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Define your personal Gross National Product(GNP), by forcasting your expenses for the year. Categorize each of your expenses into one of 3 categories, Consumption, Savings,
Define your personal Gross National Product(GNP), by forcasting your expenses for the year. Categorize each of your expenses into one of 3 categories, Consumption, Savings, or Government Spending (taxes), the components of GNP. Express each of these 3 categories as a percentage of your total expenses, so as not to reveal personal income. The 3 should total 100%. Discuss any protections you will create in your budget, GNP for budget shocks, like losing your job, or any other unplanned expense. When that task is complete, find the GNP for the United States. Determine how the proportions of the government's GNP differ from your own. Explain why? Also find a recommended budget model for someone in your demographic, explain how the recommended budget, your GNP and the United States GNP differ in proportion and offer a supported opinion as to why? Finally, discuss if you will you modify your personal spending based on any of your research
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