Category: Personal Finance

This assignment has two parts. In part 1, you will analyze personal finance data based on the scenario described above. You’ll use your problem solving and agility skills to balance three monthly budgets, and you’ll use your technology skill to graph the spending allocations in each of them. Finally, you’ll sharpen all three skills as you calculate and graph the progress you’re making toward your original savings goal.
In part 2, you will answer reflection questions about the decisions you made, identify how to create more savings opportunities, and make predictions about life and economic impacts that could affect the future of your plan.
For this assignment, you will:
Create three monthly budgets and perform a personal financial analysis using Microsoft Excel.
Summarize changes in expenditures between budgets.
Show the results of the analysis using appropriate graphs in Excel.
Explain how the graph types you have selected will help your financial advisor understand the data.
Discuss the results of the financial analysis including savings achievements, future budget modifications, and life impacts that could derail the budget in the coming year.
Reflect on what the analysis might reasonably look like in one year, accounting for economic factors such as inflation and the consumer price index.

SCENARIO: Imagine that you are in a position where you need to move – this could be because of a change in job, a need to modify your living arrangements, or something else. In addition to searching for different housing, you want to begin saving for a specific financial goal.
You will use the Assignment Template (an Excel file) to create a budget that satisfies the scenario. You’ll also answer reflection questions related to your goals.
ASSIGNMENT: This assignment has two parts. In part 1, you will create a financial plan based on the scenario described above. You’ll use your productivity skills to organize your plan, and you’ll use your problem solving skills to determine a reasonable rate of savings to reach your goals. Finally, you’ll apply your technology skills to ensure that your budget is balanced, and expenditures (like housing) don’t exceed your employment income.
In part 2, you will answer reflection questions about the decisions you made and the skills you leveraged while building your plan.
For this assignment, you will:
Create a budget for a financial plan using Microsoft Excel, ensuring that the information is organized, accurate, and complete.
Identify a personal savings goal and a time frame for reaching it.
Explain how your choice of housing will help you achieve your personal savings goal.
Align your expenditures to support your goal.
Reflect on how creating a step-by-step and organized approach to the assignment helps you adjust the financial priorities in your plan.