Develop a personal budget using the main components of wise money management

Develop a personal budget using the main components of wise money management

Assignment Instructions:

Using the excel file attachment, Personal Monthly Budget, answer the following questions.

  1. Does your income exceed your expenses?
    • If so, how much are you saving each month and is it enough? How do you know it is enough?
    • If not, what are your goals for addressing the deficit (i.e. job change, cut back on expenses, etc)
  2. How is your short-term savings—if you had an emergency, would you have enough in savings to handle the situation?
  3. Why is a savings account important?How much do you need to have in savings?What are some tips to accumulating savings?

Write a 1-2 page paper that addresses these questions after completing your budget worksheet.

Use the attached APA_6th_Edition_Template template provided. Follow APA format, including a title page, introduction, conclusion, citations, and two scholarly references (not Wikipedia or Investopedia). See the attached PPT file. Turnitin report of no more than 20% similarity index is required.


Monthly Bill Organizer
Average Income
Monthly Income Monthly
Total Income $2,225.00
Secured Debt Amount Due
Mortgage $720.18
Tractor Loan $270.62
Auto Loan $205.00
Total Secured Debt $1,195.80
Unsecured Debt Amount Due
PayPal $44.00
Total Unsecured Debt $44.00
Utilities/Necessities Amount Due
Electric $150.00
Total Utilities $150.00
Misc. Amount Due
NetFlix $13.00
Internet $47.27
Cell Phone $40.70
Security $14.99
Groceries $160.00
LF After School $156.00
Fuel $60.00
Misc. $160.00
Total Misc. $651.96
Total Amounts
Total Amount of Bills Paid $2,041.76
Cash After Bills Paid $183.24



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