Complete this Microsoft Excel assignment to create a budget planner. Learn to use formulas like SUM, apply conditional formatting, and create charts for data visualization. Perfect for beginners to master Excel basics and manage finances effectively.
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:
Create a Spreadsheet: Open a new Excel spreadsheet.
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.
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.
Expenses:
List your typical expense categories under “Category” (e.g., Rent, Utilities, Groceries, Transportation).
Leave some rows blank for additional expenses you might incur.
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)
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.
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).
Chart:
Add a pie chart to visualize the breakdown of your income and expenses.
Submission:
Save your completed spreadsheet as “Budget_YourName.xlsx”