Day 31

After studying Lesson 6-2, you will be able to:

1. Identify purposes of a budget.
2. Describe steps for preparing a budget.
3. Describe characteristics of successful budgeting.

Assignment 6.2.1

1. Obtain a copy of the notes handout.
2. Read Lesson 6-2 on pages 399-404.
3. As you read, utilize this presentation to help you fill in the missing parts on the handout.

Assignment 6.2.2

1. Lesson 6-2 Assessment

Assignment 6.2.3

1. Mary and Fred James budgeted $340 a month for groceries.  During the month, they spent the following:
   • Week 1 – $87
   • Week 2 – $93
   • Week 3 – $38
   • Week 4 – $61
   • Week 5 – $52
2. Create a Google Sheet titled Groceries-(Your Initials) and place it in your Lesson 6 folder.  In your spreadsheet, create a table that organizes Mary and Fred’s shopping totals correlated with the week they purchased them. 
   • In cell A1, type Week. 
   • In cell B1, type Purchased. 
   • In column A, type the weeks listed above. 
   • In column B, type the corresponding dollar amount for those weeks listed above. 
   • Then create a SUM function that adds all the purchases up. In cell B7, type the following:  =SUM(B2:B6) then click Enter on your keyboard.  Your total should be $331.00.
   • In cell A8, type Budgeted.
   • In cell B8, type $340.
   • In cell B9, use a difference formula (type in cell =B8-B7)that finds whether there was a surplus or deficit based on the $340 budgeted amount.  If the difference is a surplus, fill the cell with a green background color.  If the difference is a deficit, fill the cell with a red background color.
   • Select the range B2:B9.  Change the number format on the toolbar to Format as currency by clicking the $.
   • When you are finished, your spreadsheet should look like this: