Assignment 3: Impact of Economics on Daily Living
Due: Week 10
Points: 105
Skill(s) Being Assessed: Problem Solving
Criteria for Success: In this assignment, you will:
Create three monthly budgets using Excel for a financial analysis.
Summarize the change in expenditures between budgets.
Show the findings of your personal financial analysis using appropriate graphs/charts in Excel.
Explain how the chosen graphs/charts help someone to better understand the presented financial data better than other potential graphs/charts.
Discuss the results of financial analysis including overall progress towards saving goals, potential changes in budget that can be made in the future, possible economic/life impacts that may affect their budget in the coming year.
Reflect on what your financial analysis might reasonably look like in a year taking into account income growth and inflation of consumer prices.
What to submit/deliverables: A completed Assignment 3 XLS Template and a completed Assignment 3 Financial Analysis Explanation Word Template.
What is the value of doing this assignment? One way to check your progress towards your financial goals is to conduct a personal financial analysis. This will help you see how well you have stayed on track with your finances over a period of time. Using technology can help you stay organized throughout your analysis, as well as help visualize financial data. Displaying the data visually will allow you to observe general trends in your personal finances and to communicate about them effectively.
For this assignment you will be using Excel as your technology tool to analyze personal financial data and display that data visually. There are many other technologies available for personal or professional use that can be used for this type of analysis. The approach to learning and working with Excel software in this course is one you can apply to other technology tools in your life and career.
Your goal for this assignment is to: Build your confidence and practice in the technology skill by conducting a personal financial analysis using a technology tool. You will use Excel to organize three monthly budgets, visualize this financial data using charts and graphs/charts, and discuss the results of your financial analysis, including progress towards your selected financial goal from Assignment 2.
Steps to complete: In Week 10, submit your assignment in BlackBoard by following these steps: