Create and Manage Bills Template Google Sheets for Teams Effortlessly

Bills template google sheets for teams

over the past few years I have explored a lot of different apps systems tools all those things and I've learned a lot about how to understand your personal finances I found something that works pretty well for me and my family it's a simple spreadsheet so I thought I'd share it with other people such as yourself to see if you will find it useful too I have in apple numbers and a Google Sheets version of this spreadsheet but for this video I'm just going to demo the Apple Numbers version if you're interested in getting this template there's a link in the description below and if you want to see how the spreadsheet Works keep watching okay so here we are in the Apple Numbers spreadsheet template here and you'll see there's a number of tabs on the top and we're going to go through each one so the first one here is your summary think of this like a bird's eye view of your finances so along the top here it gives a summary of your emergency fund your monthly Surplus your total debt total savings and your total Investments then as we scroll down we have your or income and this is broken down by net and gross and yearly and monthly and then we have your expenses and this is broken down into monthly and yearly so you can understand how that money is being used there is a category system here which I'll explain uh once we get to the expenses part which is how your expenses are categorized and they're broken down into four specific buckets and you can see the totals of that yearly and monthly across all of those things one other nice detail about this summary view is that if you notice underneath it gives you a little bit of context into how each of these numbers Stacks up against your income whether that be gross or net income for example if we go back down to expenses you can see that for the essential expenses essential monthly expenses it totals to almost 50 percent of the net monthly income and about 40 percent of the gross monthly income and the reason this is useful is because you you're able to see how much of your money is essentially allocated to different parts of your budget and allows you to just make simpler and better decisions for things that you either want to do and want to add to your budget or things you want to remove from your budget and along the top here so if we look at the emergency fund ideally this should cover three to six months of your expenses and then as you're tracking this as we get into each one of these this will calculate how many months your emergency fund will cover so this means that let's say you lost a job or you your salary is is reduced in some way and you know you need something to to be able to to cover and fill the gaps you'll be able to very quickly know how much uh how much time you have before you need to make other adjustments here in this summary view all of these things are powered by each one of these different tabs here so we have income savings expenses debts and Investments and depending on what you fill out in each one of these tabs this information in this summary view will be updated this summary view is really great for being able to answer simple questions like hey how much money do we have left over per month right this is your monthly Surplus or if I lost my job this week or next week what would we be able to do and what would we have to change in a situation like that and that could be looking at how much money you have in your emergency fund and that can be looking at different parts of your expenses to see what could be cut out of your expenses and what can't be cut out of your expenses if needed so let's get into each one of these tabs first is income and this is really simple so all you have to do is you have this income Source here and this can be you know this can be this spreadsheet can work for a single person or for multiple people your income Source can be people right so you can write someone's name you can have multiple if you have multiple jobs you can put multiple income sources here and anything that's highlighted blue are the things that you want to fill out and then all the other things are are calculated automatically for you so what you'll need to know here is your bi-weekly net income and your bi-weekly gross income for each income source so each each job that you have essentially then we go to savings and savings is this is kind of broken up into the various goals that you may have and you can set the goals however you want so let's say you're saving for a house and you need fifty thousand dollars to for a down payment you can track that and say okay here's the current amount we have saved and this will tell you how much you know how much percent complete you are towards that goal if you need to save for vacation for gifts like this can be used for Christmas birthdays all that kind of stuff so things you can kind of put aside throughout the year to make paying for those things a lot simpler and a lot easier then you have your emergency fund and you can figure out what you would need for that you can add as many savings goals as you want here but this is just a simple way to say oh yeah we need to save for this thing how much do we need to save and then you can start tracking that to see how much progress you're making then we get into expenses so like I said earlier expenses are broken down by four different buckets so you have essential and these are the expenses that you absolutely require the have to halves so this is expenses you enjoy and life would be ruined without them then you have nice to have so these are expenses you enjoy but life wouldn't be terrible without them you could get rid of them and then you have things that you truly should not have so these are the expenses that you regret and I've liked a video down here that I highly recommend watching and it's something that I had been putting together the spreadsheet for over a year at that point and kind of tweaking different things and I stumbled upon this video of of this person who was who had broken it down in this way and it just it just clicked for me so I I've baked it into this spreadsheet here so I highly recommend watching that because this person goes into a much deeper dive on these various buckets so now we get into the actual spreadsheet here and you can see that this is categorized by importance right you have this here there's some of the most of the basics are here but again you're going to have to adjust this and add things and remove Things based on your actual budget and and the things you're actually paying for and you really do want to be as accurate as you can here to say like what do you actually pay towards things and you may need to go through your actual uh bank statements to see what you're actually spending towards stuff especially things like groceries which are you know we all spend a shocking amount of money on that stuff but for all these things you want to go through and you want to so you want to give it a name you want to give it an important so is this essential is this a have to have a nice to have shouldn't have and really be you know again be be thoughtful and intentional about this stuff because it does matter and you can use this guide up here for figuring that out and then you can give it a sub category essentially and this is where there's a bunch of starter ones in here but you can add and change your own however you want to do it again this just gives you a nice way to be able to see if you look on the right hand side here you can see this is all kind of summed up by important so you can see that the totals of these were by category so you can see which categories are you essentially spending the most money in and that way again it gives you much more information so you can just make good decisions about how you're using your money and again everything in blue here you fill out so you can put in the totals here if something is a yearly expense like you know you pay for Amazon Prime or you know pay for Disney Disney plus it's an annual thing you can put that there so next we have debts uh this is things like credit cards mortgages cars anything that you are paying monthly on that has interest that kind of stuff so you want to track that stuff here and this is very simple you put in what the thing is if it's helpful you can put in the the kind of interest rate and then what is the actual balance and then you know if it's a credit card you can see like what the limit is you can add any nodes you want and again since this is a spreadsheet you can customize this however you want to fit the way that that your brain works and then lastly we have Investments so this is things like your 401k your IRA if you're into stocks all that kind of thing you can track all that stuff here and you can update as as often or as infrequently as you want but it'll give you a rough a rough total of your current Investments here now once all of these are filled in if you go back to summary everything you filled in will now be updated so you'll be able to very very easily see what your Current financial situation looks like you'll be able to see how much of an emergency fund you have what your monthly Surplus is again this is the money you you have remaining after paying all of your bills what your total debt is total Savings in general so total savings is different from emergency fund this is literally all of the savings you have across all of your savings goals here and then if you look at your income you can see how much you're bringing home per month and per year net and gross and then you can see a breakdown of your expenses and again this gives you really easy easy to digest information to be able to understand what your Current financial situation is like so that you can make better decisions for yourself family for the future I hope you found this helpful if you have any thoughts or feedback feel free to leave a comment if you're interested in getting this template there is a link in the description below with a bunch more details so thanks for watching and I will see you next time bye