Develop a personal budget as part of a financial plan. As part of this budget you should address the following required elements:
Identify personal financial goals as a start for a personal financial plan (short-term, intermediate-term, long-term, opportunity cost)
Identify inflows of cash (use spending diary)
Identify outflows of cash (use spending diary)
Outline a cash flow plan (interpret data and develop a plan)
Construct personal financial statements
Construct a budget (interpret data a develop a plan to meet short-term goals, at a minimum)
The student addressed the problem and came up with logical solutions using the 5-step problem solving process. The student had a response/suggestion for each of the 5 steps in order to come to a conclusion.