Critical Thinking/ Creating a Budget Essay

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TEAM  A
Kia Kiapaye
Lisa Wright
Nicole  Brooks
 
PRESENT/DESIRED STATE
Present State: Students who move out of their parents home out on their own do not understand how to budget their money effectively. This can cause students to work too many hours and have a negative impact on their school work.
 
Desired State: Before moving out of their parent's home, State University provides students and their parents with a model budget plan to manage their finances. As a result of this plan, students can work a reasonable number of hours and achieve academic success.
 
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IMPLEMENTATION TIME LINE CHART.
Time frame
Task and Events for the Director, Student Services, Director, Student Finance, Students, and Parents  
   
 
One year before school
begins
 
Your team is tasked with creating a Model Budget Plan to help students manage their finances when they move out of their parent’s home into their own apartment.
Nine months
before school
begins
Your Team presents the Model Budget Plan to the Director of Student Services and the Director of Student Finance.
Six months before school begins
University Student Services holds a group Budget Workshop to present the Model Budget Plan to students and parents. Based on the plan, students and their parents decide if students can afford to move into an apartment.
Student and parent(s) have their first discussion regarding what would be necessary for the student to move into an apartment.
Six weeks
before school
begins
Members of Student Services and the Student Finance Office meet with individual students and their parents to review the material presented at the Budget Workshop and make any individual adjustments, if necessary
Three months after school
begins
Members of Student Services and the Student Finance Office have a follow-up meeting with students and parents. The parents congratulate the student for successfully managing their budget and thank the Directors for their...

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