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.
- 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)
- How is your short-term savings—if you had an emergency, would you have enough in savings to handle the situation?
- 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.
Sheet1
| 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 |