csci 100(1)

Making a Budget Step by Step in Excel

Step 1: Type 'MY BUDGET' into cell A1 (Use all capital letters).

Hit the ENTER key. Notice how your selection moves down a line. Hit the ENTER key again to move to line A3. Enter 'INCOME' into cell A3 (Use all capital letters) Enter 'Job 1' into cell A4 Enter 'Job 2' into cell A5 Enter 'Other' into cell A6 TOTAL INCOME into cell A7 (Use all capital letters)

Point between A and B columns and drag the A column to the right so that all the words will fit in the column.

Step 2: Type Job 1 into cell E 1

Hourly wage into cell E2 Hours per week into cell E3 Weekly income into cell E4 Monthly income into cell E5

Point between E and F columns and double click it. ( Excel automatically adjusts the width for the content)

Step 3: Enter 10.00 into cell F2 Enter 40 into cell F3 Enter =F2*F3 into cell F4 Then hit the Enter key.

Type =F4*4 into cell F5

Then hit the Enter key.

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You will see these calculations. Excel multiplies the numbers for you.

Step 4: Click into the B4 cell. Enter =, and click F5 Hit the Enter key. This action lets you use a number from another part of the spreadsheet.

This is what you should see ->

Step 5: Enter Job 2 into cell I 1 Enter Hourly wages into cell I2 Enter Hours per week into cell I3 Enter Weekly income into cell I4 Enter Monthly income into cell I5 Point between I and J columns and double-click. (Excel automatically expands columns to fit text)

Step 6: Type 8.65 into cell J2 10 into cell J3 =J2*J3 into cell J4 Then hit the Enter key.

Step 7: Type = into cell J5. Then click J4. Add *4 to the field as shown, then hit the Enter key

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Step 6 Step 7

Step 8: Click B5, type =, and click j5 Then hit the Enter key.

Step 9: Click B7, click in the Editing column on the menu ribbon, and then hit

Enter. This will now auto-calculate all fields above it.

Step 10: Select column B and click $ sign in the Number column in the top menu ribbon.

If you have Other income, type numbers into cell B6, and hit Enter. TOTAL INCOME will update automatically. Add the $ sign to column F and I using the same method you used for column B.

When you are finished with the income section, your spreadsheet should like this one.

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Step 11: Type EXPENSES into cell A9 (Use all capital letters). Then

hit the ENTER key. Continue doing this.

House into cell A10 Gas/Electricity into cell A11 Water into cell A12 Garbage into cell A13 Car payment into cell A14 Gas for Car into cell A15 Car Insurance into cell A16 Bus into cell A17 Phones/Internet/Cable TV into cell A18 Food into cell A19 Clothes into cell A20 Day Care into cell A21 Education into cell A22 Entertainment into cell A23 Travel/Vacation saving into cell A24 Sending money home into cell A25 Saving money into cell A26 Other Expenses into cell A27 Income Tax into cell A28 Social Security Tax into cell A29 TOTAL EXPENSES into cell A30 (All caps) BALANCE into cell A31 (All caps)

Think about your budget to fill these spaces in.

Step 12: Click B28 and type the following formula =(B4+B5)*0.1

Then hit the Enter key.

Click B29 and type following formula =(B4+B5)*0.0765 Then hit the Enter key.

Step 13: Click on the B30 cell, then click

and change the formula to =SUM(B10:B29)

Then hit the Enter key.

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(It will look like this)

Step 14: Click B31 and Type =B7-B30 into the cell

And hit the Enter key.

Congratulations! You have created a budget sheet in Excel.

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Now that you have created a practice budget, you can set up your own.

Right click on the title (Sheet 1) of your worksheet at the bottom of the page. Select Rename and name your sheet : Practice

Now right-click the Practice tab, and choose Move or Copy.

In the Move or Copy window, check the Create a copy box, and click Ok.

Rename the duplicate worksheet from Practice (2) to : Budget

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Use what you've learned to create your own budget

Step 1 Select fields B10-B29, and hit delete. Note : Do not delete the B30 - B31 fields because they contain your formulas.

Step 2 Select fields F2 - F3, and hit delete. Then select fields J2 - J3 and hit delete. Note : Do not delete F4-F5, and J4-J5 because they contain your formulas.

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You are now ready to create your own budget in Excel.