Budget+Spreadsheet

You have now done all of the research required to complete the following spreadsheet. Use Excel to open and fill in the spreadsheet with the information on your page. Once you have completed filling in the spreadsheet, take a screen shot of it and put it on your page. You are almost finished this project!

To fill out the spreadsheet, assume that you are paid twice a month. Go back to your tax return. Take your adjusted gross income from line 4 of your tax return and subtract your tax from line 11 of the tax return. This is your yearly income after taxes. Divide that number by 12 for your monthly income. Divide your monthly income by 2 for your biweekly income. Enter that number in both the Income First Pay and Income Second Pay spots on the Final Project Budget Template.

Now go through each line of the template, entering the information you have been researching. Ideally, you want the balance a the bottom to be $0. This means that you have paid all of your bills, left some money out for spending/entertainment and put the remainder in your savings account. The sample budget shown here is completely fictional. It is just to give you an idea of what it should look like.