Homework: Impact of Economics on Daily Living
Skill(s) Being Assessed: Problem Solving
Criteria for Success: In this homework, you will:
I. Create three monthly budgets using Excel for a financial analysis.
II. Summarize the change in expenditures between budgets.
III. Show the findings of your personal financial analysis using appropriate graphs/charts in Excel.
IV. Explain how the chosen graphs/charts help someone to better understand the presented financial data better than other potential graphs/charts.
V. Discuss the results of financial analysis including overall progress towards saving goals, potential changes in budget that can be made in the future, possible economic/life impacts that may affect their budget in the coming year.
VI. Reflect on what your financial analysis might reasonably look like in a year taking into account income growth and inflation of consumer prices.
What is the value of doing this homework? One way to check your progress towards your financial goals is to conduct a personal financial analysis. This will help you see how well you have stayed on track with your finances over a period of time. Using technology can help you stay organized throughout your analysis, as well as help visualize financial data. Displaying the data visually will allow you to observe general trends in your personal finances and to communicate about them effectively.
For this homework you will be using Excel as your technology tool to analyze personal financial data and display that data visually. There are many other technologies available for personal or professional use that can be used for this type of analysis. The approach to learning and working with Excel software in this course is one you can apply to other technology tools in your life and career.
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.