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MATH 108X - Budgeting Case Study Excel File

Cash Financial Aid
Step 1. Hover Mouse here to begin. 2-Semester #3 Juan's Receipt Record #1 Juan's Background Story Check Other Income
Semesterly Income 1st Semester Combined Total
Credit Card Paycheck
Step 2. Type in Juan's Remaining Receipts.
Financial Aid 500.00 Hint
Date Store Details Amount Expense Category Payment Method Juan just finished the first month of his first se mester of college. He has Debit Card Savings Withdrawal
decided it is time to take the advice he heard in his class and start his own
Gauss's Market start of semester groceries $ 150.78 Groceries Debit Card
Other Income 50.00 1/3 personal budget! Direct Deposit
Step 3. Comp ute Juan's new Saving s Balance by removin g his Semes terly Estimated Total Semesterly Income: 0.00 1/3
The Housing Place first semester housing contract $ 975.00 Housing Check
Payroll DeductiCell Phone
Exp en ses and adding his Semesterly Income. What he typed in already...
Semesterly Expenses 1st Semester Combined Total 1/3
BYU-Idaho Bursar's Office tuition $ 2,150.00 Tuition Debit Card
Charitable Donations
Housing 975.00 Hint 1/3
BYU-Idaho Bookstore textbooks $ 385.42 Textbooks Credit Card Juan collected the receipts from all his purchases since the start of the Eating Out
semester. Today he finally sat down to type his receipts into his budget.
Step 4. Set a New Monthly Goal for Juan that will b alan ce his bud get and keep Tuition 2,150.00 1/3
Financial Aid Office scholarship money $ 500.00 Financial Aid Direct Deposit
Your job is to help him finish. Entertainment
him from spending more than he has. Mom & Dad birthday gift for me $ 50.00 Other Income Cash
Textbooks 385.42 1/3 Gifts
The Church of Jesus Christ of scholarship and gift tithing $ 55.00 Tithing (Special Income) Direct Deposit
Juan arrived at school on January 3rd and did a lot of spending. As you
School Supplies 14.25 1/3 Latter-day Saints ca n see in "Juan's Receipt Re cord," he bought groce ries for $150.78, paid Groceries
Step 5. Tithing (Special Income) 55.00 1/5
Frozen Berry Shoppe ice cream (date with Jenny) $ 4.88 Eating Out Cash his housing contract for the seme ster at $975, paid his semester's tuition of Housing
Typ e a detailed description in th e tex t box below o f h ow Juan will need to
The Church of Jesus Christ of Latter- fast offering $ 5.00 Charitable Donations Cash
$2150, and bought his textbooks for $385.42. He received a $500
Estimated Total Semesterly Expenses: 0.00 1/6 day Saints
scholarship that he will get every semester. He also received a $50 cash School Supplies
change his spending habits to meet y our new "M onthly G oal" for his
bud get. Previous Savings Balance New Savings Balance 1/7
Crossroads Cafeteria forgot my lunch $ 9.75 Eating Out Debit Card birthday gift from his parents. He paid tithing of $55 for the gift and Taxes
Hint My Boss first paycheck $ 67.50 Paycheck Direct Deposit
scholarship mone y he received.
For example, suppo se you lowered J uan's grocery b udget. Then you would
8,615.00 1/8 Textbooks
need to ex plain w hat things Juan sho uld b uy, ho w often he sh ould buy
th em, and ho w mu ch he should pay for them in order to make your new
