Yearly Budget Project Directions

MTH 154: Project – Yearly Budget Project Directions: Construct a budget sheet that assists you in analyzing your financial status, set goals, make changes, whatever the case may be. This project will have more meaning to you the more it reflects your real life. You can use this to create a budget for your future life based on your plans of a future job, future housing, expenses, etc. I assure you that, should you choose to include personal values, I will be assessing your work only on if it was accurately represented and interpreted. Please work to be realistic so you can gain from the experience. There will never be any judgement made on my part nor any information shared out. Your sheet should address both regular and unexpected monthly expenses, necessities and luxuries, and any debts/savings plans. Your first sheet should create a baseline budget of your expenses (list what you spend/think you will spend each month for each category without regard to if you balance) and then create monthly and yearly budget as well as totals by category. You should have a minimum of 10 to 15 categories with amounts for each month as well as monthly and yearly totals. Your second sheet should be a tracking sheet for each category that tracks your expenses for each month of one year. In sheet two enter your data for three months and leave space for entering data for the rest of the year (these can be left blank). You should have space to enter the date and each expense under the category and month. You should have totals by category (both month and year) as well as monthly totals and a year to date total. Totals will currently only reflect your three months you entered but should update automatically if you add data for the remaining months. These totals should then be compared to your planned budget in sheet one by category and month. Sheet three will be your reflection as described below. ❖ Provide visually appealing formatting to allow for quick differentiation among the categories and months and for quick location of individual items. ❖ Provide visually appealing and correct formatting to allow for ease of data entry without disrupting the form or function of sheet one and two. (What if electrical budget is changed from $150 to $125 a month? What if you have to add another gas receipt for January?) ❖ Accurately calculate your totals in each category in dollars for each month on sheet two. ❖ Accurately calculate your totals in each category in dollars and percentage of total for the year on both sheet one and sheet two. ❖ Accurately calculate your expenses and savings as new items are added to sheet two. ❖ Create two charts on sheet one that compares expenses by month and one that compares expenses by category. (Remember, in Excel, a chart is a graph.) ❖ Create a chart sheet two that compares actual expenses to budget amounts. Reflection: ❖ Paragraph I – What did you learn from this process of creating a sheet to model something in your world? Talk about successes and struggles while doing the project. ❖ Paragraph II – In what other ways in your life might you create another sheet to help you make decisions? ❖ Paragraph III – Analyze your situation. What do your graphs and tables tell you about your financial habits? Where do you see the need for change? What barriers were there to balancing your budget? Rubric for Reflections Reflection Paragraph I Reflection Paragraph II Reflection Paragraph III 6 Points Reflection is well written in organization and grammatical structure. Demonstrate both deep thought and comprehensive overview of the project. Rubric for Sheet One and Two 6 Points Sheet one minimum number of categories used Sheet one formatting Layout, Borders, and labeling Background color, Font, Font size, and Font style all work to differentiate between each category. Sheet one ease of data change/entry Entry of data is easy, cell has correct formatting, and does not cause disruption in the form or function of the workbook Sheet one all requested totals included and correct Sheet one all requested percentages included and correct Sheet one chart comparing categories All totals are on sheet and correct. All percentages are on sheet and correct. The chart is completely labeled, including axes, title and legend. It accurately reflects the data. 4 Points Reflection is written with poor organization or lacking grammatical structure. Demonstrate some thought and comprehensive overview of the project. 2 Points Reflection is written with poor organization and lacking grammatical structure. Demonstrate little thought and no overview of the project. 0 Points No reflection submitted. 4 Points 10-15 categories are used. 2 Points Missing 1 or 2 categories. 0 Points Missing 3 or more categories. The use of, Borders, Background color, Font, Font size, and Font style are mostly effective to differentiate between each category. Data is easy to enter, but some cells do not have proper formatting for the data. The form or function of the workbook is not disrupted. 1 or 2 totals are missing or incorrect. The use of, Borders, Background color, Font, Font size, and Font style are barely effective to differentiate between each category. The form or function of the workbook is disrupted when some data is entered and some cells do not have the proper formatting. The use of, Borders, Background color, Font, Font size, and Font style are not effective to differentiate between each category. The sheet does not function properly, making data entry almost impossible. This can be due to formatting issues or issues with the layout. 5 or more totals are missing or incorrect. 1 or 2 percentages are missing or incorrect. The chart is missing a legend or one of the axis has not been labeled. 3 or 4 percentages are missing or incorrect. The chart is missing two or more labels or a legend and the chart does not accurately reflect the data in the two indicated categories. 3 or 4 totals are missing or incorrect. 5 or more percentages are missing or incorrect. The chart is missing three or more labels. Rubric for Sheet One and Two Continued 6 Points Sheet one chart The chart is comparing months completely labeled, including axes, title and legend. It accurately reflects the data. Sheet two minimum number of months data included with space for all months Sheet two formatting and labeling 3 months of data are included and space is included of the additional 9 months. Layout, Borders, Background color, Font, Font size, and Font style all work to differentiate between each category. Sheet two ease of data change/entry Entry of data is easy, cell has correct formatting, and does not cause disruption in the form or function of the workbook Sheet two calculations correct when new items added Adding additional data will automatically update all calculations. All totals are on sheet and correct. Sheet two all requested totals included and correct Sheet two all requested percentages included and correct Sheet two chart comparing budget to actual All percentages are on sheet and correct. The chart is completely labeled, including axes, title and legend. It accurately reflects the data. 4 Points The chart is missing a legend or one of the axis has not been labeled. 3 months of data are included bit space is not included of the additional 9 months. The use of, Borders, Background color, Font, Font size, and Font style are mostly effective to differentiate between each category. Data is easy to enter, but some cells do not have proper formatting for the data. The form or function of the workbook is not disrupted. Adding additional data will automatically update most calculations. 1 or 2 totals are missing or incorrect. 1 or 2 percentages are missing or incorrect. The chart is missing a legend or one of the axis has not been labeled. 2 Points The chart is missing two or more labels or a legend and the chart does not accurately reflect the data in the two indicated categories. Only 2 months of data is included. 0 Points The chart is missing three or more labels. The use of, Borders, Background color, Font, Font size, and Font style are barely effective to differentiate between each category. The form or function of the workbook is disrupted when some data is entered and some cells do not have the proper formatting. The use of, Borders, Background color, Font, Font size, and Font style are not effective to differentiate between each category. The sheet does not function properly, making data entry almost impossible. This can be due to formatting issues or issues with the layout. Adding additional data will not automatically update calculations. 5 or more totals are missing or incorrect. Adding additional data will automatically update some calculations. 3 or 4 totals are missing or incorrect. 3 or 4 percentages are missing or incorrect. The chart is missing two or more labels or a legend and the chart does not accurately reflect the data in the two indicated categories. Only one months of data is included 5 or more percentages are missing or incorrect. The chart is missing three or more labels.
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