Effortlessly Manage Your Monthly Bills Template for Teams

Monthly bills template for teams

hey everybody this is the free Google Sheets  budget template and in this video today I'm going   to show you how I customize this free template  and make it really work for my budget I think   it'll work for you too and I've structured this  video so that you can follow along in real time   and set up your monthly budget as well now let's  get started step one is to locate and open this   monthly budget template and when you open Google  Sheets from a computer just look for the monthly   budget spreadsheet it should be located near the  top of the screen but if not click on template   gallery and then you can find the monthly budget  under personal let's open it up and we'll continue   step two is to start with the clean slate and  the first thing you'll want to do here is give   the budget template a new name in the upper left  corner change the name of the spreadsheet from   monthly budget to sample budget to copy every  month and I'm going to explain later on why   that's so important next you're going to want  to delete the sample amounts on the summary and   transaction spreadsheets but be careful here if  you don't follow my instructions it could break   the formulas in the spreadsheet let's begin  with the transaction spreadsheet and you can   access that by clicking on the transactions tab  located right at the bottom of the screen you   see the sample expenses for rent and paycheck  and they're there to show you how to use the   spreadsheet but we don't really need them so  what you want to do is click on the number   five that's to the left of your screen and it's  going to select the entire row then make your   way to the edit drop down menu you're going to  click delete and then values now make your way   to the bottom of the transaction spreadsheet  and notice that it ends with row 33. now that's   going to be a problem if you've got more than  33 transactions in a month and that's likely   So to avoid any issues just click add 1000 more  rows at bottom and now you see you've got 1033   rows for transactions now once you've made those  changes you're going to flip back to the summary   spreadsheet and to start with a clean slate here  first adjust the starting balance in cell L8   from one thousand dollars to zero dollars then  we're gonna wanna zero out the sample home and   paycheck amounts one is on the expenses side the  other on income first I've highlighted cell D31   that's home and I'm gonna switch it from 950  to zero and press enter then do the same in   the paycheck cell that's j29 instead of 1450 again  click zero and enter everything's zeroed out now   scroll down to the end of the summary spreadsheet  notice that it ends with row 44. so if you think   you may need additional expense categories and who  knows you may down the road click add a thousand   more rows at the bottom just like you did on that  transaction spreadsheet this time you will get a   pop-up that warns about editing the spreadsheet  but go ahead and click OK and now I've scrolled   down to the bottom of the summary page and there  are 1044 rows let's keep it moving step three is   to customize a sample monthly budget and we're  going to stay toward the bottom of the summary   spreadsheet here because the first thing I want  you to do is add a third spreadsheet for fixed   expenses in the lower left corner click the plus  sign for add sheet and then you can change the   name of the sheet to fixed expenses I also like  to move the sheet to the end after transactions   then you need just two columns one for expenses  and the other for your projected spending now   fixed expenses they include things like your  house payment cell phone bill TV Bill utilities   subscriptions and insurance payments some people  also like to include irregular expenses here but   really just think about expenses that don't vary  too much from month to month once you've listed   all your fixed expenses highlight the values in  the projected column and then go to the upper   right corner you see here it says functions the  first option is sum then you'll click enter and   it'll total all the values in the projected column  for you remember your total and now flip back to   the summary spreadsheet make your way to the  top of the spreadsheet and then change the first   line on the expenses column from food to fixed  expenses and then you're going to enter the total   from the fixed expenses worksheet that you just  made put that total in the planned column the   great thing about this is now all of your fixed  expenses only take up one line on the summary   spreadsheet and why is that important anyway  what allows you to focus more on the variable or   flexible spending categories that have a greater  impact on your day-to-day spending so let's talk   more about those Now's the Time in the process  where you can customize your categories and you   can safely change the Shaded expense and income  categories on the summary spreadsheet through   line 41 but don't fill in the plan column for any  of your expense categories at least not yet that's   later The Only Exception is fixed expenses which  we just did so if you're creating your budget in   real time as you're watching this video you may  want to pause it so you can take a little time to   determine your spending categories you can always  review some credit card or bank statement events   to help you figure those out I've scrolled down  the summary spreadsheet to make a very important   point because this is where a lot of people get  tripped up you see on the expenses side they   end with row 41 but what happens if you