Calculate Monthly & Planned Expenses
Balancing a budget requires that the students make decisions about how to spend their money. Have the students generate a list of monthly expenses that they expect to incur. They can use the list of expenses in the budget template as a starting point, but should also generate their own items and costs. Students should be prepared to cite their sources when assigning costs. The Internet is a useful tool for checking costs.
- Delete all values in the Amount column for both Monthly and Planned Expenses tables.
Determine your monthly expenses.
Students should research the costs for things like mortgages, car insurance, and utility bills.
- Click the Monthly Expenses table to select it.
Enter your expenses for the categories listed or modify the list.
If additional rows are needed, choose Table > Add Row Below.
Be sure to check that the Total Monthly Expenses formula calculates all costs.
- Click the Planned Expenses table to select it.
- Students should enter all additional expenses they anticipate incurring, leaving the vacation trip field empty.