A simple budget in Sheets

Plan your money with a simple budget. A budget is a plan for your money. It shows what comes in, what goes out, and what's left. It helps you save for things you want, and avoid running out of money before the end of the week or month.

Income and expenses

Income is money coming in, like pocket money, wages, or money from selling things. Expenses are money going out, like transport, food, data and airtime. Here's Kemi's weekly budget. She gets ten thousand naira. She spends three thousand on transport, four thousand on lunch, and fifteen hundred on data. In the last cell, the formula takes away all her expenses from her income, and shows what's left, fifteen hundred naira. Kemi wants a school bag that costs nine thousand naira. If she saves fifteen hundred a week, dividing the price by her weekly saving shows it will take six weeks.

Make your own budget

First, list the money you get in a week or a month. Second, list everything you spend money on. Third, add up your expenses with a SUM formula. Fourth, take your expenses away from your income to see what's left. And fifth, check it every week, and adjust it if things change.

Money tips

Pay yourself first. Put a little into savings as soon as money comes in, before you spend. Track small spending, like snacks and airtime. It adds up faster than you think. And put needs, like transport and food, before wants, like a new game.

Quick check

Quick check. Your income is 8,000 naira and your expenses are 6,500 naira. How much is left? 1,500 naira. Income minus expenses is what's left over. Options: ₦1,500; ₦14,500; ₦6,500; ₦8,000.

Recap

A budget is a plan for your money. Income comes in, and expenses go out. What's left over is income minus expenses. Save first, and track your small spending.

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