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Budget Template for Google Sheets 2023

The current economy has made us reassess our finances. It is important more than ever to know where your money is going. We’ve updated our budget template for you to use. Click on the button below to make a copy and register for our webinar to go over how to best use it!

The template is based on a $70,000 salary in California.

The budget is divided into four categories for easy tracking: income, saving + investing, expenses, and debt. The second tab has a net worth tracker to see how your debt and cash increase over time.

The template is meant to be used by creating an ideal budget and then on a monthly basis, updating with actuals.

We used googlesheets for our template for you to easily edit and make it your own.


How to Use the Budget Template

Using the 50/30/20 rules, you’ll want your budget to go towards 50% needs, 20% savings and debt repayment, and 30% wants

Read about the 50/30/20 method of budgeting.


The budget is divided into four categories for easy tracking: income, saving + investing, expenses, and debt. Start by calculating your after-tax monthly income and plugging it into the spreadsheet. You can include your side hustle income under “other income.”


Expenses, Savings and Debt Payments

After you have figured out your money coming in, its time to track the money going out. Essential expenses are necessities you can’t live without such as rent and utilities, groceries, transportation, insurance, etc.

Next up you want to include all your savings and investing, this includes your emergency fund, contributions to retirement accounts, investments, and any automatic savings you may have.

You want to cover your essential expenses first and give yourself some room for leisure spending, as long as you are directing 20% of your monthly income to your savings and/or debt payments.


Budget Summary

Once you have filled all the sections, the budget summary at the bottom will tell you how much money is actually going in and how much is going out compared to your projections, as well as the difference between the two. You would want to have the actual total in and total out to be $0.00. This would make sure that “every dollar has it’s place.”


Click here to download the free Snowball Wealth budgeting template.


Disclaimer: This example is based on a $70,000 salary in California after taxes. The information provided is for informational purposes only, to assist you in managing your own finances and decision-making. Snowball Wealth is not a financial advisor, investment advisor, financial planner, fiduciary, broker, bank or tax advisor.

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