Google Sheets Simple Single Person Budget Templates

Creating a budget can be a daunting task, especially for someone who has to manage multiple financial responsibilities. For instance, consider the case of a single person with two kids in school and one in daycare, earning $2,000 per week. With such a significant income, it's essential to create a budget that accounts for all expenses, ensuring that every dollar is used wisely.

Reggie, a single father, faced a common challenge many people encounter: overspending. Despite having a simple budget, his credit card balance increased, and he struggled to stick to his $3,000 monthly budget. To break down his spending habits, let's take a closer look at his income and expenses.

Using Google Sheets, Reggie created a budget template that includes categories for 'Auto,' 'Food,' 'Personal,' and more. By tracking his actual spending, he quickly identified areas where he overspent: 'Auto,' 'Food,' and 'Personal.' His car payment was significant, and he had student loans and credit card debt.

To create a realistic budget, Reggie started by accounting for essential expenses, such as groceries ($150 per month) and rare dining out. He also included categories for his kids' expenses, including school supplies and daycare fees. Since he has no pets, that section was zeroed out.

Here's an example of Reggie's monthly budget:

* Income: $3,000

* Fixed Expenses:

+ Auto loan payment: $500

+ Rent/Mortgage: $1,200

+ Utilities: $150

+ Insurance: $100

* Variable Expenses:

+ Groceries: $150

+ Entertainment: $50

+ Personal expenses: $100

+ Kids' expenses (school supplies and daycare): $500

* Savings: 0%

* Debt repayment: 10%

By using a simple budget template like the one shown above, Reggie can track his spending habits and make adjustments to ensure he's staying within his means. With Google Sheets, it's easy to create custom templates that cater to individual financial needs. By prioritizing essential expenses, saving for the future, and paying off debt, Reggie can take control of his finances and achieve long-term financial stability.

Google sheets simple single person budget templates