week 3 assignment

Anonymous
timer Asked: Dec 18th, 2018

Question description

WAS WONDERING IF YOU COULD COMPLETE THE TWO TABS FOR WEEK 3 ON THE SPREADSHEET WITH THE WEEK 1 INFORMATION??

Household Rent Mortgage HELOC or Home Equity Loan Maintenance/HOA Fee Property Tax (if not included in mortgage) Home Insurance * Telephone/ Cellphone Internet Cable Electricity Heating/Cooling (Coal, Oil, AC) Water Garden/Lawn care Alarm System Maintenance and Repair, Including Purchases Additional Item 1 Additional Item 2 Additional Item 3 $ Amount $955.00 $0.00 $0.00 $0.00 $0.00 $15.00 $220.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Frequency Monthly Payment Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly $955.00 $0.00 $0.00 $0.00 $0.00 $15.00 $220.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1,190.00 Total Monthly Household Expenses Transportation Monthly Car Payment 1 Monthly Car Payment 2 Monthly Car Payment 3 Gas for ALL Cars Car Maintenance Parking Tolls Emergency Service Public Transportation Taxis/Car Service Additional Item 1 Additional Item 2 Additional Item 3 $ Amount $660.00 $0.00 $0.00 $40.00 $200.00 $65.00 $0.00 $0.00 $1.50 $0.00 $0.00 $0.00 $0.00 Frequency Monthly Payment Monthly Monthly Monthly Weekly Every 6 Months Monthly Monthly Monthly Daily Monthly Monthly Monthly Monthly $660.00 $0.00 $0.00 $173.33 $33.33 $65.00 $0.00 $0.00 $45.62 $0.00 $0.00 $0.00 $0.00 $977.28 Total Monthly Transportation Expenses Insurance $ Amount Frequency Home Renters * Mortgage Health Life Disability Long-Term Care Dental Car Motorcycle Vision Care Personal Liability Pet Health Flood/Earthquake/Hurricane Miscellaneous Insurance 1 Miscellaneous Insurance 2 Miscellaneous Insurance 3 Monthly Payment $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Total Monthly Insurance Expenses Entertainment $ Amount Frequency Monthly Payment Eating Out Video Rentals Movies Magazine & Newspaper Computer/Video Game/Software Music Sports Tickets Concert Tickets Vacations Additional Item 1 Additional Item 2 Additional Item 3 $100.00 $10.50 $0.00 $0.00 $0.00 $5.50 $2,000.00 $1,000.00 $4,000.00 $0.00 $0.00 $0.00 Weekly Monthly Monthly Monthly Monthly Monthly Yearly Yearly Every 6 Months Monthly Monthly Monthly $433.33 $10.50 $0.00 $0.00 $0.00 $5.50 $166.67 $83.33 $666.67 $0.00 $0.00 $0.00 Total Monthly Entertainment Expenses $1,366.00 Instructions: Enter the payment amount as a number, then select the frequency from the drop-down. The Monthly Payment Amount will automatically calculate, and will sum throughout the spreadsheet. Personal Care Food/Groceries Clothes Dry Cleaning/Laundry Family Travel Haircare Products Hair Cuts, Coloring, etc. Cosmetics/Makeup/Perfume Dentist/Orthodontist Oral Hygiene Products Eye Doctor Contacts/Glasses Doctors Medication Toiletries Gym Membership/Dues Personal Grooming (manicure, pedicure, etc.) Additional Item 1 Additional Item 2 Additional Item 3 $ Amount Frequency Monthly Payment $300.00 $400.00 $0.00 $400.00 $40.00 $20.00 $120.00 $0.00 $40.00 $0.00 $0.00 $0.00 $0.00 $30.00 $0.00 $70.00 $0.00 $0.00 $0.00 Every 2 weeks Monthly Weekly Every 2 weeks Every 3 months Weekly Every 6 Months Monthly Every 2 months Yearly Yearly Yearly Yearly Monthly Monthly Every 2 months Monthly Monthly Monthly $650.00 $400.00 $0.00 $866.67 $13.20 $86.67 $20.00 $0.00 $20.00 $0.00 $0.00 $0.00 $0.00 $30.00 $0.00 $35.00 $0.00 $0.00 $0.00 Total Monthly Personal Care Expenses Child Expenses Childcare Child Support Payments School Books/Supplies Enrollment/School Fees Tuition Lunch School Uniforms Sports Team Fees Sporting Equipment After-school Lessons (dancing, music, etc.) Extracurricular Activity Additional Item 1 Additional Item 2 Additional Item 3 $2,121.53 $ Amount Frequency Monthly Payment $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Total Monthly Family Expenses $0.00 Miscellaneous $ Amount Frequency Monthly Payment Pet Food Vet Bills Pet Care (litter, toys, sitter) Donations Books/Downloads Jewelry Hobby Vacation Parties Gifts (birthdays, holidays, etc.) Holiday/Seasonal Items Other Miscellaneous Items Additional Item 1 Additional Item 2 Additional Item 3 $0.00 $0.00 $0.00 $0.00 $0.00 $1,000.00 $500.00 $1,000.00 $0.00 $4,000.00 $0.00 $0.00 $0.00 $0.00 Monthly Monthly Monthly Monthly Monthly Yearly Every 2 weeks Every 2 months Monthly Yearly Monthly Monthly Monthly Monthly $0.00 $0.00 $0.00 $0.00 $0.00 $83.33 $1,083.33 $0.00 $500.00 $0.00 $333.33 $0.00 $0.00 $0.00 $0.00 Total Monthly Miscellaneous Expenses Debt Payments Credit Card 1 Credit Card 2 Credit Card 3 Personal/Bank Loan Student Loan Miscellaneous Debt 1 Miscellaneous Debt 2 Miscellaneous Debt 3 $2,000.00 $ Amount $3,000.00 $0.00 $0.00 $0.00 $750.00 $0.00 $0.00 $0.00 Frequency Yearly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Total Monthly Debt Payments Savings Contributions Emergency Fund Educational Accounts Retirement Accounts Savings Account Monthly Payment $250.00 $0.00 $0.00 $0.00 $750.00 $0.00 $0.00 $0.00 $1,000.00 $ Amount $0.00 $0.00 $0.00 $300.00 Frequency Monthly Monthly Monthly Every 2 weeks Monthly Payment $0.00 $0.00 $0.00 $650.00 Additional Item 1 Additional Item 2 Additional Item 3 $0.00 $0.00 $0.00 Monthly Monthly Monthly $650.00 Total Monthly Savings Payments Total Monthly Expenses $9,304.82 Income After-tax Income Spouse/Partners' After-tax Income Alimony Unemployment Social Security Other income- Disability Other income- GI Bill Other income $ Amount $2,400.00 $0.00 $0.00 $0.00 $0.00 $3,100.00 $2,600.00 $0.00 Frequency Every 2 weeks Yearly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Income $5,200.00 $0.00 $0.00 $0.00 $0.00 $3,100.00 $2,600.00 $0.00 $10,900.00 Total Monthly Income Total Monthly After-Tax Income Total Monthly Expenses $10,900.00 $9,304.82 TOTAL MONTHLY EXCESS OR DEFICIT Breakdown of Monthly Expenses Home 7% Transportation 13% Insurance 11% 10% Entertainment 0% 21% 15% Personal/Family Care Child Expenses Miscellaneous 0% $0.00 $0.00 $0.00 23% $1,595.19 Category Home Transportation Insurance Entertainment Personal/Family Care Child Expenses Miscellaneous Debt Payments Savings Contributions Total $ Amount $1,190 $977 $0 $1,366 $2,122 $0 $2,000 $1,000 $650 $9,305 Debt Payments Savings Contributions Based on your current financial situation, what are two short-term (in the next 12 months) goals you might set for yourself? Goal 1: Within the next 12 months my number one goal is to pay off my wife's remaining 13,000 dollars in student debt. I love my wife and would do anything for her but the only thing that kills me in the am proud of her for nearly grabbing her Master's Degree in Criminal Justice this month of December. Goal2: My second goal is to maybe push for more than two vactions in one year. Every Spring Break me and my wife go out with our friends to a beach condo in Mexico and just have a blast. We always results. I want to try and squeeze maybe one more vacation towards the end of the year to new places that neither my wife or I have seen. Based on your current financial situation, what are two long-term (more than one year in the future) goals you might set for yourself? Goal 1: My current financial situation is in great shape in my opinion. I do not have any kids so there is one big expense that I do not have. Me and my wife have lots of fun with our friends and family and that on a consistent basis. My financia goal is to buy a house after my wife graduates and hopefully go back to my hometown of Imperial, CA. I want to start a career in the criminal justice field in the plac accomplish them. Goal2: My next goal is to start a career as well as my wife but to do it back home. I want to be able to live in a nice house with my wife because I believe that is the ultimate American Dream. Look at your excess or deficit (above in yellow rows). What are some steps you can take to bring this amount to zero? List at least two actions you could take. Struggles financially are something that I don't experience at the moment and I thank god for that everyday. the instructions could make the numeracy case by saying something like "math is part of our everyday lives as we decide what we can and % of Total Expenses 13% 11% 0% 15% 23% 0% 21% 11% 7% uld do anything for her but the only thing that kills me in the month is paying 750 of her debt. Although I a beach condo in Mexico and just have a blast. We always