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Select a new housing option and fill in the cost in the Budget table. Choose one of the following (Question 4 in Template):
Rent a house for $15,000 per year
Rent an apartment for $12,000 per year
Rent a room only for $9,000 per year
STEP 7: Fill in the other dollar expenditures in the budget table of the Assignment 2 Financial Plan Budget Excel Template, according to your preferences. Use the entire $50,000 (or whatever value you used for your annual income).
STEP 8: Use formulas to calculate the sum for your “Total” cell of the “Dollars” column and to fill in the “Percent” column of the budget table.
STEP 9: In the Assignment 2 Financial Plan Explanation Word Template, identify the savings goal and the time frame you determined for reaching your goal. Why is the time frame you identified realistic?
STEP 10: Explain why you chose the housing option you did and how it will help you achieve your selected financial goal.
STEP 11: Explain your choices for non-rent expenditures and how they will help achieve your savings goal within the time frame. In other words, how do your expenditures align with the financial goal you selected?
STEP 12: Reflect on the productivity strategies you used to break down your financial plan into smaller steps to help you stay organized and productive. How closely did you follow the plan you thought through in Step 2 on these instructions? How did a step-by-step and organized approach help you to adjust your financial priorities and financial plan?