Buzz
While numerous online platforms are available to help you manage your finances, there's still something timeless about using Excel. These shortcuts can make budgeting with spreadsheets a lot more efficient.
GOBankingRates presents eleven useful Excel shortcuts to enhance your budgeting. Here are some key takeaways.
Goal Seek is a powerful tool for forecasting budget scenarios. As GOBankingRates explains, it allows you to explore different “what-if” scenarios to better plan your finances.
For instance, you might use it to
determine the minimum mortgage
payment required to pay off a loan at a specific interest rate over a set period. This way, Goal Seek helps you make well-informed repayment decisions.
Concatenate allows you to merge multiple cell values into one. This way, you can view all the information in a single place:
For instance, you might have a column of expense items and another with due dates. With the concatenate function, you can merge the information from both columns into a single cell, displaying the item and its due date together.
VLOOKUP enables you to search and connect specific values in your data based on related information. According to Office, it’s similar to searching for a person’s name in a phone book to locate their number. Here’s an example of budgeting that GOBankingRates shares:
For instance, you might track your earnings for this year in one spreadsheet and for the previous year in another. If you wish to find out how much you earned in January both years, the VLOOKUP function can locate that data and input it where you need it.
GOBankingRates further explains these features and introduces other helpful functions. Be sure to read the complete article at the link below for more details.
Image captured by OTA Photos.
