You must have a negative somewhere in your calculations Apply this formatting to the entire worksheet. Choosing RED as the choice for the font color is not correct. Make all negative numbers appear in red using automatic formatting or conditional formatting provided in Excel.Include at least 8 expense items such as electricity, telephone, gas, groceries, rent/mortgage, car payment, student loan payments, credit card payments, entertainment allowance, clothing allowance, etc.Please make sure that your salary realistically and accurately matches your skill set (for instance, you will not start an engineering job making 90,000 a year). Find the average starting salary (using the AVERAGE function) Calculate and label your monthly income by dividing the annual income cell (reference the cell) by 12. Include 3 job titles, locations, and starting salaries from the job search you performed.Write your job title and the city and state you will live in.All data that represents money is formatted as currency. The rest of the document should be in 12 point font. Title your spreadsheet with a meaningful title, in bold, at least 16 point size, centered above your spreadsheet content and is centered over more than 3 columns.You should start from a blank, clean, Excel document. The designs must be easy and logical to read. Be sure to format the expenses and income as currency using one of the formatting options in Excel. Remember your expenses are not always the same every month (for instance your electric bill could fluctuate based on how hot it is). You will need to list your expenses for 12 months (so you should have columns for each month). List monthly expenses and monthly income. Once you have found 3 job ads that include salary information, determine the average starting salary and use this as the basis for your household budget.Ĭreate an Excel spreadsheet of your own design to breakdown your household budget. Look for three positions that include wage/salary information. For example, if you have no experience in field, please search for entry level positions or the type of position someone with your background could reasonably qualify for. Consider your work experience in this search. In this assignment, you will use Excel to create a household budget to help maintain control over your finances and see how your money is being used.Ĭonduct a short internet job search for the type of position you will be applying for once you have completed your education. If you eat out three times a week with your family or friends, you could potentially save hundreds of dollars each month by eating at home or by simply moving these gatherings to someone’s house.It’s easy to get smarter about your money when you have a head start. This category can include things like trips to the coffee shop, going to the movies, and dining out at restaurants with friends. Discretionary expenses: These are personal expenses where you have more control over what and how much to spend.For example, turning down the heater by a degree or two in the evening or using coupons for your purchases can help decrease these flexible costs. You can lower these expenses by changing your habits. Flexible expenses: These are the necessary expenses that can vary each month, such as your utilities and weekly grocery bill.You generally need to make big changes in your life to impact these expenses, such as trading in your flashy ride for something more economical or shopping around for a better insurance rate. Fixed expenses: These are the necessary expenses that remain the same each month, including your rent, car payment, and insurance. Consider separating your expenses into the following three categories: You might want to distinguish between different types of expenses, potentially highlighting each in a different color. No fee online tools, such as My Spending Report, can automatically track your spending to give an overview of your finances. To find patterns in your spending, try organizing your purchases in an expenses worksheet. While this includes your recurring living expenses, such as your rent or mortgage, car payment, and utilities, it also includes the more variable amounts you spend on haircuts, groceries, and clothes each month. Looking for charges you make regularly can help you determine your largest expenses. These documents, such as bills, mortgage statements, and account statements, can help you see exactly where your money is going. If you take the process step-by-step, it can be surprisingly easy to find out how you’re spending your money. If more cash seems to be going out than coming in, a great way to get control is to set aside some time to calculate your expenses. Between your monthly bills, daily necessities, and the little things you buy along the way, it can be difficult to know where all your money goes.
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