{"id":4264,"date":"2022-04-24T21:02:20","date_gmt":"2022-04-24T21:02:20","guid":{"rendered":"https:\/\/highclasswriters.com\/blog\/?p=4264"},"modified":"2022-04-24T21:02:21","modified_gmt":"2022-04-24T21:02:21","slug":"income-vs-expenses-assignment","status":"publish","type":"post","link":"https:\/\/highclasswriters.com\/blog\/income-vs-expenses-assignment\/","title":{"rendered":"Income Vs Expenses Assignment"},"content":{"rendered":"\n

Income vs Expenses
50 points<\/p>\n\n\n\n

SECTION 1: Calculate total income for the month.<\/a><\/p>\n\n\n\n

Income<\/strong><\/td>Monthly Amount<\/strong><\/td><\/tr>
Scholarships<\/td>$7000<\/strong><\/td><\/tr>
Work-study pay<\/td>$0<\/td><\/tr>
Loans<\/td>$0<\/td><\/tr>
Grants<\/td>$0<\/td><\/tr>
Work<\/td>$1800<\/td><\/tr>
Family support<\/td>$0<\/td><\/tr>
Other<\/td>$500<\/td><\/tr>
Other<\/td> <\/td><\/tr>
Total Income<\/strong><\/td>$9300<\/td><\/tr>
 Enter Monthly Expenses (subtract from Total Income)<\/strong><\/td>$7033.01<\/td><\/tr>
Total Surplus or Deficit<\/strong><\/td>2266.99<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

SECTION 2: Address the following questions:<\/a>

<\/p>\n\n\n\n

    1. <\/li><\/ol>
      1. <\/li><\/ol>
        1. <\/li><\/ol><\/li><\/ol>\n\n\n\n


          Complete the table below to identify product categories, total dollar amount that will be saved, and strategies that will be used to reduce spending.  The total amount saved should equal the deficit. If you have a surplus, you will need to complete the table to reduce spending to start an emergency fund and\/or increase savings.<\/strong><\/strong><\/p>\n\n\n\n

          Product category from
          monthly expenditure record<\/td>          		Amount of dollar reduction<\/td>Strategy to reduce spending in this category<\/td><\/tr>
           <\/td> <\/td> <\/td><\/tr>
           <\/td> <\/td> <\/td><\/tr>
           <\/td> <\/td> <\/td><\/tr>
           <\/td> <\/td> <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

          *I highly recommend cutting back at least an additional $25 to place in an emergency fund for unexpected expenses orjob loss.<\/p>\n\n\n\n

          Visit the following resource to identify strategies to start an emergency fund<\/p>\n\n\n\n

          1. Four Quick Way to Build Your Emergency Fund
            https:\/\/www.daveramsey.com\/blog\/4-quick-ways-to-build-your-emergency-fund<\/a>
            1. Emergency Fund: What it is and Why it Matters
              https:\/\/www.nerdwallet.com\/blog\/banking\/banking-basics\/life-build-emergency-fund\/<\/a><\/li><\/ol>
              1. A Step by Step Guide to Building a Big Healthy Emergency Fund
                https:\/\/www.thesimpledollar.com\/a-step-by-step-guide-to-building-a-big-healthy-emergency-fund\/<\/a><\/li><\/ol><\/li><\/ol>\n\n\n\n

                SECTION 3: <\/a>Reflection: Address the following questions:<\/p>\n\n\n\n

                1. How has the overall assignment, Personalized Budget Plan<\/em>(include setting goals, tracking expenses, comparing income & expenses), helped you with your current financial situation?


                  <\/li>
                2. How do you anticipate that this assignment, Personalized Budget Plan<\/em>(include setting goals, tracking expenses, comparing income & expenses), will help you in the future?<\/li><\/ol>\n","protected":false},"excerpt":{"rendered":"

                  Income vs Expenses50 points SECTION 1: Calculate total income for the month. 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