How to Make a Budget Spreadsheet in Excel (Step by Step)
Build a monthly budget in Excel: transactions table, SUMIF by category, budget vs actual, percentages and a running balance. Formulas included.
By Ayoub Farid · · 2 min read
A budget spreadsheet is the best first Excel project: it's useful, it's your own data, and it uses the formulas every job asks for. Here's how to build one in about 20 minutes.
Step 1: the transactions table
| A | B | C | D | |
|---|---|---|---|---|
| 1 | Date | Description | Category | Amount |
| 2 | 01/11/2026 | Salary | Income | 2,800 |
| 3 | 02/11/2026 | Rent | Housing | -950 |
| 4 | 03/11/2026 | Groceries | Food | -86 |
Income as positive numbers, spending as negative. Convert it to a table (Ctrl+T) so formulas extend automatically.
Step 2: categories and budgets
In a summary area (F1:I8):
| F | G | H | I | |
|---|---|---|---|---|
| 1 | Category | Budget | Actual | Left |
| 2 | Housing | 950 | ||
| 3 | Food | 400 | ||
| 4 | Transport | 120 |
Step 3: actual spend with SUMIF
In H2:
=-SUMIF($C$2:$C$500,F2,$D$2:$D$500)The minus sign turns spending back into a positive number. The $ signs let you fill down. See SUMIF.
Step 4: what's left
=G2-H2And a status:
=IF(H2>G2,"Over","OK")Step 5: percentages
Share of total spending, in J2:
=H2/SUM($H$2:$H$8)Budget used: =H2/G2. See percentage formula.
Step 6: totals and balance
- Total income:
=SUMIF(C2:C500,"Income",D2:D500) - Total spent:
=-SUMIF(D2:D500,"<0") - Balance:
=SUM(D2:D500) - Running balance in E2:
=SUM($D$2:D2), filled down. See running total.
Step 7: by month
Add a month column =TEXT(A2,"yyyy-mm") and use SUMIFS with category and month.
Make it easy to use
- Data validation (Data > Data Validation > List) for the Category column, so names always match.
- Conditional formatting to turn "Over" red.
Frequently asked questions
How do I create a simple budget in Excel?
List transactions with a category column, then use SUMIF to total each category and compare with your budget.
What formulas are used in a budget spreadsheet?
SUM, SUMIF/SUMIFS, simple subtraction, IF for over-budget flags and percentages.
Should expenses be negative?
Either works. Negatives make the balance a simple SUM; positives with a type column are easier to read.
Can I do this in Google Sheets?
Yes, all formulas work the same way.