Budget practice exercises
The formulas behind a household budget: what is left after the bills, yearly bills turned into monthly amounts, spending per category, a running balance and how many months it takes to save up for something.
- 1What is left after the billsIn B9, work out how much is left each month after the fixed bills: the income in B2 minus all the bills in B3:B8. Subtract one SUM instead of each bill on its own.
- 2Yearly and quarterly bills per monthPremiumIn D2, turn the amount in B2 into a monthly amount: divide yearly bills by 12 and quarterly bills by 3, and keep monthly bills as they are. Put one IF inside another.
- 3Spending per category with SUMIFPremiumIn F2, total the amounts for the category in E2 with SUMIF. Lock the two ranges with $, so the formula still covers the whole list when you fill it down to F4.
- 4A running balancePremiumIn D3, work out the balance after the paycheck: the balance in the row above plus what came in, minus what went out. Leave the references unlocked, so the formula works when you fill it down.
- 5Months to a savings goal with ROUNDUPPremiumIn D2, work out how many months it takes to save up for the vacation. Divide the price by the monthly savings and round up with ROUNDUP. Part of a month still means waiting a whole extra month.