Replacing your budget spreadsheet: what to actually track

A useful budget needs four things: your income, your regular expenses, how often each one happens, and a category for each. From those, you can see your monthly total and what is left over.

The four things to keep

• Income: each source and how often it pays.
• Expenses: each regular bill or cost.
• How often: weekly, bi-weekly, monthly or yearly.
• Category: a simple label, like housing or groceries.

Signs your spreadsheet is too much work

• You put off updating it.
• A formula broke and you aren't sure which numbers to trust.
• Opening it on your phone is a pain.

How to switch without starting over

1. Copy your current income and regular expenses to one short list.
2. Delete old one-time items that won't happen again.
3. Group what's left into 5 to 10 categories.
4. Enter that list into your new tool, and check that the monthly total looks right.

When to keep the spreadsheet

A spreadsheet is still a good fit if you enjoy building it, or you need custom formulas. If you mainly want to know whether you're in the green each month, a simpler tool may be enough.

Try the budget calculator

Questions

What is the minimum I need for a budget?

Your income, your regular expenses and how often each happens. That lets you work out what is left over each month.

How many budget categories should I use?

Few enough to keep up with. Five to ten is a practical place to start, and you can always add more.

Related guides

• How to budget with a bi-weekly paycheck
• Fixed vs. variable expenses: what is the difference?
• How to turn weekly, yearly and quarterly bills into a monthly number
• How to see where your money goes each month

Budgeting gear

This guide is general information, not financial advice. The numbers are examples.