Excelling at Excel

This summer I took some time to "sharpen my axe" by taking some Professor Teaches computer courses on how to operate Microsoft Windows 7, Outlook, Word, PowerPoint & Excel. Some of the content was easy but I learned a great deal too. I tend to glean only what I need to get by but this was an excellent opportunity to expand my practical knowledge of these programs that I use every day.

When I got to Excel I was fascinated with the formula possibilities and knew that if I didn't put some of these newly acquired skills into action, I would quickly forget. I decided to take our humble family budget and make it into a Microsoft Excel masterpiece. Very soon I was lost in the intricacies of formulas and multi page tables that would terrify the average self-described "free spirit".

Shawn arrived home and I pounced on him immediately.

"You got to see our new budget. You're going to love it!"

One eyebrow shot up and he looked suspicious. Later I sat him down and gave him a tour of our FOUR page budget workbook.

Here is a simplified description of what I created:

Page 1 "Monthly Budget"-It looks much the same as it did before but half way down it totals itself and then shows the difference from our monthly income that is calculated on page two. We then can go through some pre-defined categories to "spend" the leftover monthly income until our budget reaches zero as Dave Ramsey has taught us. The genius behind this budget is that the totals for each category are automatically sent to other tables on other pages. Any changes to this master budget will be reflected elsewhere. Mmwahhaa.

Page 2 "Monthly Income & Disbursement"-This page has four tables. Our income, monthly account transfers, monthly cash withdrawals, and bi-weekly cash withdrawals are all displayed. Remember the page 1 monthly budget? The category totals are reflected in these page 2 tables so that Shawn & I know exactly how much to transfer or withdraw. I'm just getting started!

Page 3 "Commission Worksheet"-This page is all about our children and their chores. They have certain daily duties that when performed, they are paid for. Sounds simple but have you ever tried to actually track, calculate and pay exactly what is owed? Not to mention that at this age we are already teaching them to give & save 10%. We find ourselves making change for the change we are giving them! No more! I designed a table for each of them that when each chore is checked off, it "gives" them a certain amount of money. This amount is automatically reflected at the bottom of their chore chart with the gross pay, tithe, savings, and net pay all calculated out. They can literally watch their commission grow with every job they do.

Of course, I had to take it a step further. We "budget" a maximum amount every month that our children can earn but let's face it, kids don't always do every chore. I programmed the actual gross pay amount to be displayed on the bi-weekly withdrawal table on page 2 so that the actual money earned is withdrawn and the remainder stays behind in the bank for mom & dad. Oh yeah, baby!

Page 4 "Withdrawal Denominations"-This page was just because my mind was in Excel overdrive and well, I couldn't stop myself. It's all fine and dandy to know how much money needed to be withdrawn from the bank and to have a bank that I can go to and withdraw exact amounts. How am I supposed to make sure that I get the right bills and change based on our envelope category amounts and the kid's chore commissions? This table brought in the amounts needed in cash for each category on a bi-weekly and monthly basis and allows me to break it down into the denominations needed. The table keeps a tally at the bottom and it has to match the totalled withdrawal amounts on page 2.

Needless to say folks, Shawn was dazzled. No, he actually looked stressed. Especially when I told him he could not make any changes, however insignificant to the budget without my supervision. These formulas are sensitive.

I'm still very proud of my insanely complicated budget workbook and it worked brilliantly when we put it to the test the first pay week. The kids are doing better with their chores and excited to see their small fortunes growing. I have the peace of mind that I will not need to know calculus on Thursday when it is time to go to the bank. In addition, when we stop at the store on the way home and my children ask if they can get paid, I will not only know how much they have coming to them but I will actually be able to give it to them in exact change. A little Excel formula madness now for some huge serenity of mind in the days to come.

Have I created a monster? I'll keep you posted!