Businesses use budgets to plan for the future. That's what you will be doing for this assignment. Rather than budgeting for your current financial situation, I want you to put together a budget for your anticipated income and expenses after you graduate from college (or graduate school) and take your first job in your chosen field. Therefore, you will be using estimated income and expense figures. You will be required to turn in the following items (see Grading Rubric on last page): 1) This packet, which guides you in the calculation of several budget amounts, including tax calcuilations. 2) The Excel personal budget template provided to you (posted on Blackboard). Feel free to modify the template as needed. I have dropped in some sample numbers, just so you see how the template is formatted. However, you will need to delete my numbers and use your own estimates instead. 3) A short report (about 1-2 pages double spaced) that contains 1) your budget cutting initiatives, 2) a reflective paragraph on what you learned from the project, and 3) a bullet point list of the i) similarities, and ii) differences between business budgeting and personal budgeting. I want you to make this as realistic as possible. Unless noted below, you will not need to provide support or sources for your data. However, for certain expenses, you'll need to fill in your data in the spaces provided below. You will be handing in this packet so that I can see your calculations. Businesses use budgets to plan for the future. That's what you will be doing for this assignment. Rather than budgeting for your current financial situation, I want you to put together a budget for your anticipated income and expenses after you graduate from college (or graduate school) and take your first job in your chosen field. Therefore, you will be using estimated income and expense figures. You will be required to turn in the following items (see Grading Rubric on last page): 1) This packet, which guides you in the calculation of several budget amounts, including tax calcuilations. 2) The Excel personal budget template provided to you (posted on Blackboard). Feel free to modify the template as needed. I have dropped in some sample numbers, just so you see how the template is formatted. However, you will need to delete my numbers and use your own estimates instead. 3) A short report (about 1-2 pages double spaced) that contains 1) your budget cutting initiatives, 2) a reflective paragraph on what you learned from the project, and 3) a bullet point list of the i) similarities, and ii) differences between business budgeting and personal budgeting. I want you to make this as realistic as possible. Unless noted below, you will not need to provide support or sources for your data. However, for certain expenses, you'll need to fill in your data in the spaces provided below. You will be handing in this packet so that I can see your calculations
