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Calculate the Spending for Any Budget

Let’s say that you track your spending in a spreadsheet to help you manage your budget.

You list out each transaction and assign a budget category to each. This way, you can keep an accurate log of where all of your money is going.

So far, so good. But here’s the question. How do you quickly calculate the total spending for a specific budget category?

In this article, I will teach you how to do it!

The Setup

As I mentioned at the beginning of this article, your setup includes a list of transactions, each with an assigned budget category. So I imagine that the data in your spreadsheet looks something like this.

With your spending data setup like this, all that’s left is to designate a cell where you will select a budget category and another cell where you can view the total. Perhaps something like this.

Once you have your setup put together, you are ready to write your formula.

The Formula

Before writing the formula, I suggest you first type one of the budget categories into the cell designated to hold the selected budget category.

Once you’ve done that, select the cell to contain the calculated spending total and enter the following formula.

=SUMIF(B2:B8, E2, C2:C8)

This formula uses the SUMIF function to calculate the total spending for the specified budget category.

The first argument of the function references the range of cells containing the budget category for each transaction.

The second argument references the cell containing the specified budget category. This will be the criteria used to determine which transactions fall under the budget category.

Finally, the third argument references all of the cells that contain the spending amount values. This is the range that will be summed to give you the calculated total.

And now, whenever you enter a new budget category, the formula updates to give you the total spending for that specific category.

For more information on how the SUM function works, check out the article below.

How to Use SUMIF

See It In Action

Here is a great example of this method being used to calculate the total spending for a specified budget.

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