Read the instructions carefully:
Personal Budget project will require you to examine cash inflows and outflows as well as develop a retirement plan for your household. Each section provides clear direction. Please review grading rubric for further detail on grading expectations.
You are to submit both a written paper as well as an Excel model to support your findings. You are not required to repeat excel calculation in the paper but rather use it as a reference in the paper. Format is important. Excel models need to be well thought out with appropriate detail for the reader to understand independent of the written paper.
Please note that Part 1 is due in Week 2 and Parts 2 and 3 are due in Week 4. You must submit the assignments in the correct assignment folders for grading.
Week 2 Part 1 (must be submitted via Excel)
Personal Budget
You need to develop a personal budget. Try to be as realistic as possible. If you are going to school and not working then do some research to find out what salary you will be making when you graduate. If you are working full time you can use your income now or an estimated amount assuming you will be making more money when you graduate.
For Example:
Budget Actual
Gross Monthly Pay
Total est deductions
Net Pay
Rent/Mortgage
Utility - Electric
Utility - Gas
Utility - Water
Cable/Internet
Phone/Cell
.
.
.
Total Expense
Total savings
Take your total savings and multiply by 12 for 12 months. This is your estimated saving (payment) per year. (If you want to do a more elaborate budget you can).
To make this budget useful do this in excel so you can actually use it.
Note: You can do your budget however you want as long as it is clear and understandable to the reader (me) and you.