1/8
The Government taxes paid directly from my paycheck $ 15.52 Taxes Payroll Deduction On January 5th, Juan took his friend Je nny out for ice cream, which cost Tithing
grocery plan for h im work. Provide detailed comments fo r each change $4.88. He paid a $5.00 Fast Offering at church on January 6th. On the first
you make. Fuel Center regular fill up for my car $ 20.00 Travel Credit Card
1/8
day of school, January 7th, he forgot his lunch and bought lunc h at the Travel
#4 1/8
The Church of Jesus Christ of Latter-
day Saints
blessings! $ 6.75 Tithing Check Crossroads Cafeteria, which cost $9.75. The next day he got his first Tuition
New Monthly Goal
Monthly Income BYU-Idaho Bookstore notebooks and pens $ 14.25 School Supplies Cash paycheck for $67.50, which had his taxes of $15.52 taken out directly. He
January 1/9 Miscellaneous
also put $20 worth of gas in his car and paid his tithing online for his
Step 6. Paycheck 135.00 Hint
1/9
BYU-Idaho Bookstore ear muffs $ 4.89 Miscellaneous Credit Card paycheck ($6.75).
Write a reflection paragrap h in the text box #6 (at least 3-5 sentences ) that Hint Crossroads Cafeteria lunch date with Jenny $ 19.38 Eating Out Debit Card
Savings Withdrawal 1/9
The next day, January 9th, he purchased notebooks and pens from the
res ponse to each o f the following reflectio n questions .
The Fun Center lazer tag with my roomates $ 32.00 Entertainment Credit Card
Total Monthly Income: 135.00 0.00 1/10 Bookstore for $14.25. Later he returned to buy ear muffs for $4.89.
1. What lessons have you learned in helping Ju an gain contro l of his
finances on this "Budgeting Cas e Stu dy"? Monthly Expenses January New Monthly Goal Hint Gauss's Market weekly groceries $ 75.32 Groceries Debit Card Rexburg was colder than he expected! He also paid for lunch at the
1/11
Crossroads Cafeteria with Jenny for $19.38. Friday, the 10th, he played
2. How might y ou apply these less ons that yo u have learn ed to yo ur own Local Bowling Place bowling and pizza (with Jenny and friends) $ 28.50 Entertainment Credit Card
Tithing 6.75 1/11 lazer tag for $32. Saturday, the 11th, he bought weekly groceries for
budg et an d/or teach others ab out these princip les?
Gauss's Market weekly groceries $ 148.22 Groceries Debit Card $75.32. That night he went to dinner and bowling with Jenny and some
Charitable Donations 5.00 1/18
friends for $28.50.
Bix Box Store gift for Jenny $ 58.39 Gifts Credit Card
Taxes 31.04 1/18
The Cellphone Company monthly cell phone bill $ 99.98 Cell Phone Debit Card On the 18th he bought groceries again for $148.22. He also bought a gift
Groceries 374.32 1/18
Text box for Part #5 for Jenny for $58.39 since he was out shopping already. Later he paid his
Explain your Monthly Budget Goals for Juan #5 Eating Out 34.01 1/23
My Boss second paycheck $ 67.50 Paycheck Direct Deposit
monthly cell phone bill online for $99.98.He was happy to get his second
here... The Government taxes paid directly from my paycheck $ 15.52 Taxes Payroll Deduction paycheck of the usual $67.50 on the 23rd and rec orded the $15.52 in
Cell Phone 99.98 1/23
taxes that was removed.
Travel 20.00 #2
Gifts 58.39 What Juan needs help with...

