Using pivot tables to analyze income and expenses


In today’s modern day life when one have to spend for each and every item with lots of money people often tend to forget where they had spent the money and the need to track their expenses often emerge when they run out of cash. Tracking money should be one of the most important part of one’s lifestyle as we only get our salary once a  month while we have to spend it judiciously  for the whole month. Tracking income and expense however can be a very cumbersome task if one decides to go through it manually. That’s why people often try to run away from such difficult task. However , with the advancement in technology and soft wares  today we have excel software which ease our work to save and access lots of data with simple steps.one of the very important feature of advance excel is pivot tables.

Pivot table serves as a very powerful tool to summarize cumbersome data in a way that it can be accessed with ease. It enables the user to organize the data in form of table which is much easy to understand than the whole bulk of information mixed together. Pivot tables are very commonly used for analyzing income and expenses of a person, which makes even those people attracted towards learning, excel who do not belong to the field of data analysis and interpretation. One has to simply include the data in the spreadsheet and then create categories for their various kinds of expenses and create a pivot table which will specify all their expenses and income.

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