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In this video tutorial, the presenter teaches viewers how to create an automated budget template that updates based on user input. The template will show remaining balances in various categories and adjust according to the selected month from a drop-down list. The entire process can be completed in less than 15 minutes. The video encourages viewers to subscribe for weekly updates and interact through likes and comments. To start, the first step involves creating a table for entering transactions, which includes headers for month, date, transaction description, transaction category, and income value.