Hello, hello, hello day 3!

We’re so happy you keep pressing forward to financial health.

We promise that while some aspects of putting a budget together are challenging, you are strong enough to put it together.

Today is all about adding in another layer of categorizing.

On Day 2 you categorized by high-level category and today we are placing each of these categories in “needs” and “wants”, so here we go!

Day 3: Categorize Purchases, Part 2

Getting back into our Budget Template, we’re going to do some Excel magic, so watch closely:

  1. Add “Categories” as the header for the categories from yesterday.
  2. Select the entire column from the first column to the “Categories” column, so they are highlighted.
  3. On the top menu, click “Insert”
  4. The menu will change and you will see a “Pivot Table” option on the left-hand side of the menu–click it!
  5. A pop up will show, outlining the data, and click “ok”.
  6. Drop the “Categories” as the rows and “amounts” as the columns.  This will allow you to see your categories and amounts.

Next to each category, type out if it is a “need” or “want”, so you can have better insight into your necessary spending and discretionary spending.

Why does this matter?  To reach your financial goals, sometimes one category needs to be limited so another can have more allocated to it.

The last step for today is to update the “Budget Template” tab. First, input the “need” and “want” categories into the first budget page.  Then, put in the amounts into the respective columns.

 

Another successful day!  Snap a picture and post on Instagram or Facebook with the hashtag #TreatFinancial, so we can encourage and celebrate YOU along the way!


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