IN THE SCENARIO BELOW USE THE INFORMATION PROVIDED AS FOLLOWED: financial savings goal: save 2,000 for a vacation. Why could you want to save $2,000 for a vacation as a goal? Time frame for achieving goal: 1 year. Based on the budgeting, below explain why you believe that the financial goal and time frame are reasonable. Give examples of budgeting choices you can make to enable to meet the savings goal. Explain the choices for non-rent expenses and how these decisions will help achieve the savings goal within the time frame selected. Where do you want to live: share an apartment with a friend for $9,000 per year. Explain why this housing option can be beneficial and how it will help you achieve the selected financial goal.

Assignment 2 Financial Plan and Budget Type your name here 1. CREATE YOUR FINANCIAL PLAN Set a Financial Goal: What is your financial goal? Save 2,000 for a vacation Set a Time Frame for Achieving the Goal: How many years do you need? 1 year 2. CREATE YOUR ANNUAL BUDGET Choose a Housing Option: Where do you want to live? Share an appartment with a friend for $9,000 per year Yearly Budget Percentage of Income Dollars Total Income Wages 50,000 00% Total Income 50.000 100% Fixed Expenses Dollars Taxes on Income 7,125 14% 401K Retirement Savings 2,50 5% Financial Goal Savings 2,000 4% 9.000 18% Ren 10% Utilities 5,000 Health Care 3.000 6% Car Loan and Insurance 3,000 Phone 1,500 3% Total Fixed Expenses 33,125 66% Variable Expenses Dollars Food 7,500 15% Car Maintenance and Gas 2,000 4% 2.000 4% Personal Care Entertainment 3,500 7% Miscellaneous 1,875 4% Total Variable Expenses 16,875 34% Total Expenses 50,000 100% Surplus (or Deficit) Summary Total Income 50,000 Total Expenses 50,000 Surplus (Deficit)