You will have more than one day to complete an assignment. At the end of each day, be sure to save your progress. Review Lesson 4 of the Course Overview for instructions about turning in your assignments. Assignment Questions 1. Describe a real or made up but realistic situation that could cause you or someone you know to have to use money from a financial reserve.
I will know how much to spend. I can keep track of my current spending and and make sure I didn't go over limit. Budgets are necessary for financial health. Plan for retirement because I wont have to worry about money. I would start off small and increase each month.
Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points) Plan for retirement, planning for retirement can make for a better and easy future. Planning for retirement will also help you learn how to make investments and save money. Creating a budget will help you not spend more money than you have.
You will have more than one day to complete an assignment. At the end of each day, be sure to save your progress. Review Lesson 4 of the Course Overview for instructions about turning in your assignments. Assignment Questions 1. Describe a real or made up but realistic situation that could cause you or someone you know to have to use money from a financial reserve.
Manage budgets and financial plans Assessment 2 A budget is an itemised forecast of an individual's or company’s and expenses expected for some period in the future. With a budget an individual is able to carefully look at how much money they are taking in during a given period, and figure out the best way to divide it among a variety of categories. When making a personal budget, an individual will typically designate the appropriate amount of money to fixed expenses such as rent, car payments, or utility bills, and then make an estimation for how much money they will spend in other categories, such as groceries, clothing, or entertainment by keeping track of where one's money goes, one may be less likely to overspend, and more likely to meet their financial goals. 1. You have the responsibility of disseminating the information to your team members.
Incremental budgeting is when you take last year’s budget and add more or less to it depending on what you’re looking to do with your budget for the year. Some companies like this budget because if you’re meeting your budget every year it will stay the same. If you don’t use your budget it will reduce the next year. Some people
Look at your pricing policy and make changes appropriately. You should compare your own hire prices to those of your competitors, check can you afford a rise in your prices without losing custom? You can use the trading, profit & loss forecast to monitor your spending throughout the year. Keep an eye on your monthly expenses to ensure they do not creep up higher than what you are expecting, as this will affect your overall profit at the end of the year. Use the figures in both forecasts to make appropriate decisions to ensure the survival and success of your
If there are any projects going on and there will be an increase on paper used etc. If you have a batch of headed paper and you change your company name you have to make sure you have everything right. The company you buy your stock from could possibly have low stock or prices rise, or even go out of business, different technology. You also have to look at the regulations and you are providing proper standards. 1.3.
Once you are certain that you are ready for this venture, you can follow this step by step guide for buying a home: 1. Find out how much of a mortgage you can afford. This is calculated by taking into consideration your savings, household income, current debt and expenses. You will likely need to pay 20% of the purchase price as a deposit. 2.
Date and time is important to give the planner as a open window to plan; Also to give guest time to get prepared. You might want to start planning roughly two months in advance. When choosing a date and time consider when most people will be available. The second thing, a most important thing is setting a budget. A budget is needed for many reasons for a party so that you can set a limit on how much you want to spend.