Now that we've learned how to track expenses and income, we can figure out what we're spending our money on each month and establish a budget. We'll be re-using the Excel spreadsheet to figure out how to sum up expenses by category and create different charts. Be sure to learn your SUMIF formula in Excel where the formula is =SUMIF(category range,reference cell,sum range).
Building a Monthly Budget
Budgeting is a critical life skill for anyone to have, especially college students. Don't fall into credit traps or live beyond your means.
In this lesson, we pick up with an unbalanced budget and look at ways that we can cut down expenses. We also discuss additional topics on where to find savings as well as increase your income. The end result is a balanced, liveable budget.