How to Make a 50/30/20 Budget in Google Sheets
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- Опубліковано 3 лип 2024
- A full tutorial for a 50/30/20 Budget in Google Sheets. I give a VERY brief overview of the 50/30/20 budget rule and a full walkthrough so you can make a 50/30/20 budget in google sheets from scratch. No spreadsheet experience necessary. You can apply all of the same steps to a 50/30/20 budget in Excel.
And if you don't want to make a budget spreadsheet yourself, you can buy this fully made 50/30/20 budget template for $5 - mrjamiegriffin.thrivecart.com...
Mentioned in this Video:
50/30/20 Budget Template for $5 - mrjamiegriffin.thrivecart.com...
Done for You Budget - mrjamiegriffin.thrivecart.com...
Sinking Fund Tracker - mrjamiegriffin.thrivecart.com...
Sinking Fund Tracker Printables - www.etsy.com/listing/14708374...
Video Sections - jump to what you want to watch:
0:00 50/30/20 Budget Rule Basics
1:22 Building your 50/30/20 budget template in google sheets
12:00 Updating your formulas when you need to add a new row
14:56 How to freeze rows to simplify your budget
15:36 Calculating your Total Income and Total Expenses
18:25 Adding Yearly Totals and Average Monthly Spending Columns
20:12 Figuring out your 50/30/20 Budget Expenses percentages
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You are the man! I love how easily you explain formatting a spreadsheet for someone like me with zero experience. This is the second budget spreadsheet you have helped me make.
Thanks for the positive feedback! I love helping people make budgets, and I’m glad this helped you get yours set up!
Thank you so much! This was extremely helpful especially for being a beginner with google sheets/ excel :)
Glad it helped! Spreadsheets can have such a steep learning curve, but you can do a lot with just a couple simple formulas! Good luck budgeting and let me know if there are more ways I can help!
Thanks for the help, just finished setting mine up. I will be using this in the future
You’re welcome! Send any questions my way if something comes up!
Huge help. Very well detailed. Thanks 🍻
Glad it’s helpful!
Thanks for the info
No problem 👍 happy to help!
My friend you are an absolute legend!!
Well that’s pretty dang kind of you! Thanks!
Amazing, thank you so much!
You’re welcome! Best of luck on your budgeting adventure! Swing back if you have questions!
Thankyou Very helpful
You’re welcome! Happy to help!
Thanks you so much it was helpful
You’re welcome!
choose the last row then insert row ABOVE and the added rows will be included in the total formula
That will definitely work too!
Thank you good sir
You’re welcome!
Great video. Liked and subscribed ❤😊
Thanks! Welcome to the fam!
Do you have a final shot of what the spreadsheet looks fully formatted? Thanks!
Thanks
You’re welcome!
Hi Jamie,
Just wondering on your 50/30/20 Budget in columns B is this where I put down actual monthly amounts needs to be paid ? With Jan , Feb months do I copy what put in column B ? Thanks for your budget once I finish it I’ll be able to see the whole year 👍🏻cheers Jason
Yea, column B says “Norm” so that’s your monthly expenses that need to be paid or your estimated amount you pay for variable expenses like groceries. You can copy what you put in column B for the other months of the year or enter the amounts in as you pay them throughout the month. That way it kind of acts as a checklist for paying bills too.
Thank you for the awesome video! I might create my own version but will most likely make a purchase. Is there a way to format it so that it includes a pie chart? Is the Normal Month a way to plan out your budget under ideal circumstances and then see how it changes throughout the months?
Yes that’s absolutely the purpose of the Normal Month column. You be oils absolutely format it into a pie chart. Creating a dashboard for my budgets is the plan for the future to make everything a bit more user friendly.
I think the simplest way to set up a pie chart is to use each sections total expenses cell and format it from there or if you purchase the template, there’s a row for each section that shows what percent of your income that is. If you use that row, it should create a pretty nice pie chart.
@@MrJamieGriffin Thank you! I am using the 50/30/20 budget now and it is definitely worth the purchase. Another question that I have is about peer to peer transactions like CashApp, Zelle or Venmo. I often lend 20 bucks here and there to my cousins/siblings. Where/how would you suggest budgeting that? I use them to payback friends at the end of a night out but I suppose that would be included in the night out total.
