8 The HALT principle means you should not make a major purchase if you are or

8 the halt principle means you should not make a

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8. The HALT principle means you should not make a major purchase if you are ________, _________, ________, or ________ . Part III – Mini Case Study: Sarah Hilliard’s February Budget Results In the Budget Case Study page (first page in the budget folder) you can click on the link titled “Spreadsheet Template” in order to download and save the Excel document, titled “First Financial Template”, to your personal computer or laptop. This spreadsheet file contains February and March worksheet tabs at the bottom of your screen. You will also find a link and/or folder titled “Video Tutorials” to give you specific guidance in Excel for this and all other parts of your spreadsheet assessment. • Here is a little background regarding Sarah Hilliard: She is a first-semester college student and because her January expenses got out of control, she has constructed a fairly simple “action plan” for the month of February. Sarah has a modest part-time job averaging about 8-10 hours a week. Previously she used a modest tuition scholarship and some savings to pay for her tuition. She receives some outside income from her parents that tends to vary between $100 and $125 (see “Other” category). You will notice that the actual expenses are automatically totaled up based on her “Daily Transaction Record” that is to the right of the monthly summary. • Sarah started out February with about $1200 in her banking (checking) account. She considers this money dedicated for three key areas (Emergency, Living Expenses, and Vehicle). She pays her housing on a monthly basis and relies on her Living Expense category to keep funds for her upcoming rent. Sarah has set a goal to save money for a down payment on the purchasing of a vehicle. Even though this purchase is still “down the road” a little, she would like to slowly build up some savings for this specific goal as well as keep a modest “emergency account” for unforeseen expenses. More importantly, she knows she can only make real progress towards her financial goals if she spends less than what she brings in each month. Excel will help Sarah to quantify and organize her finances.
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