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In this video tutorial, the presenter explains how to create an automated budget template that updates based on user inputs in a tracker. The template will display the remaining funds in each category and adjust according to the selected month from a drop-down list. The entire process is designed to be completed in under 15 minutes. The tutorial begins with a request for viewers to subscribe and enable notifications for future videos, which are released weekly. The first step involves creating a transaction table, where the presenter outlines the necessary headers: month, date, transaction description, category, and income value.