- The total income budgeted is $2,200, and the actual income is $2,600.
- Total bills budgeted and actual are both $1,295.
- Total variable expenses budgeted are $625, while actual spending is $640.
- Total savings budgeted are $115, and actual savings are $250.
- Debt (credit card) budgeted and actual are both $100.
- Available to budget is $2,200 (total income), available to spend is $2,600 (actual income minus debt), and left to spend is $315 (available to spend minus total bills, variable expenses, and savings).
- The pie chart shows that bills account for 61% of the budget, variable expenses for 29%, savings for 5%, and debt for 5%.
- The bar chart compares budgeted versus actual amounts for bills, variable expenses, savings, and debt, showing that actual spending exceeded the budget in variable expenses and savings but matched in bills and debt.
Parent Tip: Review the logic above to help your child master the concept of free monthly budget worksheet excel.
