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
Department of Accounting, Finance and Information Systems
Finance 201- Personal Money Management
Project 1
Instructions
Step 1: Complete a Daily Spending Diary
The use of a Daily Spending Diary will provide information to better understand your spending patterns. Use The Daily Spending Diary sheets to record your spending each day for one calendar month in the categories provided. You can indicate the use of a credit card with (CR). This experience will help you better understand your spending habits and identify desired changes you might want to make in your spending activities.
A sincere effort with this activity will result in beneficial information for monitoring and controlling your spending. Using a Daily Spending Diary can help to:
- Reveal hidden aspects of your spending habits so you can better save for the future
- Create and achieve financial goals
- Control credit card purchases
- Improve recordkeeping for filing your taxes
- Plan for major expenditures
- Start an investment program with the money you save through controlled spending
Step 2: Create your Financial Goals
Creating Short-term, Intermediate and Long-Term Goals assists you in achieving lifelong financial security. Think ahead, plan ahead.
Create the following S.M.A.R.T financial goals for yourself/your household:
- 2 Short Term Goals
- 2 Intermediate Goals
- 2 Long-Term Goals (should include Time Value of Money Component)
(See textbook for definition of a SMART Goal and the time intervals appropriate for each goal type. You will be graded on accuracy.) Each saving goal should include a dollar amount to save each month, how long you will need to save that amount, and the amount you should have accumulated by the end-date of the goal. Some goals will not start this year. For example, funding your 401(k) and IRA accounts cannot begin until you start earning taxable income. [Hint: Your first short-term goal should be to create an emergency savings account.]
Analyze your Daily Spending Diary and decide if your spending behavior aligns with your personal financial goals. If it does not, make adjustments before you prepare your Personal Budget.
Are you spending more than you earn? This means you are taking on more debt each month. This can be normal for a student. Think about why this is happening in your personal situation and how long you can allow it to continue.
If you have student loans, contact the student loan office to find out your balance due, interest rate, and projected monthly payment due when you graduate if you continue to borrow at the same rate throughout college. Tip 1: If you are taking out more in loans than you need, do not continue to do this in the future. Tip 2: You do not have to wait until you graduate to start paying down your student loan debt. Tip 3: Monitor your student loan debt closely at least once per semester.
Step 3: Create a Personal Monthly Budget
Monthly and Annual Budgets are used to help you achieve financial goals by monitoring your progress toward savings and debt reduction each month/year.
The goal is to set up a Personal Monthly Budget where you spend less than you earn each month. The surplus, or amount left over goes into your savings accounts each month in sums equivalent to the amounts determined using your SMART goals. The budget you submit with this assignment should include at least one savings amount that corresponds with at least one of your short-term goals.
Step 4: Submit the following items as Project 1:
- Personal Spending Diary (Excel Document or PDF)
- Personal Monthly Budget (Excel Document or PDF)
- Personal Financial S.M.A.R.T. Goals (Word Document or PDF)
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. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. The can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. 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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