Your assignment is to create an Excel template for planning a personal budget for yourself. Your budget will be based on a salary amount tied to your major, as well as realistic expenses tied to cost of living in the area the job is in. Therefore, you will begin by choosing an entry level job that you see yourself having in the future. The link of the job should be included in your budget. If the job description does not indicate pay, you can use the average CBT graduate salary of $45,000 gross (not including taxes). You can figure about 20% for taxes, so your take home salary is $36,000 this is the amount you have to budget with. Once you have found the job of your choice you will begin creating your template. Your template should include AT LEAST one formula. The template will include your Monthly Income take home salary divided by 12) You must include the following categories and expenses within your budget: Housing (Mortgage) o In this scenario, you are required to buy a home. Include the link of the home you will purchase. Most websites will have the capabilities of calculating a monthly payment. Go to www.realtor.com or www.zillow.com Utilities (Natural gas, electric, city) If you don't know what these are, you need to conduct research Food (both groceries and take out) Personal Items (Soap, Toothpaste, etc.) Car Payment In this scenario, you are required to buy a car. Include the link of the home you will purchase. Most websites will have the capabilities of calculating a monthly payment. Gas for your car Entertainment (movies, streaming services, etc.) Clothes/Shopping Credit Card Savings/Investing Other Once you calculate your monthly budget you must figure out the following: Percent of your monthly budget that goes towards each category The annual total of your profit or loss (what you have left over times 12) Post your template on Canvas. Your assignment is to create an Excel template for planning a personal budget for yourself. Your budget will be based on a salary amount tied to your major, as well as realistic expenses tied to cost of living in the area the job is in. Therefore, you will begin by choosing an entry level job that you see yourself having in the future. The link of the job should be included in your budget. If the job description does not indicate pay, you can use the average CBT graduate salary of $45,000 gross (not including taxes). You can figure about 20% for taxes, so your take home salary is $36,000 this is the amount you have to budget with. Once you have found the job of your choice you will begin creating your template. Your template should include AT LEAST one formula. The template will include your Monthly Income take home salary divided by 12) You must include the following categories and expenses within your budget: Housing (Mortgage) o In this scenario, you are required to buy a home. Include the link of the home you will purchase. Most websites will have the capabilities of calculating a monthly payment. Go to www.realtor.com or www.zillow.com Utilities (Natural gas, electric, city) If you don't know what these are, you need to conduct research Food (both groceries and take out) Personal Items (Soap, Toothpaste, etc.) Car Payment In this scenario, you are required to buy a car. Include the link of the home you will purchase. Most websites will have the capabilities of calculating a monthly payment. Gas for your car Entertainment (movies, streaming services, etc.) Clothes/Shopping Credit Card Savings/Investing Other Once you calculate your monthly budget you must figure out the following: Percent of your monthly budget that goes towards each category The annual total of your profit or loss (what you have left over times 12) Post your template on Canvas