I actually read "Accounting for Dummies" for fun. Basically, there are three statements every business needs to have: cash flow, assets and liabilities, and net profit. For your personal business of your life, this translates into A) cash flow, B) net worth, and C) income/expenses (incl. taxes)/savings breakdown. ("Budget" could be either the first or the third, depending on how you understand it and set it up.) This means you will have three separate spreadsheets, tracking three separate things.
I have one spreadsheet #1 for net worth, updated mid-January each year. That's simple enough. I have one #2 where I project income, retirement contributions, taxes, and savings for the following year, such that they match my projected expenses. At the end of the year I update with actual values. This one is super complicated, as I do my own tax calculation, with four different retirement accounts, etc. The third spreadsheet #3 tracks all expenses in 30 categories, in monthly columns, for the calendar year. This allows projections for the following year, and for after kids/retirement expenses. This is the number I try to match with projected expenses in the second spreadsheet. My #2 and #3 kind of combine A and B, but that is a situation that evolved over the years.
Except for tracking expenses, which is done once a month (and currently I'm 4 months behind), everything is updated yearly. More often than that is like watching the stock market with all the ups and downs, which sucks up your energy and time and is distracting.