In this video, you will categorize the data from the simulated bank account in your spreadsheet.
Categorizing can help you determine which costs are fixed and which are variable.
It can also help you identify areas where you could spend less and save more.
Take a few minutes to think about how you might categorize your spending.
For example, “Gas” is a “Car” expense.
“Casa Mexicana” is a “Restaurant” expense.
“Haircut” is an “other” expense, and so on.
Classify each expenditure by typing the category name in each row.
This example uses: Rent
Shopping And car
Use any categories you like.
Just make sure that all of the debit charges fit into a category you create.
Next, create a “By Category” column in your summary table.
Once you have labeled all of your expenditures, move on to the next video to start calculating
your total expenditures in each category.
Now, it’s your turn
Add columns in your data table and summary table for “Categories.”
Classify each of your expenditures in your data table.
Then, move on to the next video.