Economics Budget Project (4 weeks) February 1st –February 28th, 2016
Mr. Slonim

 

You are going to keep track of where you spend ALL your money during a four-week period.

 

At the end of every day, you must write down how much money you spent that day and what you spent it on. 

You will then record your income/expenses onto an excel spreadsheet.  The sample excel sheet is located on the web page. (http://www.jslon/economics/Budget Project/Budget.xls)

 
How to download the worksheet onto your computer?

1.      Right Click on Budget Worksheet 

2.      Click on Save Target As

3.      Name the file "yourlastname.xls"  (mine would be "slonim.xls") and save it to your hard drive

 

When you have done this for two weeks, you will total up the amount of money that you have spent and then combine them into categories such as automobile or food.  (categories that apply to your spending habits) You will then organize your categories accordingly under “Fixed Expenses” or “Variable Expenses” (see example below).

You will also track your income during the same time period and organize it in a similar fashion as you did with your expenses. (This will be done on the excel spreadsheet as demonstrated in class)

Once you have completed this, you will be ready to prepare a more accurate personal budget for yourself.

 

Due Dates of Project:

 

Friday, February 16th:

 ·         Excel sheet with all expenses and incomes listed for Feb. 1 - Feb. 14

·         Budget outlining your planned expenses/income for Feb. 15 - Feb. 28
 

Friday, March 2nd

 ·    Excel sheet with all expenses and incomes listed for Feb. 1 - Feb. 28
     
(includes all 4 weeks)


·         Budget sheet (that you turned in on February 16th along with the totals that actually occurred during the 2 week period Feb. 15 - Feb. 28) 

This sheet will have your planned numbers AND
the actual numbers for the second two weeks.


Budget Planning:  (we will talk about this during the week of Feb. 5th)

 

1.      Estimate your Income

2.      Estimate your Fixed Costs

3.      Estimate your Variable Costs

 

Example

 

2 Week Budget for JSlo (2/15-2/28)

Income

Expenses

 

Estimated

Actual

 

Estimated

Actual

Job

$70

 

Fixed Expenses:

 

 

 

 

 

Lunch

$35

 

Parents

$50

 

Gas

$30

 

 

 

 

Total Fixed Expenses

$65

 

Total Income

$120

 

 

 

 

 

 

 

Variable Expenses

 

 

 

 

 

Entertainment

$25

 

 

 

 

Clothing

$15

 

 

 

 

Savings

$15

 

 

 

 

Total Variable Expenses

$55

 

 

 

 

 

 

 

 

 

 

Total Expenses & Savings

$120