I’m working with customer spending data and need help creating a formula. Each customer has a monthly budget and makes purchases every day. I want to track how much they can spend per day for the rest of the month.
Basically I need a formula that will:
- Calculate total money spent so far this month
- Take that amount away from their monthly budget
- Split the remaining budget across the days left in the month
This way I can see if they’re on track or need to adjust their daily spending. Has anyone built something similar? What’s the best approach for this kind of budget tracking calculation?
I’ve done this b4. Try this formula: =((budget-sumif(date_range,“>=”&date(year,month,1),expense_range))/days(eomonth(today(),0),today())). Just chnge the ranges for your data columns. Works good for keeping track of daily spends!
Calculating remaining daily budget allocation can indeed be straightforward. You can use the formula: (Monthly Budget - Total Amount Spent) / Remaining Days in the Month. First, to find out how much has been spent, leverage the SUM function along with date filters to focus on the current month. You can use functions like EOMONTH to determine the last day of the month and figure out the days left. Make sure to adjust for any overspending by including logic to return a zero or warning for negative budget calculations. This way, you ensure that your daily spending limit is both realistic and manageable.
Had the same issue with departmental budgets at work. Here’s what worked for me: don’t just divide remaining budget by remaining days - multiply by 0.9 to build in a safety margin since spending never stays perfectly linear. Also, try NETWORKDAYS instead of regular day counts if you’re tracking business expenses. Weekends usually have different spending patterns. One more trick - I compare my calculated daily allowance against a rolling average from previous months. Gives you a reality check on whether that remaining daily budget is actually doable based on how you’ve spent before.