User Account

All Pages

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.

Related Discussions:- Personal budget project

Cost of Capital, The Nu-Nu Brothers Inc. (NNBI) has the following capital s...

The Nu-Nu Brothers Inc. (NNBI) has the following capital structure, which it considers to be optional: Debt 25% Preferred Stock 15% Common Equity 60% NNBI''''s expected net income

Expalin investment intermediaries, Investment intermediaries An investm...

Investment intermediaries An investment intermediary includes finance companies, mutual funds, investment banks and securities firms.

Explain the divestment of company re-organisations, Divestment of company r...

Divestment of company re-organisations Adisinvestment or divestment is selling part of the business or subsidiary to another third party. Reasons and features for divestme

Net present value of of the investment, Air Manchester (AM) is a new ...

Air Manchester (AM) is a new airplane manufacturer. It is considering investing in a software package, e.g. SAS, which would make its daily operations more efficient

Explain the purchasing power parity, Explain the purchasing power parity, b...

Explain the purchasing power parity, both of the absolute and relative versions. What causes the deviations from the purchasing power parity? Answer:  The absolute version of p

Explain the four fundamental rights of ownership, Explain the four fundamen...

Explain the four fundamental rights of ownership A shareholder, by virtue of being an owner, is generally entitled to four fundamental rights of ownership: 1. Claim on a sha

What can financial institution often do for deficit econmic, What can a fin...

What can a financial institution often do for a deficit economic unit (DEU) that it would have difficulty doing for itself if the DEU were to deal directly with an SEU? SEUs us

What do disclaimer of opinion, Disclaimer of Opinion - Statement by an AUDI...

Disclaimer of Opinion - Statement by an AUDITOR indicating inability to express an opinion on the fairness of FINANCIAL STATEMENTS provided and reason for the inability. The audito

Hedge against this foreign currency exposure, Question: Part A: Just...

Question: Part A: Justify and criticize the usual assumption made in Financial Management literature that the objective of a firm is to maximize the wealth of its sharehol

Hedging, how does "x" company hegde itself? the company name will be shared...

how does "x" company hegde itself? the company name will be shared later.

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd