Budget Assignment Guidelines

create introduction, discussion, analysis and

conclusions. Failure to follow these instructions will result in a grade of 50% or less. Also,

numbered responses to the guidelines are no considered an essay. Feel free to use someone

else's financial information or make up the data. The point of these assignments is to go through

the process and complete the analysis.

Also, numbered responses to the guidelines are not considered an essay.

1.Identify your financial goals.

2.Make sure your goals are achievable and have a specific time frame.

3.Spend less than you earn.

a.Save for a major purchase, home, car, etc.

4.Build a rainy day fund.

5.Pay off debt.

6.Make sure you cover essentials, living expenses and insurance.

7.Identify all sources of income.

8.Calculate/estimate monthly income.

9.Identify and categorize expenses.

a.Fixed

b.Variable

c.Needs

d.Wants

10.Compare income and expenses.

11.Adjust/reduce expenses if necessary.

12.Monitor.