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7. Visualize the Data and Make Decisions

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Transcript

In this video, you will add a simple pie chart to your spreadsheet to help you visualize expenditures from the fictitious bank account.

Then, you will make decisions about the expenditures and identify at least one area where you could hypothetically save more money.

You have already created a table in your summary sheet that shows the categories you named and the amount of money you spent in each category.

To create a pie chart from this table, simply select the data in the summary sheet.

Select “Insert” and “Chart.”

The Chart Editor box appears.

Select the pie chart and insert the chart into your spreadsheet.

Select the chart to move and resize it so that it does not cover any data.

Experiment with the chart options to make it more legible and to suit your tastes.

Add a title to the chart if you’d like.

You can change the colors and fonts, or even the chart type.

Next, highlight the rows with essential expenses that are fixed and cannot be changed.

For example, your rent is a fixed expense that is absolutely necessary.

If you don’t pay rent, you won’t have a place to live!

Select the row that contains rent and change the fill color to something that makes this expense stand out.

“Utilities” are another category of essential expense.

Change the fill color of rows you labeled “Utilities.”

Identify any other expenses that are absolutely essential.

What seems like an essential expense to you may not be the same for your neighbor.

That’s ok.

Now you can tell at a glance how you have been spending your money.

Examine your spreadsheet and chart for a few minutes.

Pretend this is your bank account.

What did you spend the most money on?

Check the “Balance” total.

How much money did you have left over after all your expenses were paid?

What would you do with that money?

Next, imagine that you want to save an extra 25 dollars a month for a television, tablet, guitar, or some other big purchase.

Identify 2 or 3 ways you could change your spending to save more money.

Consider also how these changes would alter your other expenses.

For example, you might decide to eat at fewer restaurants.

But you still have to eat!

So, decreasing your spending at restaurants might also increase your spending at the grocery store.

When you have examined your monthly budget and identified areas where you could save, move on to the next page to reflect on the decision you made.

Now, it’s your turn Highlight the categories and their totals in the summary table and insert a pie chart.

Experiment with chart options.

Change the fill color in spreadsheet rows for items that are essential.

Evaluate your budget and make some decisions.

For example, what did you spend the most money on?

How much money did you have left over after all your expenses were paid?

What would you do with that money?

How could you save another 25 dollars a month?

And how do changes in one category affect other spending categories?

Then, move on to the next page to reflect on your decisions.

Next
Instructions
  1. Highlight the categories and their totals in the summary table and insert a pie chart.
  2. Experiment with chart options.
  3. Change the fill color in spreadsheet rows for items that are essential.
  4. Open a new Google Doc and name it "Monthly Budget Evaluation."
  5. Write a paragraph evaluating:
    • What did you spend the most money on?
    • How much money did you have left over after all your expenses were paid?
    • What would you do with that money?
    • How would you save another 25 dollars a month?
    • How do changes in one category affect spending in other categories?