Family Budget Project – Part 1 monthly cash flow plan Please fully read all PowerPoints and materials for this week and watch the video guide before completing this assignment. You will need to select

Family Budget Project – Part 1

monthly cash flow plan

Please fully read all PowerPoints and materials for this week and watch the video guide before completing this assignment.

You will need to select one case study to use for all 3 parts of the Family Budget Project. Please refer to the document labeled “Family Budget Project – Case Study Scenarios” to read the descriptions. There are four available scenarios:

·       Lucy

·       Lily, Claudia, Sophie, & Kevin

·       Leo, Zoey, & Riley

·       Tony & Elyse

content instructions

For this assignment, you will focus on one of the case studies and focus on their family situation. You will be the expert and discuss their current situation and develop an action plan that will help improve the well-being of the family. After reading about your individual’s/family’s life situations and expenses, you need to fill out: 

·        A monthly cash flow worksheet

·        A recommended percentages worksheet

objectives

Complete each of the worksheets and attach a full 2-3 page paper analyzing each of the worksheets.  

1.     Provide an overview of the family’s financial situation and explain what you learned from each worksheet about their financial management. What purpose do they serve and how did it help you assess the financial situation?

2.     You will need to identify areas of spending that the family should change and explain why you selected those categories.

3.     Compare and contrast their budget for this month and your proposed budget options for the next month.

4.     What adjustments did you have to make? After making the changes, how will this benefit the family?

5.     What did you learn about budgeting?

worksheets

·        Income Sources and Monthly Cash Flow

·        Recommended Percentages

formatting

Part 1 of the Family Budget Project should:

·        Be no more than 3 pages in length

·        Include both Excel worksheets

·        Be typed as a paper (do not fill this document out like the EL worksheets)

·        Be double-spaced

·        Have 1” margins on all four sides

·        Be 12 point Times New Roman fonts only

·        Have no cover page or report cover of any kind

·        Have a single-spaced heading in the upper left corner

·        Worth 30 Points