Can AI build me a free budget tracker instead of a budgeting app?

I'll guide you through creating a monthly budget tracker in Google Sheets.

**Step 1: Setting up the sheet layout**

Create a new Google Sheet and set up the following tabs:

1. **Income**: This tab will track your income from different sources.
2. **Budget**: This tab will track your expenses and remaining budget.
3. **Summary**: This tab will provide a monthly summary of your expenses.

In the **Income** tab:

| Column Header | Cell Range |
| --- | --- |
| Income Source | A1 |
| Income Amount | B1 |
| Salary | A2 | B2 |
| Freelance Design | A3 | B3 |
| Rental Income | A4 | B4 |

In the **Budget** tab:

| Column Header | Cell Range |
| --- | --- |
| Category | A1 |
| Budgeted Amount | B1 |
| Actual Spend | C1 |
| Remaining Budget | D1 |
| % Spent | E1 |
| Housing | A2 | B2 | C2 | D2 | E2 |
| Utilities | A3 | B3 | C3 | D3 | E3 |
| Groceries | A4 | B4 | C4 | D4 | E4 |
| Transportation | A5 | B5 | C5 | D5 | E5 |
| Entertainment | A6 | B6 | C6 | D6 | E6 |
| Savings | A7 | B7 | C7 | D7 | E7 |
| Miscellaneous | A8 | B8 | C8 | D8 | E8 |

In the **Summary** tab:

| Column Header | Cell Range |
| --- | --- |
| Category | A1 |
| Total Spend | B1 |
| Housing | A2 | B2 |
| Utilities | A3 | B3 |
| Groceries | A4 | B4 |
| Transportation | A5 | B5 |
| Entertainment | A6 | B6 |
| Savings | A7 | B7 |
| Miscellaneous | A8 | B8 |

**Step 2: Entering formulas**

In the **Income** tab:

* Total Income: `=SUM(B2:B4)` in cell B5

In the **Budget** tab:

* Category Totals: `=C2` in cell C2 (and copy down to C8)
* Remaining Budget: `=B2-C2` in cell D2 (and copy down to D8)
* % Spent: `=(C2/B2)*100` in cell E2 (and copy down to E8)
* Total Budgeted Amount: `=SUM(B2:B8)` in cell B9
* Total Actual Spend: `=SUM(C2:C8)` in cell C9
* Total Remaining Budget: `=SUM(D2:D8)` in cell D9

In the **Summary** tab:

* Total Spend: `=SUM(C2:C8)` in cell B1
* Category Totals: `=Budget!C2` in cell B2 (and copy down to B8)

**Step 3: Conditional formatting**

To turn a category red when it's over budget, follow these steps:

1. Select the range of cells you want to apply the formatting to (e.g., D2:D8).
2. Go to the "Format" tab in the top menu.
3. Click on "Conditional formatting".
4. Select "Custom formula is" from the dropdown menu.
5. Enter the formula: `=C2>B2` (and adjust the column letters as needed).
6. Click on the "Format" button and select a red fill color.
7. Click "Done".

Repeat this process for each category.

**Tips and explanations**

* The `SUM` function adds up a range of cells.
* The `=C2` formula simply references the value in cell C2.
* The `=B2-C2` formula calculates the remaining budget by subtracting the actual spend from the budgeted amount.
* The `=(C2/B2)*100` formula calculates the percentage spent by dividing the actual spend by the budgeted amount and multiplying by 100.
* Conditional formatting applies a format to a cell or range of cells based on a condition (in this case, when the actual spend exceeds the budgeted amount).

By following these steps, you'll have a basic monthly budget tracker set up in Google Sheets. You can customize and expand it as needed to fit your specific budgeting needs.

I'll guide you through creating a monthly budget tracker in Google Sheets. We'll set up a simple and easy-to-use tracker that meets your requirements.

**Step 1: Setting up the sheet layout**

Create a new Google Sheet and set up the following tabs:

1. **Income**: This tab will track your income sources.
2. **Expenses**: This tab will track your expenses by category.
3. **Budget**: This tab will display your budget summary.

