How to Manage Monthly Bills

Part of the Video Series How to Set a Budget

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Calculating Monthly Pay and Over Under in this free series of personal finance video from our professional Certified Public Accountant (CPA).

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How to Manage Monthly Bills
Okay we have completed the section on total monthly bills and we have talked about total other expenses. When you add those together, that is really another way of thinking that is that is your money going out. In this case, we have $5,851.97 going out. Now let's look at the money coming in and in this example I'm using monthly pay for John and Mary. All together that is $6,600 so the difference between the money coming in and the money going out are over/under is that they had more money coming in. That amount is $748.03. In some of the formulas that we use for this, this 748 is equal to E34-E30 and that is $6,600 and E34 minus 5,851.97 in cell E30. So in short, that is total monthly pay minus the total monthly expenses.

About the Expert

Expert: Tom Noah has been a Certified Public Accountant (CPA) for more than 27 years. In that time he has held positions at several companies as an accountant and as a director of financial planning. Read More