Individual Project/Budget Worksheet
Write a short paper (200-300 words) answering the following questions.
• Do the Jones’s have a surplus or a deficit? If they have a surplus, suggest how they can use the extra money.
• Explain why it is important to have 3 to 6 months’ salary saved for an emergency fund.
• Explain the concept of “paying yourself first.”
NOTE*** For the Individual Project, you’re going to look at the Income and expenses of Ronda Jones and her Husband. The Joneses have an annual income combined, of, $50 grand after taxes. Their mortgage is $1284 utilities for all three. Groceries $56 car payment, $402, medical insurance, $198 gas for the car $102, Car insurance $146 and the misleads expenses $206 per month. You’re going to write 200 words minimum to explain if the Joneses have a surplus or a deficit. If surplus is when you spend Less than what you make a deficit is when you spend more than What you make, you can explain why it’s important to have 3 to 6 months of salary saved up. And the concept of pay yourself, 1st, you can click the attached link and open the spreadsheet. So, let’s look at mine, I’m using my budget, so I will give you all the answers. (See the attached sheet called “Extra instructions from Professor”). This will help you complete the Budget Sheet. (Balance Sheet must be done before turning any work in or everything will be marked wrong)
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APA Format, 419 words