First, you should set your goals. As you learned in chapter 1, you can categorize goals into three types based on the time frame - short-term (within a year), intermediate-term (between 1 and 5 years), and long-term (more than 5 years). Also, the goal can be money-related or nonmoney-related. Remember five characteristics of goals (S.M.A.R.T) when you create your own goals. Also, you should make sure that you include the course of action you'll take to accomplish your goals. You should provide me with at least six goals - short-term monetary goal, intermediate-term monetary goal, long-term monetary goal, short-term nonmonetary goal, intermediate-term nonmonetary goal, and long-term nonmonetary goal

Second, for February and March, you should collect information about what you own and owe and what you earn and spend. Using this information, you should create your own personal financial statements (Balance Sheet, Cash Flow Statement) and Cash budget. Normally, you create your financial statements and cash budget at the end of each month. For this assignment, you should create your personal balance sheet, cash flow statement, and cash budget monthly (between February 1 and February 28, March 1 and March 31)

1) Create personal balance sheets for February and March

2) Create personal cash flow statements for February and March

3) Create your cash budget for February and March

Third, using your own personal statements, you should compute financial ratios. You can find these ratios in the Powerpoint slide I posted. Compare your ratios over time and describe whether there are any changes in ratios