Excel will help Sarah to quantify and organize her finances After viewing the

Excel will help sarah to quantify and organize her

This preview shows page 2 out of 2 pages.

her financial goals if she spends less than what she brings in each month. Excel will help Sarah to quantify and organize her finances. • After viewing the introductory video tutorial, you will now need to learn how to “balance the budget” by simply getting Sarah’s Actual cash flow to zero. Notice that her cash flow at the end of the month was negative. She needs to borrow from her Living Expenses category a -$225 and that will still leave her with a deficit. This means that she did not meet her Vehicle savings goal and will also have to borrow from her Emergency account to balance the cash flow to zero. In the next part of the case study you will examine Sarah’s budget performance for the month of March. Part IV – Sarah Hilliard’s March Budget Challenge So far we have balanced the February’s Actual cash flow to zero after we realized that Sarah had a deficit by the end of the month. In Part IV we now go on to see how Sarah’s March budget turned out. Your template has a March budget ready to go with the following transactions missing from March 23 rd and on. After you have carefully entered in these transactions as listed above, you will notice that her cash flow results in a “surplus” even after you subtract her rent from her Living Expenses. This is because Sarah was a little more careful regarding her personal expenses over the month of March and also because her “Other Income” matched her $125 goal. Make sure that she achieves her goal on the vehicle down payment and then place the remaining surplus into her “Emergency” account. This will bring the cash flow to zero. Ponder / Prove __________________________________________________________________________________ You will be asked a straight-forward question in the Budgeting Case Study Assessment regarding your results in the March budget .
Image of page 2

You've reached the end of your free preview.

Want to read both pages?

  • Fall '11
  • Dumar
  • Brigham Young University, budget case study, Sarah Hilliard

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture