Staying on top of your money doesn’t have to be complicated. Whether you’re managing household expenses or tracking business spending, comparing your budget to what you spent helps you make better choices.
With Google Sheets, you don’t need fancy software—just a simple setup that shows you how close you are to your financial goals.
Why Should You Track the Budget vs. Actual Spending?
It’s easy to lose track of where your money goes. You plan to spend a certain amount each month, but reality often looks different. A Budget vs. Actual template helps you see:
- Where you’re overspending
- Which areas you’re saving in
- If your budgeting habits are realistic
- How to adjust your future spending
This kind of tracking builds money awareness. And awareness leads to better decisions.
Step 1: Open Google Sheets
Start by opening a blank spreadsheet in Google Sheets. Give it a name like “Budget vs. Actual – April 2025” so it’s easy to find later.
Step 2: Set Up Your Categories
In Column A, list down your budget categories (like Rent, Groceries, Utilities, Transportation, etc.).
- Rent
- Groceries
- Utilities
- Transportation
- Entertainment
- Savings
- Debt Repayment
Step 3: Add Your Headers
In the top rows, write the following headers:
- Budget
- Actual
- Difference
- Status
You’ll compare what you planned to spend vs what you actually spent.
Step 4: Enter Your Budget and Actual Spending
Under the Budget column (Column B), enter the amount you expect to spend in each category. The same thing applies to your actual spending.
Step 5: Calculate the Difference
In D2, type this formula:
=B2-C2
This will show you the difference between what you planned and what you spent. Drag the formula down for the rest of the rows.
Step 6: Add a Status Column
In E5, add this formula to show whether you’re Under, Over, or On Track:
=IF(D5>0,”Under Budget”, IF(D5<0,”Over Budget”,”On Budget”))
Drag this formula down to apply it to the rest of the categories.
Step 8: Make It Look Nice
Highlight your headers and make them bold. Use borders to separate sections clearly. Apply conditional formatting to the “Status” column.
To do this, highlight Column E. Go to Format > Conditional formatting. Set up rules based on the text content. Choose your colors
Step 9: Add Totals
In Row 14 (or just below your last category), label 14 as Total. Then use =SUM(B2:B9) in B10 to total your budget. Use =SUM(C2:C9) in C10 for your actuals. And =B10-C10 in D10 to see your overall difference. This gives you the big picture.
If you want to collaborate with others, you can share your sheet. Click the Share button in the top right. Add their email or get a shareable link. Choose their permissions: Viewer, Commenter, or Editor. Sharing helps everyone stay on the same page and stay accountable.
Get the Free Budget Vs. Actual Template
Get a copy of the free Budget Vs. Actual Template. I’ve populated some cells as examples, but you can customize them as needed.
Final Thoughts
Money doesn’t move the same way every month, but having a clear view helps you control it better. Templates like this aren’t just about numbers—they’re about building confidence in your financial habits.
Keep it simple. Review it often. And don’t beat yourself up over small misses—what matters is the awareness you gain.
Frequently Asked Questions
Can I use formulas to auto-update the “Difference” column?
Yes! Use =B2-C2 in the first row of the Difference column and drag it down. Google Sheets will update it for each row automatically.
Can I add charts to visualize the data?
Absolutely. Select your Budget and Actual columns, then click Insert > Chart. Choose a bar or pie chart to compare categories visually.
How can I protect certain cells from editing?
Right-click on the cell or range, choose Protect range, and set permissions so only you (or certain users) can edit it.
The Bottom Line:
One keeps you awake. The other gets work done.
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A month of FileDrop: $9.99
Why not have both?
