Home

Excel Sheet Assignment: Budget Planner

Connect with me: Youtube | LinkedIn | WhatsApp Channel | Web | Facebook | Twitter

This assignment will help you practice creating a budget using Excel formulas and formatting.

Scenario: You are planning your monthly budget. You want to track your income and expenses to ensure you don’t overspend.

Instructions:

  1. Create a Spreadsheet: Open a new Excel spreadsheet.
  2. Headers: In the first row, create column headers for:
    • Category: This will list your income and expense categories (e.g., Salary, Rent, Groceries, Entertainment).
    • Amount: This will hold the numerical value for each category.
  3. Income:
    • List your income sources in a few rows under “Category” (e.g., Salary, Part-time Job).
    • Enter the expected amount you will receive for each income source in the “Amount” column.
  4. Expenses:
    • List your typical expense categories under “Category” (e.g., Rent, Utilities, Groceries, Transportation).
    • Leave some rows blank for additional expenses you might incur.
  5. Formulas:
    • In the “Amount” column for your total income, use a formula to sum all your individual income amounts. (e.g., use the SUM function)
    • In the “Amount” column for each expense category, enter the estimated amount you plan to spend on that category.
    • Create a formula in a separate cell to calculate your total expenses by summing all the individual expense amounts. (e.g., use the SUM function)
  6. Difference: Create a formula in another cell to calculate the difference between your total income and total expenses. This will show you if you have a surplus (positive) or deficit (negative) in your budget.
  7. Formatting:
    • Use bold font for the headers and total labels.
    • Apply currency formatting to the “Amount” column.
    • Use conditional formatting to highlight cells with negative values (expenses exceeding income).
  8. Chart:
    • Add a pie chart to visualize the breakdown of your income and expenses.

Submission:

  • Save your completed spreadsheet as “Budget_YourName.xlsx”
  • Submit the spreadsheet to your instructor.

Learning Objectives:

  • This assignment will help you practice:
    • Creating and formatting tables in Excel.
    • Using basic formulas (SUM).
    • Applying conditional formatting.
    • Creating charts for data visualization.