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In this video tutorial, the presenter explains how to create an automated budget template that updates based on data entered in a tracker and reflects available funds in each category, adjustable by month via a drop-down list. The process takes less than 15 minutes. Viewers are encouraged to subscribe for weekly updates and engage with the content by liking and commenting. The first step in the tutorial involves creating a table for entering transactions, which includes headers such as month, date, transaction description, transaction category, and income value.