homework

Please deposit this assignment into the DropBox when complete. 

Create a personal budget for yourself. Not a fake one. A real one! Show me you can manage your money. On blackboard, (in the above tab) you will find the budgeting worksheet. This is the template you will use for creating your own personal budget for every month you are in this course (you can use this in the future as well if you wish, it’s a very handy tool).  Along with this budget, you will be required to submit a 1-page reflection of how you arrived at your budget each month. Using references from your text, please explain and reflect on your budget every month.

This assignment is due on August 8th 2021 by 11:59pm. If you wish to discuss anything about this assignment at anytime, please email me and i will respond as soon as possible.

The final assignment should contain the following:

-3 complete budgets (May/June/July)

-1 reflection paper detailing/summarizing your spending/saving for each of those months. (i only need one paper)

This would be ideal layout of the reflection paper:

Paragraph 1 (intro - what you learned, how you did etc)

paragraph 2 (May budget reflection)

Paragraph 3 (June budget reflection)

Paragraph 4 (July budget reflection)

Paragraph 5 (conclusion)

In your final paper, I would like you to think back to our section on setting goals and create a plan for you to achieve them. Where do you want to be in 5 years and how will you get there? Let’s take a look at how the future looks for you.

Grade

Criteria

Budget Assignment Rubric

            

/20

Relate your monthly papers to a minimum of 2 course learning outcomes:

               CLO 1.                 Describe personal financial planning and its effects on lifestyle, security, and investments.

CLO 2.       Explore the emotional meaning of money, as well as the connection between money and personal worth.

CLO 3.       Examine sociological and demographic factors affecting personal financial decisions.

CLO 4.       Examine the influence of public and private pension sources on retirement planning.

CLO 5.       Propose strategies for minimizing personal economic risks faced by individuals and families in Canada.

CLO 6.       Develop financial goals and predict how they might change during the life cycle.

                           /10   

Assignment complete:

3 monthly budgets (May/June/July)

1 reflection paper

/40

Each individual must create a one-page (750 word) reflection detailing the events of every month of how they arrived at their respective budgets. Relate your reasoning to at least 2 learning outcomes. I am looking for you to consider how you achieved a successful budget or why you did not. It is ok if you did not manage effectively from time to time; however, this course aims to eliminate those months from occurring in the future. So, using examples from your text or in class discussions, please explain why you did not manage to achieve a balanced budget.  This must be submitted on or before August 8th, 2021

/30

Was your budget balanced?

-10 marks for each month it was

- 5 marks if it was not (you can earn up the other 5%, if your paper explains properly why you couldn’t meet your financial obligations)

/100

Total grade