Now let's talk about the Summary tab on what the Summary tab represents. So the Summary tab is basically a summary of everything that you put in, on the input tab. So in the input tab, you are including all of your back, of course, your budgeted and you included all of your actual expenses on a monthly basis. Now, every single area has a section. So as you remember, when when we were inputting data on the input tab, we had the housing section, which included a plethora of bills, we had transportation, which includes numerous number of options. Same thing with insurance, it includes numerous audit of numerous choice of options.

So when you are inputting information in the input data tab, you're looking at the detail right so it's can be a bit challenging to sort of see at a glance how you did with every single section. So the Summary tab breaks that down for you. So for housing, it summarizes everything that you inputted in the input data tabs, all this information on to housing is summarized into one single line. So it shows you how much you either what your budget was or what your actual was just in one summarized line. Okay. That's the purpose of the Summary tab.

So what do we need to do? What do we need to know about the Summary tab? So depending upon what month you want to look at, you are going to click on the drop down arrow and choose a month. So let's say we want to look at January what occurred in January. We will click on January and we're going to see in January, what our budgeted expenses and income, which, as I mentioned earlier, is usually going to be fixed. But then we will see what we actually did what we actually spent for whatever month we picked up here, we'll see all of the actuals.

And then we'll also see the difference, okay. And then also in the Summary tab, we also have year to date. So we're on this side, we're looking at everything by the month. So over here, we're looking at everything on a year to date basis. So if you choose January, all you're going to see is the month of January, and then of course the year to date will be through January 31. Now let's change this to February.

Okay, so when we change the month to February, as you can see all of the information on the actual changed, and then also everything on the budgeted side also changed because now We're looking at information for the month of January, but we're looking at year to date, which is going to include January and February. Okay? Same thing if we, if we had information for the for the for the subsequent months, it will be the same thing. So when we get down to December, which of course, there's no data for that, but when we get down to December, you would see all of December information on this side, and then you will see year to date to all of your income, what you budgeted for the for the month for the year that you're in, what you actually spent for the year that you're in, and the difference for the year that you're in, you would see all on this side.

So now let's go back to February, which is what we just inputted in the input data screen. Let's take that back to January rather to February. Okay, so what is this summary telling us is telling us that we budgeted in February, our budgeted expense, our our budget for our net income or net pay was $5,000. However, we actually brought in 50 $500. So whenever the difference is in black for income purposes, that means that we were over budget, which means we made more than we anticipated. So we thought we were going to make 5000.

We made 5500, meaning that the difference of $500 was more than what we anticipated because it's in black. Whenever you see anything on the red side on the income, that means that we underperformed, that means that we made less money than we anticipated. We did not make as much as we thought we're going to make. So for hair, Susan thought she was going to bring in 1500 dollars, but she only brought In 1000, so there's a difference of $500. So, you know, she can use this information to either investigate to see exactly what happens during that month, why she made less why she made more, whatever reason she, whatever reason, or rather, whatever the reason was that she made more, she may want to try to duplicate that or to try to improve on that. When it comes to making less.

She wants to see Well, why did I Why did I make less? What can I do differently to either maintain my budget or make more than of course the rental property, there was no difference because the rental property the budgeted amount was 1200. dollars. She actually brought in 1200 dollars. So she's, she's doing good, she's doing good right here. And then you would have the difference. Total.

In this case, the difference the difference total is zero because she she overperformed by $500, but then underperformed by $500, which of course leaves zero and then we When it comes to her budget, she actually, when it comes to her budget, she actually met her budget. Because her budget was 70 $700. She met her budget. As you can see, her actual is 70 770 $700. But even though she underperformed in the hair department, she overperformed in the net pay, and therefore she was able to equalize her actual to her budgeted. Now, that's why it's really important to have this stuff in front of you.

So you can you can see exactly what's going on. Because otherwise, excuse me, all this information is swirling around in your head. And you know what you brought in, but you have no way of analyzing that information to make it make sense. So when you look at the information on a spreadsheet, or let's say you write it down, however you need to do whatever you need to do to keep track and to look at it What you need to make sure you do is analyze the information to see, okay, what happened? Why did it happen? And how did it actually affect my budget?

Now let's go to expenses. For expenses for housing, she anticipated that she was going she was going to only spend 1959, but she spent 2066 a difference of $107. So in the expense section whenever something whenever the difference is in red, okay, that means that she spent more than she was suspect was supposed to spend or rather more than she anticipated. Okay, so you want to look out for anything that's in red, anything that's in red is basically a red flag, you want to further investigate what happened. Now for transportation. She spent less than she anticipated for transportation.

She anticipated spending 1700 dollars which is quite a bit I'm not quite sure why it's so high, but she only spent 447. Now this is a bit this, this is a little off. So when you look at transportation, the anticipation is 1700 dollars and she spent 444. What you want to do is go back and see, okay, well what happened? Because there has to be an explanation for that, because that that number is a bit off. So what happened here?

And the anticipation Okay, so the maintainence, that's what it was. She anticipated that she was going to spend 1200 dollars a month on Well, that's a bit high. As a matter of fact, let's change that to let's change that to $120 a month. Yeah, let's do that. That's a lot. And let's just take 1200 dollars, and let's divide 1200 dollars by 12.

To see see 1200 divided by 12. That's $100. So let's just change this to $100. And I think that's what I actually meant to do. Let's change that to $100 rather than 1200. So that that's that was really a bit off.

So now you can see that the budgeted versus actual is a little bit more reasonable. So she budgeted spending $607. Rather, she spent 444. So she actually saved 150. So she spent $160 less than she anticipated. And that's another thing when you have these things written down in front of you, if something looks off, it's so much easier to see.

Okay, well, this doesn't look right. And you can go back and do some investigation and some research to find out why the difference, okay, for insurance insurance was the same. So basically, you can see that for the month of February, Susan, Susan's budget was 440 $434,446. But she only spent $4,393 for a difference of $53, which means that she spent $53 less than what she anticipated. You Now let's look at this year to date. So year to date, that would include January and February.

So year to date, the budget was $15,400. Susan actually brought in year to date $15,300, which means that year to date she brought in $100 less than what she anticipated. Well, you know, that's not necessarily a great thing. But it's not necessarily a bad thing, because $100 is not that is not that much of a difference. But still, she may want to improve on that. He may say, Okay, I think I would like to improve on that.

And rather than having I'd rather be even, or have brought in more, I don't want to bring in less so then she can start to plan around that and say, she can make plans to make sure that moving forward, that there is no difference or the difference is on the positive side rather on rather than on the negative side. Now Year to date, which includes only January and February, she budgeted her her budgeted expenses were $8,892. Well, in all actuality, she spent $8,159. But this is wonderful. That means that she actually spent, she actually saved $733. So she spent $733 less than what she thought she was going to spend.

So that's wonderful. Now, that's how you use the summary spreadsheet. You use a summary spreadsheets to look at all of your data inputs, in a more concise view. That way you can look at it and you can analyze what happened, what was supposed to happen and what you need to change what happened or what didn't happen. Okay?