This budgeting project is to provide you with experience indeveloping a budget.
This budget should be two pages long, with the first page aprintout of the budget using Excel software (or other spreadsheetsoftware) and should include a 12 month budget. The second pageshould provide a description of the budget items included on thefirst page with a discussion of your goals and how you intend toallocate your salary.
Imagine yourself at some point in the not-so-distant future whenyou are starting your career. Search for entry-level jobs that youwill be interested in and provide a brief summary of the job, thelocation (city/state) where the job is and the salary you will beearning from the description (use the average salary for positionsif you do not see a salary included with your identified job).Based on that information, create a monthly budget for 12 months (1year). For this budget, you may assume that taxes (income, federal,ss, etc) total 20% of your salary. While this may differ inreality, I want you to think of your financial goals and includethem in your budget.
Based on your intended job identify your intended future listyour expenses (rent, car, loans, debt, etc) and fund each one fromyour salary. You may have to do some additional research todetermine the recommendations for how much of your budget should goto rent, car, etc. If it is not reasonable you will losepoints.
Include a final column at the end of your budget with apercentage of how much of your budget is composed by each item thatyou have identified.
Include a short discussion on page 2 regarding your goals andhow effective you will be at meeting them and what you learned fromthis project.
