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Essay Available:
Pages:
2 pages/β‰ˆ550 words
Sources:
Check Instructions
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Coursework
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 11.23
Topic:

Personal Finance Project

Coursework Instructions:

Part 1: Create an annual pro forma postgraduation budget in Excel. Estimate income that you will earn from your job after graduation, taxes, and 5-10 expenses that you will incur (e.g., rent, student loan payments, cell phone, car payment, insurance, food, utilities).
Evaluate your budget, covering the topics below in a Word document (250-500 words).
1. Am I living within my means? Does my income cover my expenses? Do I have enough income to pay my bills?
2. Am I financially independent from my family?
3. Do I have an emergency fund?
4. Am I saving enough for retirement in my budgets/planning?
5. Do I have enough to start giving financially to others?
Part 2: Following your written budget evaluation, include with your Word document a reflection of 200-300 words responding to the following questions:
How will you save for your future? What types of investment products could help you reach your goals? How will you/do you research investment opportunities?
In the future, how will you manage your credit? How will you determine when/how to borrow?
Submit your budget in Excel along with the evaluation of your budget and reflection of it in Word.

Coursework Sample Content Preview:

Personal Finance Project
Student’s Name
Institution affiliation
Course number/name
Instructor name
Due date
Personal Finance Project
Am I living within my means? Does my income cover my expenses? Do I have enough income to pay my bills?
The budget proforma is for a finance manager. I am living within my means because the income earned is greater than the expenses in total. Therefore, there is some money remaining after reducing all the necessary expenses are covered. Also, the estimated expenses are more than the actual amount of money spent, thus enabling one to leave within their means. The income covers all the expenses, including food, utilities, rent, savings, car insurance, and student loans. There is also enough money to pay for monthly bills like utilities, rent, and food.
Am I financially independent from my family?
One is financially independent of their family as they have enough income that can be used to pay for all their monthly expenses without being dependent on another individual, especially family members. In other words, the person is financially independent because all their needs are satisfied by their income. On the other hand, having a budget that gives a clear view of the income and expenses and strategies that direct them to their financial goals also contributes to financial independence.
Do I have an emergency fund?
The person has emergency funds saved under the budget proforma; the individual keeps up to 20% of their budget as emergency cash. The emergency fund is the money set aside to pay for large unexpected expenses and events.
 Am I saving enough for retirement in my budgets/planning?
The person contributes a total of $ 1500 per month towards retirement, which is enough money to cater for the individual during retirement. Additionally, when the person continues saving the same amount a whole year around and every year, they will have enough money by retiring.
Do I have enough to start giving financially to others?
I do not have enough income to start g...
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