Creating and implementing a plan for spending and saving $($budgeting$).$

Creating personal financial statements $($balance sheets and cash flow statements of income and outflows$).$

Storing and maintaining personal financial records and documents.

Opportunity Costs

Every decision involves a trade$-$off with things given up $($sacrificed$).$

Personal opportunity costs include time, effort, and health.

Financial opportunity costs are based on the time value of money.

Time Value

Future value and present value calculations enable you to measure the increased value $($or lost interest$)$ that results from a saving, investing, borrowing, or purchasing decision.

The relationship among the personal balance sheet, cash flow statement. and budget provides the basis for achieving long$-$term financial security, because if offers you a tool to plan and organize your finances.

Personal Monthly Budget Spreadsheet

Complete the attached Personal BudgeL Spreadsheet darr to the best of your ability and turn in as an attachment$/$upload$/$pdr$.$ A $3-6$ months worth of expenses is proper amount for an emergency fund.

If you are uncomfortable sharing personal information, go ahead and be creative $($but realistic$)$ with your submission.

What does your monthly income minus your monthly expenses equal? If your monthly expenses exceed your monthly income. You are spending too much! Re$-$budget