@@believeinbuffalo good! I’m glad it’s worth the money and I appreciate the feedback! I would include it in whichever budget category it aligns with best, just like you mentioned it being in your “night out” category.
Have you done a 50/30/20 on tiller?
I have used their monthly budget template but I haven’t set it up as a 50/30/20 budget. But if you’re looking for more automation, Tiller is the way to go
Hi Jamie, really good Im thinking to buy it rather them setting it up myself, but I get paid weekly is the link edible? and if so is it easo to change to weeks? thank you
The spreadsheet will be fully editable and customizable so if you want to set it up to display weeks instead of months.
@@MrJamieGriffin great thanks for quick reply, only thing thou im not sure 52 columns will be very user friendly. 🤔
@@Lerhamn78 maybe not, but you could set it up quarterly and have a new tab for each quarter.
Yes good idea will purchase after work :)@@MrJamieGriffin
Could you please explain why savings is counted as expense? Isn't savings different?
Great question! I set budgets up as a zero based budget, which means that once on - expenses = zero. Counting savings as an expense helps account for all money coming in and giving it a specific job, in this case building my savings. When you don’t count savings as an expense, it gets really easy to forget it or miss it. But when you think of it as an expense like your electricity or rent, it’s easier to remember and prioritize.
Thank you for the explanation, sir. This really helps, please upload content such as these.
@@MrJamieGriffin
@@user-up5fe9br7m happy to help! Is there any budget content you’d like to see?
@@MrJamieGriffin I have been interested in Credit Cards and Credit Scores recently. It would be helpful if you chronologically describe concepts about Credit Cards and how budgeting is related, such as APR and so on...thank you!
Hi Mr Jamie, just saw video 50/30/20 and purchased it at end of transaction it reads amount total is $80.00. I believe you mentioned that it is just $5.00. Please advise also there is no way for me to cancel the payment
Hi! I can absolutely answer this question. On the purchase page there is a button to click for an upgraded budget that is Done for You. By clicking the button, you purchased the upgraded version where you fill out a simple spreadsheet and I make a customized budget for you. That’s why your receipt said $80.
@@MrJamieGriffin
Hello Mr.Jamie, I have read your reply, I did not fill out any additional spreadsheet, I was only interested in the offer of $5.00 so that I can fill out myself as I am learning how to budget, please advise how do I receive a refund of $75.00? Thank you and see you again on your other videos
@@lucysam5820 I just started the refund process. You should see it in your account in 5-10 business days
❤ this I would love for you to give me step-by-step instructions please.
There’s a link in the description for a Done for You Budget where I basically make your budget for you. Follow this link to see if it’s what you’re looking for. mrjamiegriffin.thrivecart.com/done-for-you-budget/
Well Jamie I would ❤️ to purchase this, but as of ✅️ I can purchase with my lack of funds to do so,is there any other way you could get me this please.
@@ReneeThompson-mo4qj Another option would be the $5 budget spreadsheet where the actual budget with formulas is done for you, you just need to enter in your categories and the amount you budget for that each month. Here's a link for that - mrjamiegriffin.thrivecart.com/50-30-20-budget-template/
Is there any way you could get me this $5 budget spreadsheet to me for free because I am having a hard time coming up with the funds to purchase this please.
@@ReneeThompson-mo4qj Im sorry, I don’t have a free option for this budget spreadsheet
I bought the $5 template, but I thought I could use it in Excel. Can I only use it in Google Sheets?
OMG!!! I figured it out...feeling pretty silly...
Awesome! Let me know if questions pop up during set up!
Hello I need a little help with the actual % income
How can I help? Are you getting an error for the formula?
Yes I am getting an error from formulas and I also need a little help in calculation formulas as well,thanks for getting back to me when I comments,I love ❤️ your 50/30/20 budget spreadsheet it is a great teach step for me learning this.
@@ReneeThompson-mo4qj What error message are you getting? If you go to 15:36 in the video and 20:21 those sections will help you recreate the steps I did in this video. Without more information or screenshots it's difficult for me to diagnose your specific problems with calculations and formatting.
Need help with the calculations.
sample file?
I’m not sure what you mean when you say sample file. I do have this budget for $5 if you don’t want to make one yourself. It’s already formatted for you to enter your budget categories.