It’s easy to get smarter about your money when you have a head start.
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.
Conduct a short internet job search for the type of position you will be applying for once you have completed your education. Consider your work experience in this search. For example, if you have no experience in the field, please search for entry-level positions or the type of position someone with your background could reasonably qualify for. Look for three positions that include wage/salary information. 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.
Please use the attached Starter File and create an Excel spreadsheet to break down your household budget. List monthly expenses and monthly income. You will need to list your expenses for 12 months (so you should have columns for each month). Remember, your expenses are not always the same every month (for instance, your electric bill could fluctuate based on how hot it is). Be sure to format the expenses and income as currency using one of the formatting options in Excel. Do NOT use any type of template. Remember, I’m not looking for format creativity. I am looking for the correct use of Formulas and Functions. Your Workbook should have the Budget numbers on one Worksheet (named Budget) and a Chart/Graph on another (named Chart). The attached PDF solution file is an example of what your submission should resemble.
Requirements of the assignment
- Title your spreadsheet with a meaningful title, in bold, at least 16 point size, centered above your spreadsheet content, and centered over more than 3 columns. Use “Merge & Center” provided in Excel. The rest of the document should be in 12-point font. All data that represents money is formatted as currency.
- Write your job title and the city and state you will live in
- Include 3 job titles, locations, and starting salaries from the job search you performed. Calculate the average starting salary numbers using the AVERAGE function. If your research shows a Monthly salary, calculate the yearly. If your research shows a Yearly salary, calculate the monthly. Please ensure that your salary realistically and accurately matches your skill set (for instance, you will not start an engineering job making 90,000 a year).
- 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.
- Make all negative numbers appear in red using automatic formatting or conditional formatting provided in Excel. Choosing RED as the choice for the font color is not correct. Apply this formatting to the entire worksheet. You must have a negative number somewhere in your calculations.
- For the following items, you MUST use an Excel function. You cannot calculate the values and enter a number. Excel functions include SUM, AVERAGE, MIN, MAX, etc. You must choose the correct Excel function and then use it properly to get full credit.
- Using an Excel function, calculate the average of each type of expense category for the months you have listed. You must select the right function, such as SUM or AVERAGE, and then use the function correctly in the cell you have selected. Be sure to label the row or column (note this will depend on how you set up your budget sheet).
- Calculate a subtotal for each expense category using a function provided in Excel. You must select the right function, such as SUM or AVERAGE, and then use the function correctly in the cell you have selected. Be sure to label the row or column (note this will depend on how you set up your budget sheet).
- Calculate a subtotal for each month, then a grand total of all the months, using functions provided in Excel. You must select the right function, such as SUM or AVERAGE, and then use the function correctly in the cell you have selected. Be sure to label the row or column (note this will depend on how you set up your budget sheet).
- Calculate your monthly income after expenses. For each month, subtract the monthly expenses from the monthly income. Use an absolute reference to reference the cell of the average monthly income. You must select the right function, such as SUM or AVERAGE, and then use the function correctly in the cell you have selected. Be sure to label the row or column (note this will depend on how you set up your budget sheet).
- Include a pie chart to display the breakdown of expenses. Use the expense categories you have listed and the average monthly totals you have calculated to create your pie chart. Put the pie chart on its own worksheet labeled “Chart.” Please note the chart values should be from the Budget worksheet. Do not copy the values you wish to plot into the Chart worksheet. Even though this would be an acceptable approach in real life, I want to see if you can plot non-contiguous data.
- Make sure your spreadsheet is clearly organized and well formatted. For example, no values should display as #####, so make sure your columns have the correct width for the data.
- Check your spelling
- Create a footer displaying the filename.
- Save your completed file with the filename formatted as Excel_Budget_yourfirstname_yourlastname.xlsx. An Excel document must be uploaded to D2L.
- I include the information of what the charts should have on it please use the same information I put on the paper.
- I also included the example of how the charts should look
- please follow these exact information if you have any questions feel free to contact me