Bonus Project on Cash Flow Planning
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Bonus Project on Cash Flow Planning
Prepare ahead of time
In business, we are told that we should be proactive, which means focusing our energy and attention on the long-term and thinking about the long-term ramifications of our activities.
People that are proactive will not accept that there is nothing they can do about an unreasonable employer or everyday circumstances; instead, they will point out that there are always options. Proactive people can and do influence the future by their actions, responses to people, events, and circumstances. We may not be able to control what life throws at us, but we can always choose how we respond. The 7 Habits of Highly Effective People, by Stephen Covey, is a seminal work on the subject.
The goal of a Cash Flow Plan is to spend your money on paper before actually spending it during the month.
Remember:
Money is alive and well, and it is always moving.
Wealth is no longer defined by how much money you earn in a year.
What you do with your money over the course of a year is how wealthy you are.
You will either become wealthy, bankrupt, or impoverished.
Make a name for your money.
Rent/mortgage, food, electricity, taxes, insurance, and other miscellaneous expenses
Money that is just unaccounted for will always find a way to escape your personal budget.
Every pay cycle, this Cash Flow Plan should be completed!
Budgeting Percentages Recommendations
The suggested percentage guidelines are derived from a collection of numerous sources. These are merely suggested percentages, and they will fluctuate substantially if your income is extremely high or extremely low.
If you have a low income, for example, your necessities percentages will be large. If you earn a lot of money, your expenses will be a smaller fraction of your income, and your savings (rather than debt) will be higher than advised.
ACTUAL RECOMMENDED PERCENTAGE OF ITEM
UTILITIES
MEDICAL/HEALTH
PERSONAL
Cash Flow Forecasting
Every dollar you earn should go into one of the categories on this sheet. Even if you make up a new category, money “left over” should be paid back into it. Here, you’re making spending selections in advance. Almost every category (excluding debt) should include a monetary value.
Under “Subtotal,” enter the amount for each subcategory, and then total each main category under “Sum.” Fill in the “Actually Spent” column with your actual spending or the savings you made for that area as you move through your first month. If there is a significant gap between the plan and reality, something has to give. You’ll either have to increase and decrease the amount allotted to that area, or you’ll have to better regulate your spending in that area.
If you see an asterisk (*) next to an item, it suggests you might consider using a “cash envelope system” to pay for it.
Hint: If you pay in cash, you’ll become more emotionally invested in what you’re doing with your money, which will encourage you to start saving!
(1) All savings should go into the emergency fund until 36 months of expenses have been saved.
Note: As you move closer to being debt-free, you should boost your savings.
Hint: If you start saving for Christmas and other gifts early, you’ll be able to acquire better deals and give better items for the same amount of money.
Your task is to create a cash-flow forecast for yourself.
Complete the worksheet below.
Finish by answering the remaining questions.
Save the project with your name as the name of the file.
Randy Saleh’s cash flow bonus project is an example.
This project can add up to 20 points to your overall grade in the class.
Note: If you are not yet completely employed, set the following goals for yourself:
a salary of $47,000 per year with complete perks (a fantastic first job!)
This corresponds to $2,545.00 per month in take-home pay.
Your rent will be between $750 and $1,250 per month.
Your power and water utilities will be a minimum of $150 | Internet/Cable will be a minimum of $150
The average car payment in America is $450, so budget around that figurea good used car can cost approximately $300 per month. | Car insurance of at least $85 per month. | Gas, oil, repairs, and license will cost around $150 per month. Tolls are an additional $40!!
I’m sure you’ll figure out the rest!
Note: If you’re still living with your parents (which is a brilliant choice by the way), save at least $10,000 in an emergency fund and pay off your student loans before you move out! If you can accomplish this, your life will be far less stressful.
Simply enter numbers in the Sub Total and Total fields.
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. 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The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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