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The purpose of this assignment is to prepare for the future by creating and evaluating a personal budget while reflecting on future considerations. So, prepare! Think through your postgraduation job and location.  Research potential starting salary and expenses. Be sure to cite the sources you use.
Part 1: Create Excel Budget
Create an annual pro forma post-graduation budget in Excel using the attached “Sample Budget” spreadsheet. Estimate income that you will earn from your job one year after graduation, and show taxes subtracted to get your estimated take-home pay. List various savings categories. Show 10 or more expense categories (e.g., rent, student loan payments, cell phone, car payment, insurance, food, utilities). Provide both a monthly and a yearly view. Make sure all of your dollars have a purpose and that you show whether there is a surplus or a deficit after all areas are considered and applied.
Part 2: Evaluate Budget
Evaluate your future budget, covering the topics below in a Word document (250-500 words).

Will I be living within my means? Does my income cover my expenses? Do I have enough income to pay my bills?
Is my budget realistic? How will I be able to tell if it is? What would be something that could hinder my plans? What could be done to overcome that obstacle?
Will I be financially independent from my family?
Will I have an emergency fund?
Will I be saving enough for retirement in my budgets/planning?
Will I have enough to start giving financially to others?

Part 3:  Reflect on Future Considerations
Following your written budget evaluation, include with your Word document a separate reflection of 200-300 words responding to the following questions:

How will you save for your future?  What types of investments, investment vehicles, or investment products or services could help you reach your goals?  How will you/do you research investment opportunities?
In the future, how will you manage your credit?  How will you determine when/how to borrow?
The Bible says in Luke 12:48 that “to whom much is given, much will be required.” From a Christian worldview perspective, what is the importance of incorporating charitable giving in your personal budget and how might you accomplish that?Post-graduation budget (basic version)
after you make your changes, recheck to make sure everything makes sense and totals correctly
Name________________________________________
inputs
$ 55.000
6,20%
1,45%
14,0%
Salary (pre-tax)
Less: social security
Less: Medicare
Less: federal / state income tax
After-tax income
$
$
$
$
$
Jan
4.583
284
66
642
3.591
$
$
$
$
$
Feb
4.583
284
66
642
3.591
$
$
$
$
$
Mar
4.583
284
66
642
3.591
$
$
$
$
$
Apr
4.583
284
66
642
3.591
$
$
$
$
$
May
4.583
284
66
642
3.591
$
$
$
$
$
Jun
4.583
284
66
642
3.591
$
$
$
$
$
Jul
4.583
284
66
642
3.591
$
$
$
$
$
Aug
4.583
284
66
642
3.591
$
$
$
$
$
Sep
4.583
284
66
642
3.591
$
$
$
$
$
Oct
4.583
284
66
642
3.591
$
$
$
$
$
Nov
4.583
284
66
642
3.591
$
$
$
$
$
Dec
4.583
284
66
642
3.591
Source of information
(update to show your
actual sources used):
Full Year
$ 55.000 www.salary.com
$
3.410
$
798
$
7.700 www.taxes.com
$ 43.093
SAVINGS
Emergency
Retirement
other (purpose?)
other (purpose?)
TOTAL SAVINGS
could do % of after-tax income
or flat amount
10%
12%
EXPENSES
Healthcare
Rent or Mortgage
Giving
your expense #4 example: Utilities
your expense #5
your expense #6
your expense #7
your expense #8
your expense #9
your expense #10
your expense #11
your expense #12
your expense #13
your expense #14
your expense #15
your expense #16
could do % of take-home (aftertax) pay or flat amount
10%
TOTAL EXPENSES
Surplus? Deficit? Does every $ have a purpose?
359
431
100
50
940
359
431
100
50
940
359
431
100
50
940
359
431
100
50
940
359
431
100
50
940
359
431
100
50
940
359
431
100
50
940
359
431
100
50
940
359
431
100
50
940
359
431
100
50
940
359
431
100
50
940
359
431
100
50
940
4.309 covers 2 months?
