Homework: Touchstone- Creating a Personal Financial Plan
Scenario: Imagine that you are in a position where you need to move - this could be because of a change in job, a need to modify your living arrangements, or something else. In addition to searching for different housing, you want to begin saving for a specific financial goal.
You will use the Homework Template (an Excel file) to create a budget that satisfies the scenario. You'll also answer reflection questions related to your goals.
Task
This homework has two parts.
In part I, you will create a financial plan based on the scenario described above. You'll use your productivity skills to organize your plan, and you'll use your problem solving skills to determine a reasonable rate of savings to reach your goals. Finally, you'll apply your technology skills to ensure that your budget is balanced, and expenditures (like housing) don't exceed your employment income.
In part II, you will answer reflection questions about the decisions you made and the skills you leveraged while building your plan.
For this homework, you will:
A. Create a budget for a financial plan using Microsoft Excel, ensuring that the information is organized, accurate, and complete.
B. Identify a personal savings goal and a time frame for reaching it.
C. Explain how your choice of housing will help you achieve your personal savings goal.
D. Align your expenditures to support your goal.
E. Reflect on how creating a step-by-step and organized approach to the homework helps you adjust the financial priorities in your plan.
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.
Attachment:- Savings-Template.rar