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How to calculate average monthly spend from unpredictable dates?

  1. #1
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    Question How to calculate average monthly spend from unpredictable dates?

    Hi,

    I don't use Excel much so apologies if this is an obvious answer.. I have a sheet for how much I spend on fuel in my car.. I have a cell for the date and a cell for the cost but I'd like to calculate how much, on average, I spend per month.

    Example

    24/1/15 40
    15/2/15 28
    26/2/15 30
    11/3/15 22

    As you can see, there are two dates in the above example which are in february so I would need to work out the mean for each month first, then the mean of those averages.. Any ideas??

    Thank you!!

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    Forum Expert shukla.ankur281190's Avatar
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    Re: How to calculate average monthly spend from unpredictable dates?

    Hi,

    Welcome to forum.

    You can use =AVERAGEIFS($B$3:$B$6,$A$3:$A$6,">="&E2,$A$3:$A$6,"<="&F2)

    Formula: copy to clipboard
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    Please check the attached file.
    Attached Files Attached Files
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  3. #3
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    Re: How to calculate average monthly spend from unpredictable dates?

    Hi,

    Sorry I've taken so long to get back to you - I've moved house and all sorts since then.. Thanks - this calculates the average spend per transaction that month, but then how do I make it calculate the average per month over say a year? Sorry if I didn't explain well the first time.

    I'd like to be able to enter how much is spent on which day and then for excel to add that into a monthly average before averaging the whole data (say A2:A100) to find out the monthly average over the whole term.

    Hope that makes sense!

    Thanks

  4. #4
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    Re: How to calculate average monthly spend from unpredictable dates?

    Sounds like a situation where a pivot table would work. Here I have added a pivot table to shukla.ankur281190's attachment, so that you can see if does what you want.
    Copy of Averageifs-1.xlsx
    Let me know if you have any questions.
    Consider taking the time to add to the reputation of everybody that has taken the time to respond to your query.

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