Unformatted text preview: each category; [in other words, I do not need dollar amounts!] 3) A statement that you have created your financial statements. Tell me: total expenses as a % of total income, and liabilities as a % of assets. Does your balance sheet show positive or negative net worth? 4) A statement that you have set up a budget for the next 12 months. 5) Tell me what your goal or plan is, and how you plan to achieve it. Please send me your report as a Word document attached to an email. A template for the report has been posted with these instructions. NOTE: the sample worksheets I have provided for monthly budgets and financial statements should be helpful to you. The “monthly budget” can be used to create the income statement for June, as well as your monthly budget for the next 12 months; it should give you some ideas of possible categories for classifying your expenses. The “financial statement” is an example of a balance sheet. Sven Thommesen...
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This note was uploaded on 09/23/2011 for the course FINC 2400 taught by Professor Caudill during the Fall '07 term at Auburn University.
- Fall '07
- Personal Finance