idea: If you want to build wealth, you need a written b udget and financial plan. Schwab goes on to list many more financial disparities between those who plan their budget and financial future and those who don’t. And 56% of planners feel “very confident” about reaching their financial goals, versus 17% of nonplanners. Fully 74% of planners automate a portion of their income to go to savings each month, compared with 25% of nonplanners. Among planners, 68% keep an emergency fund, compared to 26% of nonplanners.

A worrying 38% of “nonplanners” can say the same. Of the “planners,” 78% say they pay their bills on time and save money each month. Those who have a written plan are in vastly better financial shape than their planless peers. Only 28% of Americans have a written financial plan, according to Charles Schwab’s 2019 Modern Wealth Index study.

Small business spreadsheet for income and expenses google sheets