BEGINNINGS TO BUDGETING

MS Office 2

OBJECTIVES

• I can…– Format text and insert formulas in Excel– Develop and utilize a budgeting tool for

day-to-day living– Communicate with peers whether through

assistance or blogging

PROCEDURES

• Today we will…– Check the blog – responses?– Review budgeting– Begin creating a user-friendly budget– Review – React – Reflect

BLOGGING ABOUT BUDGETING

• Any blogging agreements?• Did anyone blog this weekend?• Let’s check it out…

– Technology Breakout

BEGINNING THE BUDGET

• Paper or Electronic (software program)?– Why?– How?

• Monthly tracking or Daily tracking?– Why?

• Let’s get started…

BUILDING THE BUDGET

• STEP 1: Create/Format the Template– Create new workbook in Excel

• Save in Z drive>MS Office 2>Excel• File name: budget_FILN; save as template

– Enter text for projected and actual budget comparisons on Sheet1

– Enter text for daily tracking in categories on Sheet2

BUILDING THE BUDGET

• STEP 2: Formulating the Budget (Sheet2)– Freeze header row for easier browsing– Enter projected budgeted amounts (from

worksheet) at bottom of each category in the row labeled “Budgeted”

– Sum column totals in row labeled “Total”– Calculate columnar spending balances in row

labeled “Balance”

BUILDING THE BUDGET• STEP 3: Linking the Data

– Link “Budgeted” amounts (Sheet2) back to Projected Budget (Sheet1)

– Link “Total” expenditures (Sheet2) to Actual Budget (Sheet1)

– Calculate subtotals, income, and balance (Sheet1)

– Apply Conditional Formatting to “Difference” amount on Actual Budget (Sheet1)

USING THE BUDGET• Now that you have a budget TEMPLATE:

– Create workbook from template for each month

– Update totals according to expected expenses that month

– Track daily spending – once habit is made, can be VERY effective!

– Reflect and adjust accordingly

REVIEW & REACT• What are some benefits of budgeting?• Objective Review:

– Format text and insert formulas in Excel– Develop and utilize a budgeting tool for day-to-

day living– Communicate with peers whether through

assistance or blogging• How will you use these skills/tools?

REFLECT• Reflection in Action (exit slip)

– 2 new things you learned today– 1 question/concern you may still have

• Comment on blog

• Please return budget worksheets and exit slips upon completion. You are dismissed at the bell. Have a great day!