Personal budget project, 15 points) You need to develop a personal budget. Try to be as, Financial Management

Personal budget project, Financial Management

Assignment Help:

15 points)
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.

2. 20 points
Using as many time lines as you need forecast all your projected savings(investments) to get each investments future value. You will have to determine your PV, I/y, N, PMT then calc FV

If you don’t have any idea on the I/y you could use 5 or 6% to be conservative. N depends on your current age and when you think you will retire.

Savings
401k or (403B) whichever you use
IRA’s….
Home Ect…….

3. 15 points
Once you add up all the future values from step 2 above, and do a time line to determine how much you will be able to spend each year assuming you are going to spend all your money. I.e. your future value will be 0. To calculate N, you have to make a lot of assumptions. For example, if you are planning on retiring at age 65 and think (hope) you will life until you are 90 (25 years) your N will be 25.

4. 25 points
Once you are completed with the three sections above write a page or two on what you learned from this project. This is open ended but I expect at a minimum of 1 page as a write up.

• APA formatting required for all outside sources.

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages

Personal budget project, Financial Management

Related Discussions:- Personal budget project

Coefficient of variation evaluating risk of capital budget, Why is the coef...

Explain the various types of l/c, Question 1 Describe briefly the various ...

Estimating the market value of a share, Estimating the market value of a sh...

Effective annual rate, You are interested in saving money for your first ho...

Accumulate the money necessary for your retirement, You plan to retire in 3...

#title.operating cycle., discuss the applicability of an operation cycle in...

State the analytical procedures at the planning stage, State the Analytical...

Under armour finance, I need a paper on the financial status of the company...

What is nvp and cost of equity , 1. A standard arrangement for the orderly ...

Expalin u.s. dollar weakens in the foreign exchange market, What does it me...

Write Your Message!

Featured Services

Online Tutoring

Project Development

Exam Preparation

Course Help

Assignment Help

Popular Subjects

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT