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FMGT450Assesment&Forecasting_Personal Budget Assignment

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Unformatted text preview: exercise. It is always good to keep track of your expenses to see where you can save. Planning for your future whether it is short term or long term will become beneficial to anyone who has an issue with spending such as myself. This project really opened my eyes to a lot of bad habits. Working on your personal budget helps you make more conscious decisions with money and realize all the expenses I had incurred. Over the course of this project I worked on analyzing where my monthly budget was to where I expect it to be in three years. This exercise has taught me to save more and to always have a contingency plan. Throughout the project is projected that most my expenses will remain around the same around my first 2 years and will probably see an increases 15 in some areas, such as heat and electricity due to the raise in gas prices, within the third year. However, I will also see decreases in other area, such miscellaneous spending, as I learn to manage my money in a more efficient manner. Based of a good two solid years of working within my 3rd year I projected a slight raise in salary. Planning for the future does not mean planning for the next month or year but years to come. I learned that if I make this a practice I would see tremendous savings all over, as it will make me more disciplined in my spending. I will now take what I learned from this project in order to improve on my bad habits and stop living, paycheck to paycheck. 16...
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