Budgeting Case Study Instructions - FDMAT 108(Mathematical Tools for the Real World 4-A Taking Control of Your Finances Objectives Budgeting Case Study

Budgeting Case Study Instructions - FDMAT 108(Mathematical...

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FDMAT 108 (Mathematical Tools for the Real World)Budgeting Case Study4-A Taking Control of Your FinancesDeadline: ____________Objectives _____________________________________________________________________________________• Reflect upon some classic budgeting principles discussed via the resources found at providentliving.org and BYUtv. • Become familiar with an Excel spreadsheet working through two different months of a college freshmen’s budget experience.Background ______________________________________________________________________________________• “Perhaps no counsel has been repeated more often than how to manage wisely our income . . . . Too many in the Church have failed to avoid unnecessary debt. They have little, if any, financial reserve. The solution is to budget, to live within our means, and to save some for the future.” (President Thomas S. Monson, Ensign, Sept. 1986, 3)• “Wherefore, do not spend money for that which is of no worth, nor your labor for that which cannot satisfy. . . “ (2Nephi 9:51)Preparation _____________________________________________________________________________________Part I – Budgeting Fundamentals: A brief visit to providentliving.org and BYUtv’s Real Families, Real AnswersThe Church of Jesus Christ of Latter-day Saints facilitates an outstanding website at . By clicking on the left-hand link “Becoming Self-Reliant” and then “Finances” you will find excellent resources you are encouraged to explore at your leisure. You can also use the URL: . Thereis a link on the right-hand side of the page for the pamphlet (in pdf form), titled One for the Moneyby Elder Marvin J. Ashton. Peruse this pamphlet and study Elder Ashton’s 12 recommendations for personal and family financial management. In this personal budget project that you will copy and paste the two questions stated below along with your brief, but well-constructed responses.
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