Getting Your Life in Order: Creating a Simple Budget Using Google Sheets | Carmel Kundai Makaya | Skillshare

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Getting Your Life in Order: Creating a Simple Budget Using Google Sheets

teacher avatar Carmel Kundai Makaya, Writer|Graphic Designer|Smiler

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Watch this class and thousands more

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

5 Lessons (15m)
    • 1. Introduction

    • 2. What is a Budget? and Defining Your Why

    • 3. Setting Up Your Spreadsheet and Using Formulas

    • 4. Wish Lists and Lead Lists

    • 5. Conclusion

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About This Class

A few years ago, I started to take budgeting seriously. After trying to hold myself accountable only using receipts, and on paper, I developed this Google Sheets method for tracking my budget.

This course is for anyone who would like to begin logging their income and expenses in a simple way. We will cover everything from the definition of a budget to how to use mathematical formulas in Sheets.

Meet Your Teacher

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Carmel Kundai Makaya

Writer|Graphic Designer|Smiler


Hi! My name is Carmel Kundai Makaya. I am a writer, graphic designer, Youtuber, smile-r, and a host of other things.

Ever since I was little, I've loved to create and grow. From writing short stories, to blog posts, to YouTube videos, and now Skillshare courses! Thank you so much for stopping by, I'd love to connect with you more via my courses and social media.

