You need to develop a personal budget. Try to be as realistic as possible. If you are
Question:
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.
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds