12+ Budget Templates in Google Docs
It’s important that both people and businesses are aware of their financial situation. That way, they can determine if they will be able to meet certain financial goals as well as figure out the means to reach them. So what they’ll need is something that can help them keep track of how much they’re earning and spending, as well as what they can do to reach these goals faster.
The one thing that they can do is to identify their budget. This article will teach you all that there is to know in regards to how you can create your own budget document and how you can budget effectively.
Elements of a Budget
1. Income/Revenue: You’ll have to know just how much money your or your business make within a certain period of time. It’s important to take note of all the different types of income that you receive on both a regular and irregular basis. For example, your household budget includes regular income that you receive from your monthly salary and irregular income that comes from the payment of your freelance jobs.
2. Expenses: If income is the amount of money that you make, then expenses would be the amount of money that you normally lose. It’s important that you know just what it is that you have to spend on so that you can manage your money wisely. If you’re looking into your business expenses, then you’ll have to look into production costs and everything else that will keep the business afloat.
3. Debts: It’s always best that you stay on top of all the debt that needs to be paid. Don’t forget any forms of interest charge that may be included. Be sure to know how much interest has to be paid as you’ll be including that into your year-end projections.
4. Cash Flow Projection: You should always take note on when certain expenses have to be paid or when your money comes in. Doing so will help ensure that you stay on schedule with payments and so that you can adjust you’ll know when to adjust whenever it’s necessary.
5. Projections: In the long run, you’ll need to have a good idea of just how much you could possibly spend and earn. For example, your project budget should have a record of any monthly expenses that you incur, giving you an estimate on the average that you’ll be spending on a monthly basis. Again, this will help you better prepare for the future as you’ll know exactly how much you’ll need to continue running your business or to maintain your current lifestyle.
10+ Samples of a Budget in Google Docs
Yearly Budget Plan Template
School Budget Template
Non Profit Budget Template
Construction Project Budget Template
Monthly Budget Worksheet Template
Church Budget Worksheet Template
Small Church Budget Template
Home Construction Budget Template
Commercial Construction Budget
Simple Budget Template
Basic Project Budget Template
Simple Budget Planner Template
How to Make a Budget
1. Open Google Docs: If you’ll be making budget documents via Google Docs, then the first thing that you’ll need to do is to learn how to access Google Docs itself. What you’ll need is a Gmail account, something that you can easily obtain by registering for one via Google’s main site. If you already have it, then you simply need to do the following:
- Open your Gmail account.
- Locate the Docs icon and click it.
- Click on New.
- Choose if you want to start with a blank document or the templates that are available.
You may use the same process to create other types of documents in Google Docs.
2. Creating your budget: Next is for you to put in the information you’ll need to help you maintain your budget. Here’s what you’re going to have to do:
- Look into all of your sources of income: It’s important that you are aware as to all of the money that you make within a given period of time. This will help you understand things like how much money you should put into expenses and how much you can save at the end of each month. Remember that there’s both regular and irregular income so you’ll most likely have both. Determine which of your income is regular and irregular so that you can come up with a more accurate estimate of your total income.
- Calculate your total expenses: You’ll also have to know just how much you’ll be spending within a certain time period. Be sure to take note of all your expenses to see just how much should be deducted from your net income. Try to come up with a rough estimate of all the essential expenses first so that you can prepare on what you need to spend on.
- Get the total estimates of both income and expenses: Since there are still factors that could potentially change the amount of both income and expense, it’s best to get an estimate of both. Once you’ve figured out the potential income and expenses that you could incur, come up with budgeting decisions around them.
Tips for Making a Budget
- Always keep documents of your expenses: It’s important that you keep things like receipts or payment slips so that you can better keep track of the number of expenses that you incur within a daily, weekly, or even monthly basis.
- Make sure to have a realistic budget goal: Let’s say that you have a school budget that requires you to have a certain amount in order for certain projects to take place. It won’t help if you’re trying to aim for something that you know you won’t be able to reach. To guarantee that things go as planned, you’ll want to set a budget goal that can actually be reached.
Types of Budget
- Daily Budget
- Weekly Budget
- Monthly Budget
- Church Budget
- Company Budget
- Household Budget
If you want to learn more about the different types of budgets, then you simply need to go through our site to find the articles that can help you.
What if I go over my budget?
Then that means you’re just going to have to make a few adjustments until the amount of income is greater than that of your expenses.
What do I cut out of my budget?
Look into the expenses and see which ones you can live without. These can be any luxuries that you do not need to spend on at the moment and ones that you can cut from your current budget until further notice.
So long as you make use of the information found in this article, then you should be able to come up with an optimal budget that suits your wants and needs.