{"id":109321,"date":"2022-12-10T00:13:29","date_gmt":"2022-12-10T00:13:29","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/touchstone-creating-a-personal-financial-plan\/"},"modified":"2022-12-10T00:13:29","modified_gmt":"2022-12-10T00:13:29","slug":"touchstone-creating-a-personal-financial-plan","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/touchstone-creating-a-personal-financial-plan\/","title":{"rendered":"Touchstone: creating a personal financial plan"},"content":{"rendered":"
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Touchstone: Creating a Personal Financial Plan<\/strong><\/p>\n

SCENARIO: Imagine that you are in a position where you need to move \u2013 this could be because of a change in job, a need to modify your living arrangements, or something else. In addition to searching for different housing, you want to begin saving for a specific financial goal.
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You will use the Assignment Template<\/em> (an Excel file) to create a budget that satisfies the scenario. You\u2019ll also answer reflection questions related to your goals.
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ASSIGNMENT: This assignment has two parts. In part 1, you will create a financial plan based on the scenario described above. You\u2019ll use your productivity skills to organize your plan, and you\u2019ll use your problem solving skills to determine a reasonable rate of savings to reach your goals. Finally, you\u2019ll apply your technology skills to ensure that your budget is balanced, and expenditures (like housing) don\u2019t exceed your employment income.
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In part 2, you will answer reflection questions about the decisions you made and the skills you leveraged while building your plan.
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For this assignment, you will:<\/p>\n

\u00b7 Create a budget for a financial plan using Microsoft Excel, ensuring that the information is organized, accurate, and complete.<\/p>\n

\u00b7 Identify a personal savings goal and a time frame for reaching it.<\/p>\n

\u00b7 Explain how your choice of housing will help you achieve your personal savings goal.<\/p>\n

\u00b7 Align your expenditures to support your goal.<\/p>\n

\u00b7 Reflect on how creating a step-by-step and organized approach to the assignment helps you adjust the financial priorities in your plan.<\/p>\n

Download the Excel template below, which further breaks down the steps involved in this assignment. You will return the completed template as your Touchstone submission.<\/u>
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Assignment Template<\/a><\/p>\n

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A. Assignment Guidelines<\/strong><\/p>\n

DIRECTIONS: Refer to the lists below throughout the writing process. Do not submit your Touchstone until it meets these guidelines.<\/p>\n

1. Creating a Financial Plan<\/strong><\/p>\n

\u2752 Have you populated the table cells for income, savings, housing, and other expenditures?<\/p>\n

\u2752 Have you selected a rate of savings that is realistic in terms of achieving your financial goal?<\/p>\n

\u2752 Have you verified that the sum of your expenditures (including savings) equals your employment income?<\/p>\n

\u2752 Have you verified that the percent column for the expenditures totals 100%?<\/p>\n

2. Reflection Questions<\/strong><\/p>\n

\u2752 Have you directly answered each question that was asked?<\/p>\n

\u2752 Have you provided sufficient evidence to support each of your answers?<\/p>\n

\u2752 Have you made clear and logical connections between your conclusions and the data used in the annual budget?<\/p>\n

\u2752 Have you referred to the skills in this course, if required by the prompt?<\/p>\n

\u2752 Have you included sufficient detail in your answers?<\/p>\n

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B. Requirements<\/strong><\/p>\n

The following requirements must be met for your submission to be graded:<\/p>\n

\u00b7 Abide by the word count limits where applicable. No answer should exceed 150 words.<\/p>\n

\u00b7 Use a readable 11-point font.<\/p>\n

\u00b7 All writing and data entries must be appropriate for an academic context.<\/p>\n

\u00b7 Writing must be original and customized for this assignment.<\/p>\n

\u00b7 Submission must include your name and the date.<\/p>\n

\u00b7 Include all the assignment components in a single file.<\/p>\n

\u00b7 Acceptable file formats include .xls and .xlsx.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\u00a0\u00a0 Touchstone: Creating a Personal Financial Plan SCENARIO: Imagine that you are in a position where you need to move \u2013 this could be because of a change in job, a need to modify your living arrangements, or something else. In addition to searching for different housing, you want to begin saving for a specific […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-109321","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/109321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=109321"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/109321\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=109321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=109321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=109321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}