Create Your Own Monthly & Annual Budget Template - Part 1 of 2: Monthly Tab Setup, by DBD Digital Studio on YouTube. 36 min 15 s.
- Video length
- 36 min 15 s
- Time to do it
- 45 minutes
- Difficulty
- Medium
- Steps
- 10
What you need
Steps
Open Google Sheets and create a blank spreadsheet. Name it something like Budget Template so you can find it later.
Add a tab called Setup. List your income categories and expense categories in two separate columns, one item per row.
Format the Setup tab with bold headers, a fill colour for each column and borders around the lists. Keep the colours consistent so the rest of the sheet matches.
Create a Monthly tab and build a summary block at the top. Add rows for total income, total expenses and the difference between them.
Add checkboxes to a paid column so you can tick off each expense. Use Data then Data validation to add dropdowns that pull categories from the Setup tab.
Set up column headers such as Date, Category, Description, Amount and Paid. Add a few placeholder rows of sample data to test the layout.
Write SUMIF formulas to total each category from the Setup list. Point the formula at the category column and the amount column so totals update as you add rows.
Select your summary data and insert a chart. Choose a bar or pie chart, then move it beside the summary block and resize it to fit.
Apply conditional formatting to the difference row so a positive balance shows green and a negative balance shows red. Use Format then Conditional formatting.
Check the formulas with your sample data, widen columns so nothing is cut off and freeze the header row. Save the sheet.
Tips and common mistakes
Keep category names identical on the Setup tab and the Monthly tab, or the SUMIF totals will miss rows.
Add extra blank rows to your data range before writing formulas so new entries are included automatically.
Use absolute references with dollar signs for the Setup ranges so formulas still work when you copy them down.
Questions
Do I need Excel for this?
No. The template is built in Google Sheets, which is free with a Google account. The same steps work in Excel with small menu differences.
Where does the annual summary go?
The annual summary is covered in part 2 of the series. Finish the monthly tab first, since the annual tab pulls totals from it.
Can I reuse the template each month?
Yes. Duplicate the Monthly tab for each new month, or clear the data rows and keep the formulas and formatting in place.
This guide was drafted from the video's details and general task knowledge. It has not been checked against the full video. Check the video and relevant product instructions before following a procedure. Report a correction.
