Task:
1. Develop a full “Annual Budget” using the Personal Finance Plan Excel Sheet (Worth 8 points) that includes a recommended budget for the following variables:
a. Housing
b. Student Loan Payments
c. Cable/Utilities/Cell
d. Gym Membership
e. Insurance Premiums
f. Food
g. Auto
h. Personal Goals (What can JM budget for each paycheck to save for things that he really wants? E.g. New golf clubs, an engagement ring)
2. Develop a Personal Balance Sheet (2 points):
a. January 1, 2021 – Where JM is at the start
b. December 31, 2021 – Where he could be at the end of the year (#goals)