Using Google Spreadsheets to monitor household budgets

Creating a monthly budget and sticking to it is a key element of managing your personal finances. While this post will not belabor about the importance of creating a monthly budget, it would certainly talk about the utility of Google Spreadsheets as a simple tool to monitor and manage expenses.

In a typical family unit, expenses are being made as a couple by both the wife and the husband. Using Google Spreadsheets to record expenses made would provide an easy and transparent way of monitoring expenses.

Some of the advantages of using Google Spreadsheet

• You don’t need to remember your expenses:- You can enter your expenses from anywhere as long as you have access to the Internet
• You can monitor expenses on a daily basis:- One need not wait till the month end to get a view on the total expenses made.
• The couple can view all their expenses at the same place. There are no her and his expenses, a consolidated view of the expenses can be seen at all times.

Keep in mind that using Google Spreadsheets as a tool to monitor your household expenses puts that information on the web. However this information is secure, as long as your password is secure and your account is not hacked into.

Next steps

1. Create a Google account, if you already don't have one
2. Log into Google docs
3. Go to File > New > From template
4. Search for Budget in search templates
5. An example of a budget template
6. Play with the various templates. Choose one which you like best.
7. Share the Google spreadsheet template chosen by you with your spouse/ other half.
8. You are ready to go

I personally don't use the templates available at Google. I believe they are quite complicated and are not representative of the Indian context. They are more suited for an American household. 

 

I have a much simpler template which I use for managing and monitoring my monthly expenses. I would be willing to share it with those who are interested. Let me know if you are interested and I would share it with you.