In the **Income** tab:

| Column Header | Column Letter |
| --- | --- |
| Income Source | A |
| Budgeted Amount | B |
| Actual Amount | C |

In the **Expenses** tab:

| Column Header | Column Letter |
| --- | --- |
| Category | A |
| Budgeted Amount | B |
| Actual Amount | C |

In the **Budget** tab:

| Column Header | Column Letter |
| --- | --- |
| Category | A |
| Budgeted Amount | B |
| Actual Amount | C |
| Remaining Budget | D |
| % Spent | E |

**Step 2: Setting up income sources**

In the **Income** tab:

1. In cell A1, enter "Income Source".
2. In cell B1, enter "Budgeted Amount".
3. In cell C1, enter "Actual Amount".
4. In cells A2:A5, enter your income sources:
	* A2: Salary
	* A3: Freelance design projects
	* A4: Rental income
	* A5: Cash gifts
5. In cells B2:B5, enter your budgeted amounts for each income source.
6. In cells C2:C5, enter your actual amounts for each income source.

**Step 3: Setting up expense categories**

In the **Expenses** tab:

1. In cell A1, enter "Category".
2. In cell B1, enter "Budgeted Amount".
3. In cell C1, enter "Actual Amount".
4. In cells A2:A11, enter your expense categories:
	* A2: Rent
	* A3: Utilities
	* A4: Groceries
	* A5: Eating Out
	* A6: Transportation
	* A7: Subscriptions
	* A8: Insurance
	* A9: Savings
	* A10: Miscellaneous
5. In cells B2:B11, enter your budgeted amounts for each category.
6. In cells C2:C11, enter your actual amounts for each category.

**Step 4: Setting up budget summary**

In the **Budget** tab:

1. In cell A1, enter "Category".
2. In cell B1, enter "Budgeted Amount".
3. In cell C1, enter "Actual Amount".
4. In cell D1, enter "Remaining Budget".
5. In cell E1, enter "% Spent".
6. In cells A2:A11, enter your expense categories (same as in the **Expenses** tab).
7. In cells B2:B11, enter the budgeted amounts for each category (same as in the **Expenses** tab).
8. In cells C2:C11, enter the formula `=Expenses!C2` (and drag down to C11) to link the actual amounts from the **Expenses** tab.

**Step 5: Formulas for category totals, remaining budget, and % spent**

In the **Budget** tab:

1. In cell D2, enter the formula `=B2-C2` to calculate the remaining budget for the first category (Rent). Drag this formula down to D11.
2. In cell E2, enter the formula `=(C2/B2)*100` to calculate the % spent for the first category (Rent). Drag this formula down to E11.

**Step 6: Conditional formatting rules**

To turn a category red when it's over budget, follow these steps:

1. Select the range C2:C11 in the **Budget** tab.
2. Go to the "Format" tab in the top menu.
3. Click on "Conditional formatting".
4. In the format cells if dropdown, select "Custom formula is".
5. Enter the formula `=C2>B2` (this will check if the actual amount is greater than the budgeted amount).
6. Click on the "Format" button and select a red fill color.
7. Click "Done".

Repeat this process for the range D2:D11 to highlight categories with a negative remaining budget (i.e., over budget).

**Step 7: Monthly summary**

To calculate your total income, total expenses, and remaining balance, follow these steps:

1. In the **Budget** tab, add the following formulas:
	* Total Income: `=SUM(Income!C2:C5)`
	* Total Expenses: `=SUM(Expenses!C2:C11)`
	* Remaining Balance: `=SUM(Income!C2:C5)-SUM(Expenses!C2:C11)`
2. Place these formulas in cells below the category list, for example:
	* Total Income: cell A12
	* Total Expenses: cell A13
	* Remaining Balance: cell A14

That's it! Your monthly budget tracker is now set up. You can enter your actual income and expenses, and the formulas will automatically calculate your remaining budget and % spent for each category. The conditional formatting rules will highlight categories that are over budget.