Project: Devise a Budget – Personal Finance Research
Create a budget for your anticipated household expenses. Set this up for your first 3 years
straight out of high school. Be as REALISTIC as possible so that you can use this when you
1. Research the occupation you think you will enter after graduation from either high school
or college. Find a reference of starting salaries for that job. Print a copy for your
2. What is the cost of living where you plan on living next year?
3. Save copies of the bills that your family receives. You will use these to estimate your
4. Use the classified ads and/or Internet to find an apartment. Consider:
a. Monthly rent
b. Utilities and deposit required when selecting a place to live
c. Print a copy of the ad and include a picture of the apartment.
5. Check Internet sites that provide budgeting advice. List your sources.
a. Write 2 paragraphs summarizing helpful strategies and tips you used in creating
6. Using Excel software, prepare a monthly and yearly budget based on what you’ve
a. Use Excel to calculate the totals of each category of your budget.
b. Write a formula in the spreadsheet to convert the monthly figures to yearly
c. Share your proposed budget with an adult and ask for their suggestions.
7. How do you know that the budget you have constructed is realistic?
8. What are the advantages of sticking to a budget?
Use word processing software to prepare your report. Include the following:
1. An explanation of your employment plans after graduation – include why you want the
job, what training is required for it, and project how much money you’ll earn each month
from the starting pay.
2. Two paragraphs summarizing helpful strategies and tips you used in creating your
3. The Excel spreadsheet of your monthly and yearly budget, pasted electronically into your
4. A signed statement from the adult who reviewed your budget.
5. Copies of your sources for starting pay; your apartment and bills (you may omit
6. A bibliography of the Internet addresses and other sources you referenced.