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

Operating cycle and financial management, discuss the applicability of oper...

discuss the applicability of operating cycle and any other financial management in poultry business in uganda

Option-adjusted spread, The Option-Adjusted Spread (OAS) is a measu...

The Option-Adjusted Spread (OAS) is a measure of the yield spread (expressed in basis points) which can be used to convert differences between the values an

Implementing systems effectively, Implementing Systems Effectively: Muc...

Implementing Systems Effectively: Much of the accounting process has been taken over by office automation systems. Whereas once the vast majority of bookkeeping and reporting t

Define when u.s. dollar weakens in foreign exchange market, What does it me...

What does it mean when the U.S. dollar weakens in the foreign exchange market? While the U.S. dollar weakens in the foreign exchange market one U.S. dollar buys smaller amount un

Tests in investments, Tests in Investments There are many rules that sp...

Tests in Investments There are many rules that specify how the past data of share prices can be used to obtain a clue regarding the future prices of shares. Such rules would be

APPLICABILITY OF OPERATING CYCLE, #questioDiscuss the applicability of an o...

#questioDiscuss the applicability of an operating cycle in the vegetable growing business n..

Gordon`s dividend capitalisation model , Considering the following informat...

Considering the following information, what is the price of the share as per Gordon’s Model? Details of the Company Net sales Rs.120 lakhs Net profit margin 12.5% Outstandi

Cash discount, I am trying to solve this formula: 2/10, net 30. In the bo...

I am trying to solve this formula: 2/10, net 30. In the book I am reading they have 2% x 360 ------- ------ = 2.04% x 18=36.72% 100-2% (30-10) I want to know how the

Common-size statement value, A firm has sales of $6,500, net income of $500...

A firm has sales of $6,500, net income of $500, total assets of $12,000, and total equity of $700. Interest expense is $1000. What will be the common-size statement value of the in

Long-term debt finance, The approaches that Blin could accept regarding the...

The approaches that Blin could accept regarding the relative proportions of long- and short-term finance to meet its working capital needs have been described as moderate, conserva

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