need  additional rows pay close attention there's a   specific way to add rows so you don't mess up the  formulas first you'll go to the last row of the   expense column that's line 41 and mine is still  called custom Category 3 you may have renamed   Yours by now that's okay then watch as I highlight  the cells that I want to duplicate next you're   going to drag down using the blue handle to add  the desired number of rows you can add as many as   you want but I added nine rows so that I stopped  on row 50 and I do recommend that for Simplicity   you'll see why later on then just click OK when  you're prompted with this pop-up warning and then   you can continue at this point you see the new  categories are there and you can rename them   whatever you want to call them after that just jot  down the last row that you created now we'll flip   over to the transactions tab to to continue I'm at  the top of the transactions Tab and I've navigated   to the category drop down that is an E5 when I  click on the drop down you'll notice that not all   of the new categories are reflected here remember  it ended with custom category 12 in my example but   it doesn't show that category on the screen so  let's fix that first you're going to highlight   the cell under a category on the expenses side  so that's Row 5 and column E from the data menu   at the top of the screen select data validation  and now to the right of the screen it should say   data validation rules there's two options here  select the one at the top with the E values now   make your way down to the criteria summary field  and you see the formula with the dollar signs and   summary well to the right of that it says select  data range click on that and here all you got to   do is change the last two numbers of this formula  you want it to match the number of your last row   from the summary spreadsheet so that was 50 as  I previously mentioned I'm going to change digit   from 44 to 50 and then select OK after that click  done at the bottom of the data validation rule   screen then go back to the category drop down on  the transactions Tab and make sure that all of   your categories appear custom category 12 is there  so this worked step four is to make a copy of the   sample budget and plan your spending we're making  Fast progress here for this step first go to the   file menu then select make a copy and rename the  budget for the upcoming month so for this example   I'm going to use January 2023 budget I go back to  the sample budget every single month to make a new   copy and as you see here all the categories and  the fixed expenses spreadsheet have been copied   over automatically now from here there are  two things you want to do from the summary   spreadsheet first plan your spending in all your  categories that's on the expenses side and second   estimate your paychecks and other income sources  on the income side so now that we're on the actual   monthly budget and not the sample you can go ahead  and enter your numbers in the planned column and   of course your goal is to have your estimated  monthly income be greater than or equal to all   of your planned expenses and this is important if  you need to make tweaks to your categories or the   fixed expenses spreadsheet anytime in the future  make those changes to the sample budget before   you make a copy that's going to save you time  and by creating that sample budget you don't   need to tweak the formulas every single month it  really simplifies the process step number five   the most important step is to track your expenses  throughout the month and really the key to making   this budget work is tracking your expenses  throughout the month using the transaction   spreadsheet the first transaction that I log every  month is for my fixed expenses so I just enter the   total from the fixed expenses worksheet on the  transactions Tab and this will update the actual   column for the fixed expenses category on the  summary spreadsheet now after that transaction and   I really tend to do most of my budgeting on the  go with the Google Sheets mobile app it's free and   from the app I can get an overall snapshot of my  spending from the summary spreadsheet and I enter   transactions on the transaction spreadsheet so  here's an example before I go to the grocery store   I'll open up the Google Sheets app and I'll look  at the summary tab to see how much money I've got   left to spend in this case 500 bucks remaining in  the groceries category because it's the beginning   of the month and then after completing my purchase  at the store I immediately record the transaction   before I even leave the store or the parking lot  to do that I'll just flip over to the transactions   tab enter the date amount description and category  and then when I go back to the summary tab that   recent transaction is reflected after spending  100 bucks I can see that I now have four hundred   dollars left to spend on groceries for the month  checking in with my budget before every purchase   that's really my secret weapon and it saved me  a lot of money this is of course very easy with   the mobile app but if you prefer to do all of  your work on the computer that's fine you got   to do what works for you you can always log your  transactions using a computer as well and another   great thing about this budget is that you can  share it do that in the upper right corner so   if you maintain a budget with a partner you  can both make changes to the same budget   from either your computer tablet or smartphone  give this video a like if you found it helpful   and you can find more of my budgeting content  on michaelsaves.com thanks a lot for watching