In this video, you will categorize the data from the simulated bank account in your spreadsheet.
Categorizing helps you determine which costs you can change and which ones are fixed.
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.
This is a “Restaurant” expense.
“Haircut” is an “other” expense, and so on.
Classify each expenditure by typing the category name in each row.
Use any categories you like.
Just make sure that all of the debit charges fit into a category you create.
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 and summary tables for “Categories.”
Classify each of your expenditures in your data table.
Then, move on to the next video.