5.171
1.200
600
11.280
250
750
250
750
250
750
250
750
250
750
250
750
250
750
250
750
250
750
250
750
250
750
250
750
3.000 my parents
9.000 www.livinginAZ.com
359
150
350
150
200
50
100
180
75
359
150
350
150
200
50
100
180
75
2.614
359
150
350
150
200
50
100
180
75
2.614
359
150
350
150
200
50
100
180
75
2.614
359
150
350
150
200
50
100
180
75
2.614
359
150
350
150
200
50
100
180
75
2.614
359
150
350
150
200
50
100
180
75
2.614
359
150
350
150
200
50
100
180
75
2.614
359
150
350
150
200
50
100
180
75
2.614
359
150
350
150
200
50
100
180
75
2.614
359
150
350
150
200
50
100
180
75
2.614
359
150
350
150
200
50
100
180
75
2.614
2.614
$
37
$
37
$
37
$
37
$
37
$
37
$
37
$
37
$
37
$
37
$
37
$
37
4.309
1.800 my current bills
4.200
1.800
2.400
600
1.200
2.160
900
31.369
$
443
Personal Finance Project – Rubric
Collapse All
Pro Forma Postgraduation Budget
17.5 points
Criteria Description
Pro forma postgraduation includes income, taxes, savings, and 10 or more expense
categories. Pro forma budget is presented in a monthly and yearly view, using
appropriate Excel formulas.
5. Target
17.5 points
Pro forma postgraduation accurately and clearly includes income, taxes, savings,
and 10 or more expense categories. Pro forma budget is presented in a monthly
and yearly view, is thorough and well organized. Appropriate Excel formulas are
correct and contain no errors. The spreadsheet clearly shows that all income is
accounted for and shows whether there is a surplus or deficit after all areas are
considered and applied.
4. Acceptable
14.88 points
Pro forma postgraduation clearly includes income, taxes, savings, and 10 or more
expense categories. Pro forma budget is presented in a monthly and yearly view
and is well organized. Appropriate Excel formulas are correct. The spreadsheet
clearly shows that all income is accounted for and shows whether there is a surplus
or deficit after all areas are considered and applied.
3. Approaching
13.13 points
Pro forma postgraduation is mostly accurate and includes income, taxes, savings,
and more than five but less than 10 expense categories. Pro forma budget is
presented in a mostly organized annual view but may be missing the monthly view.
Excel formulas are mostly correct. The spreadsheet shows whether there is a
surplus or deficit.
2. Insufficient
11.38 points
Personal budget includes fewer than five expenses or excludes major categories
such as income, taxes, or savings. Pro forma budget is disorganized, and some
Excel formulas are incorrect The spreadsheet is unclear whether there is a surplus
Evaluation
Criteria Description
Includes evaluation of means, potential obstacles, financial independence, emergency
fund, retirement planning, and giving.
9 points
5. Target
9 points
Evaluation of means, potential obstacles, financial independence, emergency fund,
retirement planning, and giving is realistic, extremely well presented and argued;
ideas are detailed, well developed, and supported with specific evidence and facts,
as well as examples and specific details, including potential obstacles.
4. Acceptable
7.65 points
Evaluation of means, potential obstacles, financial independence, emergency fund,
retirement planning, and giving is realistic, well presented and argued; ideas are
detailed, developed, and supported with mostly specific evidence and details,
including potential obstacles.
3. Approaching
6.75 points
Evaluation of means, potential obstacles, financial independence, emergency fund,
retirement planning, and giving is mostly realistic, sound and solid; ideas are
present but not particularly well developed or supported; some evidence is
provided, including potential obstacles, but are usually of a generalized nature.
2. Insufficient
5.85 points
Evaluation of means, potential obstacles, financial independence, emergency fund,
retirement planning, and giving is present but not developed; ideas are present but
Reflection and Future Considerations
8.5 points
Criteria Description
Includes a reflection that evaluates saving for the future, including the types of
investment products and research strategies to reach goals for savings. Covers the
importance and approach to charitable giving.
5. Target
8.5 points
The reflection clearly and comprehensively evaluates saving for the future,
including the types of investments and research strategies to reach goals. Managing
credit is well-discussed. Clearly and thoughtfully covers the importance and
approach to charitable giving.
