How to Make a Budget Sheet in Google Sheets
Budgeting can be seen everywhere with anyone. It can be a typical student who set his/her monetary and living budget for a week. A mother in any household who has prepared the family budget. A financial manager who maintains the flow of finances and lists of expenditures in a business. A proposing business partner who presented their budget proposal for a specific project. Even you who plans to have a guide with personal finance. Entering into any venture without a budget is near to going broke. And if you wish not to be broke at all, then make your own budget sheet now.
Starting a budget is fun to make, as long as you followed all the steps in setting it. However, maintaining its flow is crucial if no plan is being followed. Creating budget sheets can be done in any way you like, freely try it in Google Sheets. Google sheets can be used in manipulating your data, it has cells that you can utilize for your budgeting plans.
Coming up with an effective budget demands you to be keen in any phase. You have to ensure that your budget is manageable and the resources you have fit to your goal and can be catered by your budget. You weigh your needs to your sources. Managing and handling a budget needs commitment, and if you have that within you, then you are surely capable of having it.
1. Know your Purpose
Before you even start creating your budget, set a specific goal of having it. Why are you setting this budget? For what expenses are you using this amount? If you know your purpose, it would now be easy for you to set aside the needed resources for your project in a specific period of time.
2. Determine your Needs
What are your needed resources and what corresponding amount will you spend for it? This is necessary if you are setting a budget, may it be a weekly budget, yearly budget, marketing budget, and sales budget. You ensure that you have created a comprehensive budget sheet for you to avoid confusions along the process.
3. Categorize your Spending
Along the budget process, you have to track on where your money is up to. List your expenses for you to possibly make adjustments if needed. First, do note of your fixed expenses. Knowing these amounts will help especially in cutting back some of the variable expenses that you may cut back if demands to.
4. Apply Adjustments
This can be done but is not necessary. If needed, adjustments are required maybe because of unexpected fallbacks. This is to help balance the budget without taking any bit of fixed expenses. Take note that when you set your budget, it must be followed and if circumstances will interrupt the flow, that's the time you make adjustments.
5. Review Your Budget Flow
To check if your budget is still working as you perceived it to be, review it. Based on your liking, you can do it weekly or even monthly.
Proper handling of budget helps you and your business to be resilient in any unforeseen happenings. You need to be hands-on in managing it. If you properly do so, you will never be anywhere to be found.