In this assignment, you will be CALCULATING and CREATING A PIE CHART for your monthly budget & answering 2 follow-up questions
Submit budget, pie chart and two paragraph responses to Microsoft Teams - CLC & Capstone
Submit budget, pie chart and two paragraph responses to Microsoft Teams - CLC & Capstone
Survey after survey shows that most people think having a budget is important and budgeting is a wise thing to do.
Whether or not you use a budget, stay in control of your money. Know where it is going and make sure it is going where you would like it to go!
Assuming you are living on your own and making some money at a job (you determine the hours and appropriate hourly wage based on your job) Create a monthly budget by filling in the following information and then create a pie chart to illustrate your budget. EXPLAIN how you got your numbers after each line item.
1. Your Annual Income: Explain your numbers.
Wages/Allowance ________________
Other (gifts) ________________
Total income ________________ (TI)
Total Monthly Income (TI/12) $________________
Assume you are living in BC, go to https://www.wealthsimple.com/en-ca/tool/tax-calculator/british-columbia and calculate your after tax income.
2. Now let's consider some of your monthly expenses: Explain how you got your numbers.
Food ________________
Transportation ________________
Phone/Internet/Spotify/Netflix. ________________
Recreation and Entertainment ________________
Housing costs ________________
Insurance ________________
Clothing ________________
Savings ________________
Other ________________
Total Monthly Expenses $________________
Total Monthly Income - Total Monthly Expenses ====== $________________
Use Google sheets or Microsoft excel, input the above data and create a pie chart
to illustrate your monthly budget and explain whether you are saving each month, spending all you make or running short each month
In TWO paragraphs, approx 100 words, on the spreadsheet document,
1. Explain how can you use a budget as you move forward in life
2. Differentiate between DISPOSABLE INCOME and DISCRETIONARY INCOME.
- Do you already have your money under control?
- Do you know where your money is going?
- Are you able to save money?
Whether or not you use a budget, stay in control of your money. Know where it is going and make sure it is going where you would like it to go!
Assuming you are living on your own and making some money at a job (you determine the hours and appropriate hourly wage based on your job) Create a monthly budget by filling in the following information and then create a pie chart to illustrate your budget. EXPLAIN how you got your numbers after each line item.
1. Your Annual Income: Explain your numbers.
Wages/Allowance ________________
Other (gifts) ________________
Total income ________________ (TI)
Total Monthly Income (TI/12) $________________
Assume you are living in BC, go to https://www.wealthsimple.com/en-ca/tool/tax-calculator/british-columbia and calculate your after tax income.
2. Now let's consider some of your monthly expenses: Explain how you got your numbers.
Food ________________
Transportation ________________
Phone/Internet/Spotify/Netflix. ________________
Recreation and Entertainment ________________
Housing costs ________________
Insurance ________________
Clothing ________________
Savings ________________
Other ________________
Total Monthly Expenses $________________
Total Monthly Income - Total Monthly Expenses ====== $________________
Use Google sheets or Microsoft excel, input the above data and create a pie chart
to illustrate your monthly budget and explain whether you are saving each month, spending all you make or running short each month
In TWO paragraphs, approx 100 words, on the spreadsheet document,
1. Explain how can you use a budget as you move forward in life
2. Differentiate between DISPOSABLE INCOME and DISCRETIONARY INCOME.