11. In the last part we set up our budget amounts. So each month, before we can spend, we take out a percentage of our money and give it to our local church. In our budget we have two income spots, income before tithe and income after tithe. Income after tithe is what we will use to cover our expenses each month. If you don't go to church you can skip the tithe line. After putting in budget amounts I add formulas to total up the income and expenses. In the Before Tithe section I use the formula: =SUM() And in the parentheses I highlight the cells for income. In this example the formula looks like =SUM(B4:B5)
12. Next I use the formula =SUM(B4:B5)*.10 in the tithe category to show that we are taking 10 percent out of our income to give to the church.
13. The next formula simply subtracts the tithe line from the income before tithe line. You subtract by typing the formula =B24-B25
14. Next on the Total Expenses line you want to use the same formula as Step 11 except this time use it to total the expenses. =SUM(B8:B22)
15. Now after we have figured out the total income and expenses we add in some other formulas below those. The first we add is cashflow, this line shows us if we spent more than we made. We always want this line to be a zero or a positive number. This formula subtracts total expenses from total income after tithe. =B26-B27
16. Now in our example we have a negative number on that line because we didn't account for giving a tithe. So if you have that in your budget as well, now is the part where you might feel the sacrifice of tithing (which is a good thing). You'll need to adjust your budget amounts so that line equals zero. You want every dollar to be accounted for so don't make it a positive number either. It will hopefully be a positive amount in the monthly sections but this is still the budgeted portion of the spreadsheet.
17. Next Josh and I always add a line that subtracts budgeted income from actual income. We use this line to tell us if we made more than we thought and then we use that amount to make a contribution to some of our goals. In this example we'll use the extra money to go towards an emergency fund, which is the first step of Dave Ramsey's 7 Baby Steps for Getting out of Debt . The formula used here is =B24-$B$24 Use the dollar sign to make that second cell permanent so that when we copy this formula into the monthly totals, it will stay the same for each cell. If you don't, it will make the formulas inaccurate in later steps.
18. Next we make line to know if we spent less than we thought. This was a line we made just to remind us to keep that amount in our bank account as roll over for the next month. This subtracts actual from budgeted. The first cell in this formula will be the permanent one. =$B$27-B27
19. 2 more steps for this part! After this I add a tithe tracker so that we make sure we give what we're committed to giving and this year we're going to try our best to keep up with it each week. It's not too difficult to make. I label the start of it Tithe Tracker and the cell to the right has a formula that links this cell and the tithe cell.
20. Then in the leftover cell I create a formula that subtracts each weeks contribution from the tithe amount. =B35-SUM(B36:B40)
I hope this part was well explained part of this might make more sense as week keep going. On to Part 3!
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