Submitted by: Submitted by leyaleya
Views: 660
Words: 255
Pages: 2
Category: Business and Industry
Date Submitted: 09/11/2011 05:02 PM
Title Understanding Effective Money Management
Assessment A, Part 1: Creating a Personal Financial Statement - Assests
Drag your assets from the notebook to the screen.
Savings account - $826.00
Cash - $378.00
Car - Bluebook value $1250.00
Assessment A, Part 2: Creating a Personal Financial Statement - Debts
Drag your debts from the notebook to the screen.
Rent - $750.00
Cable/Internet/Phone bill - $80.92
Electric/Gas bill - $131.75
Credit Card Balance - $1379.90
Assessment A, Part 3: Identify Money Management Tool
Explain to Monica how you identified the different money management tools and why you chose Money Pro.
I was separating debt from assets. Does it matter how many assets you label on Money Pro?
Assessment A, Part 4: Creating a Personal Financial Statement - Steps
Drag the steps listed on the right into their correct sequences on the left.
Step 1: I got all my financial stuff together - bills, loans, bank statement, etc.
Step 2: I decided what were assets and what were debts.
Step 3: I entered the assets into the program.
Step 4: I entered the debts into the program.
Step 5: I balanced my checkbook.
Step 6: The program gave me a Net worth figure at the end.
Assessment B: Creating a Monthly Cash Flow Statement
For each item listed, decide whether or not it is a fixed or a variable expenditure.
Credit card bill: variable
Groceries: fixed
Coffees: variable
Gas: variable
Electric bill: variable
Entertainment: variable
Phone bill: fixed
Cable bill: fixed
Student loan payment: fixed
Rent: fixed
Haircuts: variable