What formula would you use to calculate the average of your monthly expenses in Excel?

Question

What formula would you use to calculate the average of your monthly expenses in Excel?

5 Answers

Answer Question

Answer 1

The quick and simple answer to this question would be to calculate how much your total expenses amount to for the month are and divide it by the total number of individual expenses you have, giving you the average value of each expense over the whole month. Excel will calculate this for you, the formula for which would be =average([Cell1]:[Cell2])

But, I suspect this is not exactly the answer you are looking for ...

There are many free tools available on the internet for recording and managing your budget each month and most of them are Excel spreadsheet-based, enabling you to easily input monthly expenditures, leaving the spreadsheet to calculate the bottom line for you.

Having completed a review of the many tools available, financial expert, Dave Ramsey’s range of free budgeting spreadsheets details a comprehensive log of monthly expenditure in an easy to use format. Visit his site and download the range of free tools. www.daveramsey.com/tools/budget-forms/

Answer 2

Mr. Captoon Caricature answered

Just add up the total expenses of the month, and divide by the number of days in the month.

Answer 3

Add you all expenses and divide by no of qty. Also there is AVG function in excel.

Answer 4

Say your monthly figure is in C1. In D1 put
=C1*12

and drag this formula down col C as required.

Answer 5

The best way to figure out this problem is to take a piece of paper - normal size - and draw the letter 'T' across the top and down the middle of the page. On the left side of the page write down all your expenses, water and the amount, electricity and the amount, etc... Now, add them all up on the left side and tally at the bottom of the page. On the right side of the T write down all of your sources of income and again, tally at the bottom. Take the total expenditure away from the total income, and you will have you answer.