For
this lesson, you will need to create a personal budget.
Please make sure you have done the exercises at your disposal in: Introduction
to Microsoft Excel before embarking on this assignment. If you’d like
to see an example, click here.
Your
grade will be based on the following; (160
points total)
1.
Your name
clearly shown on the page. (2 points)
2.
A title
for this spreadsheet. (2 points)
3.
All 12
months of the year clearly shown. (12 points)
4.
A cell
entitled Income. (1 point)
5.
At least
4 different sources of income. (4 points)
6.
For each
month, you must have some indication of income shown. (12 points)
7.
A cell
entitled Total Income. (1 point)
8.
A range
of cells that is the calculation for the Total Income that is the sum of all income for each month. hint
– use AutoSum. I will be
checking for formulas. (12 points)
9.
A cell
entitled Expenses. (1 point)
10.
At least
4 different sources of expenses. (4 points)
11.
For each
month, you must have some indication of expenses shown. (12 points)
12.
A cell
entitled Total Expenses. (1 point)
13.
A range
of cells that is the calculation for the Total Expenses that is the sum of all expenses for each month. hint
– use AutoSum. Once
again, I will be checking formulas. (12 points)
14.
A cell
entitled Balance. (1 point)
15.
A range
of cells that is the calculation for the Balance that is the result of subtracting the amount in your Total
Expenses column from the amount in your Total
Income column for each month. (12
points)
16.
A cell
entitled Running Balance.(1 point)
17.
A range
of cells that is the calculation of your Balance added to the number from the previous month’s Running
Balance for each month. Make sure your Running
Balance formula for the month of January equals the amount of your Balance
from the month of January.(24 points)
18.
A cell
entitled Year Total. (1 point)
19.
For each
source of income, you will need to have a calculation for the entire year. hint
– use AutoSum. (2 points for each source of income shown - no more
than 8 sources total)
20.
You must
also have a calculation for the full year’s Total Income. hint
– use AutoSum. (2 points)
21.
For each
category of expenses, you will need to have a calculation for the entire year. hint – use AutoSum. (2 points for each category of expense
shown - no more than 8 sources total)
22.
You must
also have a calculation for the full year’s Total Expenses. hint
– use AutoSum. (2 points)
23.
A cell
entitled Final Balance. (1 point)
24.
A
calculation that is the result of subtracting the final amount from the year’s
Total Expenses from the year’s Total
Income. (10 points)
25.
The final
amount in your Running Balance in December should match the final amount in your
Final Balance. (O24 and N25 in my example) If it doesn’t, you messed up
somewhere. (10 points)
26.
All
numbers should have a currency format showing 2 digits after the decimal.
You’ll need to select all the cells that have numbers and choose Cells
under Format or just click on the dollar sign on you tool bar. (you’ll
have to select all the cells first) (10 points)
27.
Don’t
make your budget spreadsheet have all the same numbers as mine. (That’s called
plagiarism and that would be considered cheating.)
28.
Also, if
you use the same sources of income or categories of expense that I use, don’t
place them in the same order. That’s also cheating. I realize my choices for
income are pretty commonplace, but your choices for expenses should be
different. Remember, I give points for creativity. This budget doesn’t have to
be for you in the year 2008. You could be a multi-millionaire. (hint...hint)