- With a smile, Carmel

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1. Introduction: Hello and welcome to my sculpture of course, about budgeting. In this course, we'll go over what a budget is, why you should budget and how to budget using Google Sheets. 2. What is a Budget? and Defining Your Why: I recently took an economics class that challenged the way that IV budgets in the past, I thought of budgets as a way to limit by consumption now in pursuit of a bigger goal. And this is definitely one use of budgets and it's a great use by another way of looking at budgets is a way to maximize the money that you have by adding more of something over here and adding less of something over here. Combining these two ideas in this course, we're going to think of a budget as a way to maximize the money that you have now, as well as the money that you hope to have in the future. Before you even begin to create your budget or execute on your budget, you want to make sure that you have a very strong y. If you don't have good reason for why you want to maintain this budget, then it's going to be even harder to stick to it. Is or something in your future that you're aiming for. Is there something in your past that you are trying to move from? You want to make sure that you know this Y and that you write it down somewhere so that anytime you feel like string from your budget, you know, the ultimate reason why you're doing that. This can also help me figure out in any given month if going outside your budget is worth it or not. Does going outside your budget add to the school help you reach this goal or does it detract from it doesn't get you farther away from your goal. Keeping these thoughts in mind can help you understand that your budget is a tool to get you where you want to go, but it is not the ultimate goal. 3. Setting Up Your Spreadsheet and Using Formulas: When creating a budget, you want to define different categories that you want your money to go in. And you want to set percentages for each of these categories based on your total income. For example, you could do a 503020 split. So 50% of your total income will go to expenses, 30% will go to wants and 20% will go to savings. Okay, now it's time to finally start making your budget and working through it. There are a lot of different budgeting tools and apps out there. I prefer to just use Google Sheets that way I can manually track my expenses, which keeps me more aware of my expenses. It is also free and allows me to track my expenses from anywhere in the world. Internet connection. And that is very helpful for me. If you look on my screen now you can see the basic budget that I have every single month. I use the 5030, 20% split for my expenses, wants and savings. And then from there you can see I track where I start out with my income flow and where I end up also, anytime I have money coming in my truck and every time I spend money have money going out, I track that as well. I also track where I put my savings. That way I know that my money has not disappeared into the air. I put it somewhere. In addition to these basic categories, I've also put in a couple different formulas into this sheet so that it will automatically do the math for me. For example, over here with the 503020 split, I haven't set to do 20 or 50% of the total money coming in 30% of 20%. And the way that you do that is simply u du equals and we'll sign and then whatever Matthew want the sheet to do in this case, I want it to do 0.5. times i 16, which is the cell that I have my total in. So if I have more money come in, say I have a 100 shillings come in, then this number down here will change to 10,300. And over here, the 50% changes to 5,150. So that is a great, easy way to have the sheet do a lot of the math for you. You just have to put in the basic data. Another good, slightly more difficult function that can be really helpful to have is the currency converter. So say your entire she's in Kenya shillings like mine, but you want to know how much money that is in US dollars or vice versa, whatever currencies you're working with, all you're going to do is do equals, and then you click the cell, but you're wanting to convert, in my case, that's D6, which is this first amount times Google Finance. And then a open bracket will appear. And then you're going to do the quotation mark, currency, colon, and then your first currency followed by your second currency. So in this case that's K, S, which is the Kenya shilling. And then the second currencies, the US dollar, which is USD. Then you put a close. Mark and a closed bracket that is very confusing and might be hard to remember, but don't worry, Google has an entire list of all their functions that you can access just by doing a Google search or a few search currency converter Google Sheets, a formula will appear and you can just copy off of that. So don't worry if you can't remember that. But that is another really helpful function. If you want to do other basic functions like adding or subtracting, dividing, all you're going to do is equals and either click the cell that you're wanting to work with or type in the number. So instead of d2 or D7, sorry, maybe I would just want to write a 100 and then I'm going to divide that saved by 30. And so maybe that is, I spent three shillings every single day of this month. If you just want to know little quick math like that. Up here, you can see that I use one of those functions, the divide function, to figure out the percentage of a whole that I have here. So I wanted to see, for example, how much of my money is in savings. So I took the starting savings number, which is 200 shillings, divided by the total money number, which is 300 shillings. So that's 66.67%. And I didn't have to do that in my head. Maybe you could. It's nice to just have that their CDL have they keep track of it. And again, if I change any of these numbers, say by starting debit was actually 200. If I change that, the total money changes and the savings also changes automatically. I also have a section for notes for myself just so that when I'm looking back in a month, I can remember what the circumstances were surrounding that months here I put celebrating sister's birthday this month, which means that maybe my once are a little bit higher because I bought a present or something like that. And it's just a good reminder when I'm looking back to know that, oh, you don't need to worry, you don't need to be upset. This is why the number of slightly higher this month. I also have a section for goals so that every time I go into truck my expenses, I know what I'm aiming for. So maybe my goal for September 2020 is to buy a house. Then every time I go into right, that I bought a Cadbury or Hershey chocolate bar. I can be reminded in bright green that I am working to buy a house and that maybe I shouldn't do that next time I'm at the store going back to the 503020 split, as I said before, I have it set up to automatically figure out how many shillings go in each of those categories. And then I also have this little section for an actual like how much have I actually spent? So here I do annually, I don't use any fancy formulas. So you have equals and then some, which just means take the sum of every cell that I tell you to, or every number value that I tell you to sort out as D7 and D9. I decided D7 and D9, our expenses. And then on the ones category, we have D6 and D8 or once. And then in the savings category, I 25, which is down here, is the total, I haven't savings, usually about halfway through the months for two weeks and three weeks and I'll go in and mark all these to see where I'm at at the beginning of this budgeting journey, I would and every week or every day. But now I feel like I found a groove and so I don't need to do it as often from there, I also have all of these cells right here in the actual column set to conditionally format, which just means that I have told the computer, please highlight this in green, please highlight this in red if this cell says a certain thing. So in this case I said for these first two cells for expenses in once please highlighting green if the number is less than the ideal, because that means that I'm saving money and then highlight it in red. If I'm going over budget for the savings category, it's the exact opposite. Please highlight in red if I am below the ideal, if I haven't saved enough this month. And please highlight in green, if I have saved enough or even more than enough to conditionally format on Google Sheets, you're just gonna go to Format. And then Conditional Formatting. If you forget where it is, you can also just go to help and start typing conditional format. And it will appear here you can see that I have two rules set for this cell. For the read rule, it applies to only M3 routine, which is just this one cell applied to an entire range, but I just needed it to a pi to n 13. So if it is greater than what the value is, 13. So you just write equals L 13, then highlighted in red. And then you have the green rule, which is exactly the opposite. If it's less than L 13 than highlighted in green and you can change its color to whatever you want. I just stopped with green and red because it makes the most sense. So that's a really quick way as well to visually keep track of your expenses. And the, once you set it up, the computer program will automatically run these functions. And we'll run them until you tell them not to or until you mess with the syntax. So the language that you've put into the cell, and then it will just too, or whatever you have said it to you. Now, I also set up this extra column to track how much money I have left in a category. So for example, in expenses I still have 3 thousand shillings that I can spend, whereas in savings I need to save an additional 1000 shillings to meet my goal. Finally, have a sum function set in here to add up all the values that I have in this column. That way I can see if this 4,548 matches up with the two totals I haven't bowled over here. So the 3,548 plus the 100000, which is the savings, gives me 4,548. I know that I have added up all the cells and i have accounted for every single shilling that has come in and come out of my pool. 4. Wish Lists and Lead Lists: Moving on to the second tab that I have in the sheet and that is a wishlist. And for this, I just put in everything there I'm hoping to buy, whether it's in a month or in a quarter, sometimes it's over five years, just different things that I am working towards. And then once I get those things are once I'm able to purchase those things, hit that goal, then I will check it off and then are highlighted in grey. And that's just for me visually to keep track. I also have this wishlist split up into categories, and that's just a personal preference. So I have a general wishlist, a wishlist for gifts that I want to give other people, and a wishlist for our particular month if I'm really wanting to focus in on that month. And I feel like the goals tab or the goal section in the first tab doesn't do it justice than I will add it to this tab. Another visual way of organizing all of this information is I have a little column here that shows me based on color, how badly I want this item. So I use the colors of the rainbow. Red means are really wanted and then file it means that I don't really care about it. And then everything in between is every feeling in between. And that's just a way for me to be able to login quickly, look to see, okay, what is the next bread item on my list is, is still true. Okay, great. We're gonna work towards dot this month because sometimes you can get to a month and think, Oh, I mean, I didn't really want anything this month or I don't really have a goal, you know, we'll just see what happens. But when you have a running list, it can help you keep track of. Okay. It's the beginning of this year. I did set goals and I do want to work towards those goals. The third tab in this sheet is allele elites list. So if you're working for yourself, this is a great tap to have because you can't always reach out to every company or every person that you want to work with immediately. And so you can keep a running list of, okay, what service can I offer this person? What's their name with their organization? What links can I go to you to contact them or email and what note store I have. Why did I think that it was interesting to contact those person? If you have a pricing lists, then you will want to write out your pricing list so that you can be consistent. And this section is also color coded. So here have white, yellow, green, and red. So white means that haven't contacted this person, yellow means or contacted them, but I'm waiting for response. Read is eye contact with this person, they said no. And green is eye contact with this person and they said yes. And again, this is just another way of visually keeping track of where you are at with your leads list so that you don't contact the same people over and over again or you don't have to go through e-mails or your colleagues who see a Wait, did I already talked to this person? I'm not sure. So this is just another great way of organizing information. 5. Conclusion: I knew that this was a really short course, but I hope that it gave you an overview and a quick understanding of how to create your own budget, why you should budget and what a budget is in the projects and resources tab, I will have a view only version of this Google sheet that you can copy and make your own. I'd also love to hear from you in the Projects tab why you want to budget and if you've budgeted in the past, what has worked for you, what hasn't. I would love to also learn from you and to see what I can do better and we can go together. Thank you so much for tuning into this course. And I will see you in my next course.