go again towards the end of July and same and my wife have lots of fun with our friends and family and seem to really enjoy ourselves when doing want to start a career in the criminal justice field in the place where I set my goals and hopefully I can I believe that is the ultimate American Dream. part of our everyday lives as we decide what we can and can't spend, how much to save, etc.... 2213 1314 1321 1322 2 1 1 2 3 3 1 1 2 3 4 1 2 1323 1324 1 1 3 3 2 2 3 4 1211 1 2 1 1 1221 1222 1223 1224 2111 2112 2113 2114 1111 1112 1113 1114 1121 1122 1123 1124 1 1 1 1 2 2 2 2 1 1 1 1 1 1 1 1 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 1 1 1 1 1 1 1 1 2 2 2 2 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 cash to put away each month. You're currentlytrue living withinfreedom, your means. But to achieve financial you Congratulations! need to take that extra cash you have left over each month and use it to increase your debt payments. You're currently living within your means, which is good. But to achieve true financial freedom, you need get out from under your debt burden as quickly as possible. See if you can find ways to reduce your spending each month and free up some cash that you can use to increase your debt payments. At the same time, you need to start planning for a rainy day. What can you do to start building an emergency savings fund? You've put some money away for a rainy day and don't have any debt, which is good. But you're currently living beyond your means. See if you can find ways to reduce your spending each month to the point that you're not spending more than you earn. You have no debt, which is great. But you're currently living beyond your means and don't have anything put away for a rainy day. See if you can find ways to reduce your spending each month so that you're spending less than you earn. Use the extra money to start building an emergency savings fund. You're currently living beyond your means, your debt threatens to drag you down even further, and you don't have anything put away for a rainy day. You need to find ways to reduce your spending each month so that you're spending less than you earn. Use the extra money to increase your debt payments so you can get out from under your debt burden as quickly as possible. Then you need to use the extra cash to start building an emergency savings fund. 2214 1311 1312 1313 2221 2222 2223 2224 1322 2 1 2 1 2 3 2 3 1 1 2 4 1 2 3 1 2 3 4 2 You're living your means and are debt free! Congratulations! But you need to start saving for ayou're rainy day. Take ofwithin that income not spending each month start building emergency fund. You've managed toextra put some money away for a get rainy day: congratulations! But achieve true financial freedom, you need out from under your debt burden as quickly asuse possible. See ifsome you can find ways to reduce your spending each month andand free up some cash that you to increase debt payments. But to to achieve true financial freedom, you need to take that extra cash you have leftanover eachcan month and use it toyour increase edom, you need get out from under your debt urther, and you don't have anything put away you can use to increase your debt payments. Where an amount is requested, enter only dollar amounts to allow calculations to occur. 1 This year's total tuition costs 2 How much of this year's tuition is currently funded through loans? 3 How much of this year's tuition is currently funded through personal savings or salary? 4 How much of this year's tuition is currently funded through scholarships, grants (including Grants), military benefits, employer reimbursement, and/or other sources? 5 Unfunded tuition costs Excess funding These options are best suited to address my unfunded tuition: 1 2 3 4 5 6 How much student loan debt do you expect to have at graduation? 7 What is the average annual starting salary you expect after graduation? 8 Do your student loans exceed your expected annual starting salary? 9 What can you do to reduce the amount you borrow? If you do not have any loans, what would you suggest to another student? 1 2 3 4 10 What is the standard monthly payment for the total amount you expect to borrow? 