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Create a pro forma post-graduation budget in Excel. Evaluate your budget and submit one Excel file that includes both the budget and evaluation. Estimate income that you will earn from your job after...

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Create a pro forma post-graduation budget in Excel. Evaluate your budget and submit one Excel file that includes both the budget and evaluation. Estimate income that you will earn from your job after graduation. Include five to ten expenses that you will incur (e.g., rent, student loan payments, cell phone, car payment, insurance, food, utilities).

In the evaluation XXXXXXXXXXwords), answer the following questions in complete sentences:

  • Am I living within my means? Does my income cover my expenses? Do I have enough income to pay my bills?
  • Am I financially independent from my family?
  • Do I have an emergency fund?
  • Am I saving enough for retirement in my budgets/planning?
  • Do I have enough to start giving financially to others?

While APA style is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

Answered Same Day Jun 21, 2021

Solution

Pranjal answered on Jun 25 2021
138 Votes
Sheet1
        Pro-forma Post-Graduation Budget:
        Post-Graduation Budget for 5 Years
        Particulars    Year 1    Year 2    Year 3    Year 4    Year 5    Total
        Earning from Salary (A)    24,000    24,480    24,970    25,469    25,978    124,897
        Expenses:
        House Rent    6,000    6,060    6,121    6,182    6,244    30,606
        Food and Clothing    3,000    3,030    3,060    3,091    3,122    15,303
        Electricity    1,200    1,212    1,224    1,236    1,249    6,121
        Mobile Phone Bill Payment    1,200    1,212    1,224    1,236    1,249    6,121
        Credit Card Payment    3,000    3,030    3,060    3,091    3,122    15,303
        Insurance    1,200    1,200    1,200    1,200    1,200    6,000
        Student Loan Repayment    3,600    3,600    3,600    3,600    3,600    18,000
        Utilities    1,800    1,818    1,836    1,855    1,873    9,182
        Total Expenses (B)    21,000    21,162    21,326    21,491    21,658    106,636
        Net Savings (A-B)    3,000    3,318    3,644    3,978    4,321    18,261
        Growth Rate in Net Savings    NA    11%    10%    9%    9%    NA
        Evaluation:
        The budget shows that I have been able to live my means. My income covers my expenses and I have been able to accumulate surplus out of my income as well.
        Since I have been able to accumulate...
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