Personal Finance - The Budget Project

Personal Finance - The Budget Project

Why are we doing this?

Keeping and maintaining a budget is one of the most important skills that you will develop throughout the length of this course.  As such, you will be responsible for recording all monetary transactions that you will make for the next 4.5 months.

How will we do this? 

You can keep track of all of your transactions on paper or on a spreadsheet.  I will email all of you a template that you can use for this assignment.  If you are going to do this on paper, then you will be responsible to submit a professional looking document that resembles the electronic document.  I highly recommend that you start a file folder that contains all of your receipts for any given month.

You will be given one class period per month to work on your budget.  This will usually be the first class of each month.

What you will need to submit

 1)    A complete list of all income for the month.

2)    A complete list of all expenses for the month.

3)    A reflection on the past month’s spending and your budget plan for the next month.

4)    A realistic budget for the following month (starting in October).

Due dates are: October 3, November 5, December 6, January 10, January 25.

 Categories

Revenue:  Allowance, Gifts, Employment, etc.

Expenses:  Transportation, Entertainment, Food, Housing, Phone, Insurance, Personal Care, Clothing, Savings & Investments, Gifts & Charity.