After studying Lesson 6-2, you will be able to:
- Identify purposes of a budget.
- Describe steps for preparing a budget.
- Describe characteristics of successful budgeting.
Assignment 6.2.1
- Obtain a copy of the notes handout.
- Read Lesson 6-2 on pages 399-404.
- As you read, utilize this presentation to help you fill in the missing parts on the handout.
Assignment 6.2.2
Assignment 6.2.3
- 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
- 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:
