FP 100 Week 1 Personal Monthly Budget

Math is part of our everyday lives as we decide what we can and cannot spend. There is a certain amount of money coming in, an amount that has to go out toward necessities, and an amount that goes out to other spending. In this assignment, you will be creating a personal budget by entering your numbers into an Excel® spreadsheet.

Note: The spreadsheet has already been created and the calculations will be done for you. However, you will need to understand what the numbers represent.

Review your Week 1 Learning Activities, especially Ch. 2 of Focus on Personal Finance and your iGrad Resources on Budgeting and Financial Planning located in the “Additional Reading and Video Resources” link.

Reflect on the money you have spent over the past month, and look back at less frequent expenses by considering what you have spent over the past year.

Watch the Personal Monthly Budget Overview to understand how to use the Excel® spreadsheet in this assignment.

Complete your budget by entering your numbers into the spreadsheet found in the “Week 1-Personal Monthly Budget” tab of the Personal Financial workbook. You will notice 3 tabs located at the bottom of this workbook. Each tab represents an assignment. You will use the “Week 1-Personal Monthly Budget” tab for this assignment.

Enter the amount you pay and how frequently you pay it (select frequency from the drop-down).

• If you do not have any expenses for this category, enter a zero (0).
• If you have an expense but do not see a line for it, enter it in one of the rows labeled Additional Items.
• The Monthly Payment is the result of a calculation. If it seems incorrect, edit the $ Amount or Frequency.

Your final step will be to answer the three questions located at the end of the budget in the spreadsheet.

Save all the data you entered into the budget along with your responses.

Submit your completed budget in the workbook to the Assignment Files tab.

Note: This Excel® workbook will be used again for the Week 3 Education Funding and Job Expenses assignment. The monthly income and expenses you enter will carry over to the “Week 3-Education Funding” tab and “Week 3-Job Expenses” tab in the workbook. You will resubmit this same workbook after completing the Week 3 assignment.