Your Budget
1. In the 'Income' column, enter how you earned money last week and in the 'Amount last
week' column enter the amount.
2. Study the formulae in cells C7, D7 and E7. In cell B7, enter a formula to calculate your total
income last week. What was the total of your earnings for last week?
3. In the 'Expenses' column, list everything that you spent money on in the last week and in
the 'Amount last week' column, enter the amount.
4. Click on cell D10. Explain how the spreadsheet calculates values that appear in this cell.
Why would the formula ‘=C10*4’ be inappropriate?
5. Go to cell E10. Enter a formula to calculate the amount allocated per year for this
expense. Highlight the cells E10 to E25, then go to the ‘Edit’ menu and click on the ‘Fill
Down’ command. [If you have opened this spreadsheet with Excel 2007, click on the cell
E10 then drag the fill handle down until the cells E10 to E25 are highlighted.]
6. Prepare your weekly budget by first considering your income and expenses from last week
then allocating your funds accordingly. Enter these amounts in the ‘Allocation per week’
column.
7. How much would you like to save each week? Adjust your expenditure to achieve your
savings goal.
8. In cell E29, write a formula to calculate the total amount saved in one year.
9. -
Highlight the cells listing your expenses then, holding down the ‘Ctrl’ key, highlight the
corresponding cells in the ‘Allocation per year’ column.
- Go to the ‘Insert’ menu and click on ‘Chart’. Choose a Pie chart then click ‘Next’ then
‘Next’ again.
- In Step 3, click on the ‘Titles’ tab and in ‘Chart title’ enter ‘Weekly Budget’. Go to the
‘Data labels’ tab then choose ‘Percentage’.
- Click ‘Next’ then ‘Finish’.
What percentage of your total expenses is your largest expense?
10. Suppose an unforseen expense arises which takes 10% of your income. Adjust your
budget to account for the extra expense.
Your Budget
ANSWERS
2. =SUM(B4:B6)
4. The cell calculates the monthly amount by first changing the weekly amount to a yearly
amount (by multiplying by 52) and then dividing by 12. The formula would not be
appropriate since there are more than 4 weeks in a month. (Expect of course in February
in a non-leap-year).
5. =D10*12
8. =E7-E26