MATH 1301 Emergency Fund Paper

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beynu

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Math 1301

MATH

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This  portion of your Signature Assignment will have you relate your budget  to a TED Talk. You'll write a few more paragraphs, an introduction and  conclusion, and polish your budget worksheet and bibliography to make  one cohesive document.

Part 5: Emergency Funds (three paragraphs)

Watch Elizabeth White’s TED Talk by clicking the following link. Captioning and transcripts are available at the link.

https://www.ted.com/talks/elizabeth_white_an_honest_look_at_the_personal_finance_crisis (Links to an external site.)

Write a paragraph summarizing your thoughts about Elizabeth White’s TED Talk.

Find two current (within the last six months) magazine or news  articles about emergency funds. Write a single paragraph summarizing the  information from these articles. Address each of the following  questions. What is a situation that may arise that would require the use  of your emergency fund? What are three benefits of having an emergency  fund that would support you for three to six months? What is one  difficulty of setting up your emergency fund?

Use a formula from the Financial Literacy Unit and the amount you put  aside for savings each month according to your budget to determine how  long it would take you to save $1000 in an account that earns 3%  interest compounded monthly.

Use a formula from the Financial Literacy Unit and the amount you put  aside for savings each month according to your budget to determine how  long it would take you to save enough to cover six months’ worth of  expenses according to your budget in the same account.

Write a paragraph that includes this information and your thoughts on the length of time required to achieve these goals.

Part 6: Putting it all together (two additional paragraphs and a bibliography)

Write an introduction and a conclusion tying everything together.

Include the content from your rough draft. You can order your content  however it works best for your paper, but be sure to include all the  required information.

Revise your budget worksheet (if needed) and include it in your final document.

Write a bibliography of the Internet sources and other sources you  referenced using APA formatting. If you need help with this, the UTA  Writing Center is available for you. http://www.uta.edu/owl/ (Links to an external site.)

Explanation & Answer:
2 pages
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Running head: FURTHER EDUCATION AND BUDGET DEVELOPMENT

1

Further Education, Salary and Budget Development
Introduction
Financial literacy is essential for each person. According to Allgood, & Walstad, (2016).,
financial literacy entails having the expertise, skills and knowledge needed to make well though
decisions on how to allocate our financial resources. Financial literacy enables us to make
informed decisions on how to earn and allocate financial resources. There are several approaches
which one can use to allocate their financial resources appropriately. One way to achieve this
goal is by using financial management tools such as budgeting software, as well as expense
tracking software. Financial literacy can also enable us to establish an emergency fund which can
be used to address any emergencies that arise. Lastly, financial literacy enables us to avoid costly
debt, which can ruin our creditworthiness. Through financial literacy, one understands how to
balance their revenue with earnings to ensure that they never spend more money than they earn.
Background information on renumerations
Remuneration scales in most jurisdictions depend on the workers’ experience levels and
academic qualifications. The average salary of a high school graduate with no further education
in my geographical area of Arlington, Texas is $38,286 per year. Data from active jobs and
recruitment agencies across the United States indicate that there is no significant variation in the
salary scales even with increased experience (ZipRecruiter, 2020). Some of the reasons for my
pursuit of higher education include the clamor for a higher salary, the need for flexible working
hours and extensive professional development opportunities. Higher education creates more
employment opportunities in the corporate world with better benefit packages and career
progression support compared to the high school level.
Future Considerations

FURTHER EDUCATION AND BUDGET DEVELOPMENT

2

The move to pursue further education after high school implies the beginning of an
engaging academic process with eventual opportunities for employment in high-level positions
in the corporate arena. After graduation, I would seek a job in financial analysis or management
because of my remarkable mathematical abilities and interest in fiscal processes. A job as a
financial analysis requires at least a bachelor’s degree in disciplines such as accounting,
economics, statistics, finance or any other business-related field (Randstad, 2019). The skillset
required include a detail-oriented approach to decisions and rigorous expertise in financial
markets, business risk management and financial trends. The average annual salary of a financial
analyst in my geographical area is $71,857, which gives a difference of $33,571 when compared
to that of a high school graduate (Indeed, 2020). The salary difference indicates a significant
inc...


Anonymous
I was struggling with this subject, and this helped me a ton!

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