11 What federal repayment plans are available to help students lower the standard monthly 12 Explain your return on educational investment. Consider what you will pay for your progr borrow, and estimated future salary over the length of your career. 13 After completing this assignment, how do you feel about your plan to pay for college? Wil amount you borrow? Will you try to find ways to pay some tuition without using loans? W make to your educational financial plan? n amount is requested, enter only dollar amounts to allow calculations to occur. This year's total tuition costs How much of this year's tuition is currently funded through loans? How much of this year's tuition is currently funded through personal savings or salary? How much of this year's tuition is currently funded through scholarships, grants (including Pell Grants), military benefits, employer reimbursement, and/or other sources? Unfunded tuition costs Excess funding These options are best suited to address my unfunded tuition: Total How much student loan debt do you expect to have at graduation? What is the average annual starting salary you expect after graduation? Do your student loans exceed your expected annual starting salary? What can you do to reduce the amount you borrow? If you do not have any loans, what would you suggest to another student? Total What is the standard monthly payment for the total amount you expect to borrow? What federal repayment plans are available to help students lower the standard monthly payment? Explain your return on educational investment. Consider what you will pay for your program, how much yo borrow, and estimated future salary over the length of your career. After completing this assignment, how do you feel about your plan to pay for college? Will you try to lower amount you borrow? Will you try to find ways to pay some tuition without using loans? What changes migh make to your educational financial plan? $0 $0 $ Covered $0 NO Potential Savings $0 payment? ram, how much you'll ll you try to lower the What changes might you Added expenses when working in chosen job Moving costs (if applicable, choose the time period you would have these costs paid within- no more than Yearly) $ Amount Childcare Public transportation to/from work Gas to/from work Parking Additional meals (ex. lunch, group events) Clothing Work-related materials/supplies (ex. classroom supplies) Conference or organization membership Union dues Health insurance payment Dental insurance payment Vision insurance payment Disability insurance payment Life insurance payment Retirement plan contribution Additional Item 1 Additional Item 2 Additional Item 3 Total Additional Monthly Job Expenses Estimated gross monthly salary first year after graduation Estimated monthly take-home salary first year after graduation (assumes 19.2% tax rate) Estimated increase (decrease) to monthly take-home pay Total Additional Monthly Household Income Original Monthly Budget from Week 1: Total Monthly After-Tax Income Total Monthly Household Expenses Total Monthly Transportation Expenses Total Monthly Insurance Expenses Total Monthly Entertainment Expenses Total Monthly Personal Care Expenses Total Monthly Family Expenses Total Monthly Miscellaneous Expenses Total Monthly Debt Payments Total Monthly Savings Payments Monthly Excess/Deficit $ $ $ $ $ $ $ $ $ $ 10,900.00 1,190.00 977.28 1,366.00 2,121.53 2,000.00 1,000.00 650.00 $1,595.19 Frequency Estimated increase (decrease) to monthly take-home pay Less Additional Monthly Job Expenses Less Estimated Monthly Student Loan Payment Estimated Future Montly Excess/Deficit -$5,200.00 $0.00 $0.00 ($3,604.82) In this assignment you have considered the most common expenses you may see as a result of working in your c Lines 45-48 on this worksheet show how your future monthly income and expenses may change. How does this a your thinking about future jobs? Enter your response here: Monthly Payment $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$5,200.00 $5,700.00 ult of working in your chosen career. change. How does this activity affect
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