Describe the steps you will take to create your financial plan and budget. Make sure you provide details about each step using the information on the previous pages.
Describe the steps you will take to create your financial plan and budget. Make sure you provide details about each step using the information on the previous pages.
DISCUSSION TEMPLATE
- Step 1: Create a document or spreadsheet to keep notes about the financial plan and save the file to a folder on your computer or digital device.
- Step 2: In the document or spreadsheet, make a list of possible goals and research the cost of each.
- Step 3: Create a budget spreadsheet using the budget categories shown in Week 2.
- Step 4: Determine annual income and enter it in the budget spreadsheet.
- Step 5: Determine yearly expenses by reviewing bank and credit card statements and enter them in the budget spreadsheet.
- Step 6: Use the 50/20/30 guideline to adjust budgeted expenses to ensure a surplus can be used for savings.
- Step 7: Select a goal that matches the savings amount possible and enter the goal savings amount in the budget spreadsheet.
Describe the steps you will take to create your financial plan and budget. Make sure you provide details about each step using the information on the previous pages. (Your response should be 4–5 sentences.)
Remember, if you use any information or ideas from the webtext, be sure to add a citation (and include quotation marks around any exact wording).
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