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TOPIC: FINANCIAL UTERACY ASSIGNMENT TITLE: Budgeting Case on Financial titeracy (CREATE AND FOLLOW YOUR OWN BUDGET) MARKS: 10 MARKS DUE DATE: 11:59 PM, Tuesday, 15th of November, 2022 Please note that this is an INDIVIDUAL assignment. ASSIGNMENT TASK AND INSTRUCTIONS 1. Each student will create their own budget for the month of October 2022-based on classroom discussions on the topic of financial literacy and budgeting. This must include Fixed and Variable expenditure plans; and the sub-heads within each of these two. Please remember to make margin for misceilaneous expenses and some savings as well [2 marks] 2. At the end of the month, the student would compare the Budgeted vs Actual figures for the month-using the correct calculations. [2 mark] 3. The student will write their reflections/experience on how their budgeting experience went. [ 6 marks- 2 each for a, b and c ]: a. Whether they maintained the budget as per plan-how did they achieve this; b. Whether they exceeded the planned expenses or managed to save some moneyhow did they manage this; c. What they would like to do in the future to plan their budset effectively. AN EXAMPLE OF HOW STUDENTS MAY DO THIS (and SOME TIPS) FEFER BELOW: - Recommended Guidelines for a Budget: - BUDGET TEMPLATE SAMPLE ON NEXT PAGE Adjustments required for next month: describe your approach for next month and reasons for it. REFLECTIONS The student will write their reflections/experience on how their budgeting experience went [6 marks-2 each for a,b and c] : a. Whether they maintained the budget as per plan-how did they achleve this: b. Whether they exceeded the planned expenses or managed to save some moneyhow did they manage this; c. What they would like to do in the future to plan their budget effectively. 2