FMGT450Assesment&Forecasting_Personal Budget Assignment

59 174844 300203 2 expenses a transportation car note

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Unformatted text preview: nsurance, tolls, parking etc.) b. Necessities (Groceries, phone bill, prescriptions, etc.) c. Meals, travel, and entertainment d. School needs (Books, supplies etc.) e. Debt payments (Credit cards, student loans, etc.) f. Savings g. Miscellaneous (Other unique expenses not covered) Total expenses $1,226.52 $205.68 $260.61 $93.00 $330.00 $0.00 $924.65 $3,040.46 3. Bottom Line Income minus expenses -$38.43 Graph 1.1 Graph 1.2 6 Learning Based on One-Month Budget After analyzing my budget for the month I learned how important it is too keep track of you financial spending and see where you can find areas to improve upon. After my one-month budget I realized that I was very bad at saving money. I realized that I was spending more than I was making in other words, “living paycheck to paycheck.” This is a financial disaster in my eyes. After this my aim is to monitor my spending and see where I can cut back and save to avoid this fast plummet in finances. The last thing I realizes was that I had no sort of contingency plan in...
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This document was uploaded on 02/20/2014 for the course FMGT 450 at Wentworth Institute of Technology.

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