Staceybarnesresources.weebly.com



Topic 6: Personal Finance BasicsDirections:This assignment consists of three parts. Complete each part according to its specific instructions.Part 1: Spending LogKeep a spending log for a week to track how you are spending money and then write a summary explaining if you think you spent your money wisely or how you could have budgeted your money better.Format RequirementsComplete the assignment using the “Summary” area below.Your response must be between 250-300 words.Prepare this assignment according to the guidelines found in the GCU Style Guide and GCU Style Guide Template, located in the Student Success Center. Solid academic writing is required.Summary:Part 2: Monthly BudgetCreate a balanced monthly budget that outlines monthly income and expenses.Refer to the following table and add/edit to reflect your choicesItemExpenseIncomeBalanceExplanationInitial budget$0.00$1,580.00Food$300.00$1,280.00Based on estimated $10/day (PB&J breakfast, sandwich for lunch, etc.)Item 1$xx.xx$xx.xxItem 2$xx.xx$xx.xxWeekly paycheck$220.00$xx.xxEtc.Etc.Etc.Etc.Etc.Deliverable: A complete table which includes an account of all:monthly income (amounts, sources)expenses (amounts, explanations)balances (after each transaction whether income or expense)The balance at the end of the month must be positive, indicating you are not living beyond your means.Part 3: Credit Card EvaluationResearch three credit card offers and compare rates, terms, etc. to evaluate which is the best offer. Use the table below for your findings.Card ACard BCard CIs the annual percentage rate (APR) fixed or variable?What is the APR penalty of the card? Does it trigger events when it is charged?What is the annual fee?What is the late fee?What are the transactional fees of the card? This could be in regards to balance transfers, cash advances just to mention a few.What is the method of computing the account balance in the card?What is the over-the-limit fee?Does the card have rewards for use? What are they used for?Are there any other features in the card not mentioned above?1. Which of the three cards is the best offer? Explain why. ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download