For this exercise we are going to do simple budget, and track our budget compliance over the course of a 12 month period.

For this exercise we are going to do simple budget, and track our budget compliance over the course of a 12 month period. Although it is possible (and common) to track budget compliance on a month to month basisFor the starting budget $ amounts you use the following logic. Determine the yearly values and enter them into your budget. Don't forget to add the totals, and to determine the amount you are short/extra.Salary = $4,000 a month, Rent = $1200 a month,Car payment = $650 a month, Phone = $95 a month, Health Insurance = $250 a month, Food = $500 a month We are now going to add the following data for the monthly amounts in out spreadsheetSalary:  starting salary for the year is $4,000 a month. In June you get a 3% pay increase. And one time bonus $500 in OctoberRent: monthly rent per your lease is $1,200 a month, with a 5% increase in November.Car: car is under lease at a rate of $650 a month.Phone: month rate for your phone is $95 a month, but you incurred overage charges of $25 each in the months of April, August, and December.Health Insurance: Your monthly installments for health insurance are $250 a month.Food: Food expense tends to be more varied than the other expenses be captured. Use the follow table to enter your food expenses. Other: In the month of March you have a car repair bill of $750 and in August you took a $125 flight to visit your parents.