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In this video tutorial, the host explains how to create a budget template that automates calculations based on user input. The template will display remaining funds in each category and will update according to the selected month from a drop-down menu. The tutorial promises to guide viewers through the process in under 15 minutes. The host encourages viewers to subscribe and enable notifications to stay updated with weekly content. The first step includes creating a transaction table with headers such as month, date, transaction description, category, and income value.