Introduction
Good Afternoon!
Today you will be completing a budget on your own. Some of the terms and amounts have been given to you, but you will have to come up with others on your own.
Resources:
- Notes you have taken
- Textbook
- Internet
- Excel
- NOT anyone else
Standard:
Personal Finance
Creating a budget
Create a budget that includes savings goals, emergency funds, fixed expenses and variable expenses.
Task
You will work through the process page and fill out a budget using the terms and amounts that have been given to you.
You will have to determine which section of the budgets the different terms go to.
You will also have to add 3 more line items into your budget. These need to be different from the ones and can NOT include saving.
Savings WILL need to be added after your additional 3 items and the amount you plan to save.
Please label your budget with the terms:
- Revenue
- Expenses
- Discretionary Income
- Savings
Process
On a notebook piece of paper or Excel (you can choose), you will copy down the terms and amounts below into proper budget format:
Rent $ 300
Utilities $ 75
Allowance $50
Groceries $ 200
Pet Expenses $ 75
Dining Out $ 90
Interest Earned $ 25
Clothing $50
Salary $2500
Dividends From Your Investments $ 45
Doctor Bills $60
Car Payment $75
Evaluation
You will be turning in your Excel document or paper (depending on how you completed the assignment).
The following is how you will be graded:
_____ / 4 Section headers included
_____ / 4 Include section totals
_____ / 24 Correctly placing the term (2 points per term)
____ / 6 Adding 3 additional lines into your budget (not including savings)
____ / 2 Adding savings into your budget
____ / 3 Correctly adding and subtracting throughout your budget
____ / 43 TOTAL