4. Acceptable
7.23 points
The reflection clearly evaluates saving for the future, including the types of
investments and research strategies to reach goals. Managing credit is clearly
discussed. Clearly covers the importance and approach to charitable giving.
3. Approaching
6.38 points
The reflection includes a basic evaluation of saving for the future, including the
types of investments and research strategies to reach goals. Managing credit is
discussed. Includes basic coverage of the importance and approach to charitable
giving.
2. Insufficient
5.53 points
The reflection does not clearly evaluate saving for the future and does not clearly
describe the types of investments and research strategies to reach goals Managing
Thesis, Position, or Purpose
3.5 points
Criteria Description
Communicates reason for writing and demonstrates awareness of audience.
5. Target
3.5 points
The thesis, position, or purpose is clearly communicated throughout and clearly
directed to a specific audience.
4. Acceptable
2.98 points
The thesis, position, or purpose is adequately presented. An awareness of the
appropriate audience is demonstrated.
3. Approaching
2.63 points
The thesis, position, or purpose is discernable in most aspects but is occasionally
weak or unclear. There is limited awareness of the appropriate audience.
2. Insufficient
2.28 points
The thesis, position, or purpose is unfocused or confused. There is very little
awareness of the intended audience.
1. Unsatisfactory
0 points
Development, Structure, and Conclusion
3.5 points
Criteria Description
Advances position or purpose throughout writing; conclusion aligns to and evolves
from development.
5. Target
3.5 points
The thesis, position, or purpose is logically advanced throughout. The progression
of ideas is coherent and unified. A clear and logical conclusion aligns to the
development of the purpose.
4. Acceptable
2.98 points
The thesis, position, or purpose is advanced in most aspects. Ideas clearly build on
each other. Conclusion aligns to the development of the purpose.
3. Approaching
2.63 points
Limited advancement of thesis, position, or purpose is discernable. There are
inconsistencies in organization or the relationship of ideas. Conclusion is simplistic
and not fully aligned to the development of the purpose.
2. Insufficient
2.28 points
Writing lacks logical progression of the thesis, position, or purpose. Some
organization is attempted, but ideas are disconnected. Conclusion is unclear and
not supported by the overall development of the purpose.
Evidence
3 points
Criteria Description
Selects and integrates evidence to support and advance position/purpose; considers
other perspectives.
5. Target
3 points
Specific and appropriate evidence is included. Relevant perspectives of others are
clearly considered.
4. Acceptable
2.55 points
Relevant evidence that includes other perspectives is used.
3. Approaching
2.25 points
Evidence is used but is insufficient or of limited relevance. Simplistic explanation or
integration of other perspectives is present.
2. Insufficient
1.95 points
Evidence is limited or irrelevant. The interpretation of other perspectives is
superficial or incorrect.
1 Unsatisfactory
Mechanics of Writing
0 points
3 points
Criteria Description
Includes spelling, capitalization, punctuation, grammar, language use, sentence
structure, etc.
5. Target
3 points
No mechanical errors are present. Appropriate language choice and sentence
structure are used throughout.
4. Acceptable
2.55 points
Few mechanical errors are present. Suitable language choice and sentence
structure are used.
3. Approaching
2.25 points
Occasional mechanical errors are present. Language choice is generally
appropriate. Varied sentence structure is attempted.
2. Insufficient
1.95 points
Frequent and repetitive mechanical errors are present. Inconsistencies in language
choice or sentence structure are recurrent.
Format/Documentation
2 points
Criteria Description
Uses appropriate style, such as APA, MLA, etc., for college, subject, and level;
documents sources using citations, footnotes, references, bibliography, etc.,
appropriate to assignment and discipline.
5. Target
2 points
No errors in formatting or documentation are present.
4. Acceptable
1.7 points
Appropriate format and documentation are used with only minor errors.
3. Approaching
1.5 points
Appropriate format and documentation are used, although there are some obvious
errors.
2. Insufficient
1.3 points
Appropriate format is attempted, but some elements are missing. Frequent errors
in documentation of sources are evident.
Total 50 points

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