Entertainment 60.50 Now is where Step #2 begins. Help Juan finish typing in his last three
Miscellaneous 4.89
re ceipts for Januar y (shown to the left). He purchased "wee kly
groceries", put in his "regular fill-up for my car", and paid his
Total Monthly Expenses: 694.88 0.00 tithing, or as he would write in the description: "blessings!"
Cash Flow Summary January New Monthly Goal
One final thing needed for Steps #3 and #4...
To tal Cash Flow : (559.88) 0.00 Hint
Goal: Get this to zero. Goal: This must be ZERO
Juan Prior to the start of school, Juan saved up $8,615. He needs your help
in coming up with a Monthly Spending Goal to be sure he doesn't run
Juan's Final Savings Balance at the end of Two Semesters
out of money before the end of the first year of school. He needs a
N ew Savings Balanc e - Total of Savings Withdrawals:
Hint budget plan!
This should be zero or
great er.
Green means good.
R ed means bad.

Remember to document your changes.

Text box for Part #6 #6

Type your reflection paragraph here...

Spring 2021
 0

#3 Juan's Receipt Record

Number Correct 2-Semester Estimated Total
Semesterly Income January
50%
of your Grade 3 Financial Aid
Other Income
ERROR
ERROR
Date

1/3
Store
Gauss's Market
Details
start of semester groceries $
Amount
150.78
Expense Category
Groceries
Payment Method
Debit Card

Out of 44 Possible Estimated Total Semesterly Income: Correct 1/3

The Housing Place first semester housing contract $ 975.00 Housing Check

Semesterly Expenses January Estimated Total 1/3

BYU-Idaho Bursar's Office tuition $ 2,150.00 Tuition Debit Card

BYU-Idaho Bookstore textbooks $ 385.42 Textbooks Credit Card

Housing ERROR
Balanced Budget 1/3
Financial Aid Office scholarship money $ 500.00 Financial Aid Direct Deposit
Tuition ERROR
25%
1/3
Mom & Dad gift to me for starting school $ 50.00 Other Income Cash
of your Grade Not yet Textbooks ERROR 1/3
The Church of Jesus Christ of scholarship and gift tithing $ 55.00 Tithing (Special Income) Direct Deposit
School Supplies ERROR 1/3 Latter-day Saints

Frozen Berry Shoppe ice cream (date with Jenny) $ 4.88 Eating Out Cash
Tithing (Special Income) ERROR 1/5
The Church of Jesus Christ of Latter-
fast offering $ 5.00 Charitable Donations Cash
Estimated Total Semesterly Expenses: Correct 1/6 day Saints

Previous Savings Balance New Savings Balance Crossroads Cafeteria forgot my lunch $ 9.75 Eating Out Debit Card
Written Comments 1/7
My Boss first paycheck $ 67.50 Paycheck Direct Deposit
ERROR
25%
1/8
This part will be graded after you submit #5 The Government taxes paid directly from my paycheck $ 15.52 Taxes Payroll Deduction
1/8
of your Grade this Case Study to I-Learn.
Caution: 1/8
Fuel Center regular fill up for my car $ 20.00 Travel Credit Card

did you type in your explanations for your

new Monthly Goal for Juan as explained #4 1/8
The Church of Jesus Christ of Latter-
day Saints blessings! $ 61.75 Tithing Check
Monthly Goal (7 months)
in Step #5? Monthly Income January 1/9
BYU-Idaho Bookstore notebooks and pens $ 14.25 School Supplies Cash

Paycheck ERROR BYU-Idaho Bookstore ear muffs $ 4.89 Miscellaneous Credit Card
Also, did you type in a reflection 1/9

paragraph detailing what you have Savings Withdrawal ERROR ERROR 1/9
Crossroads Cafeteria lunch date with Jenny $ 19.38 Eating Out Debit Card
learned from this Budgeting Case Study as The Fun Center lazer tag with my roomates $ 32.00 Entertainment Credit Card
explained in Step #6? Total Monthly Income: 1/10

Monthly Expenses January Monthly Goal 1/11

Gauss's Market weekly groceries $ 75.32 Groceries Debit Card
Make sure you demonstrate the
Local Bowling Place bowling and pizza (with Jenny and friends) $ 28.50 Entertainment Credit Card
Quantitative Reasoning Process as you Tithing ERROR ERROR 1/11
give specific insights to Juan on how to Gauss's Market weekly groceries $ 148.22 Groceries Debit Card
Charitable Donations ERROR ERROR 1/19
live within your new budget goal for him.
Bix Box Store gift for Jenny $ 58.39 Gifts Credit Card
Taxes ERROR ERROR 1/19
The Cellphone Company monthly cell phone bill $ 99.98 Cell Phone Debit Card
Groceries ERROR ERROR 1/19
My Boss second paycheck $ 67.50 Paycheck Direct Deposit
Eating Out ERROR ERROR 1/23
The Government taxes paid directly from my paycheck $ 15.52 Taxes Payroll Deduction
Cell Phone ERROR ERROR 1/23

Travel ERROR ERROR #2 ERROR ERROR ERROR ERROR ERROR ERROR

ERROR ERROR ERROR ERROR ERROR ERROR

Gifts ERROR ERROR
Worth 22 Points Entertainment ERROR ERROR ERROR ERROR ERROR ERROR ERROR ERROR

Miscellaneous ERROR ERROR

Total Monthly Expenses: 2022 23-Jan

Cash Flow Summary January Monthly Goal 26-Jan

Total Cash Flow: ERROR Correct 27-Jan

This should be zero. This should be zero.

Juan's Final Savings Balance at the end of Two Semesters

ERROR
Must be zero or greater.
Note My Receipt Record
#4
Monthly Date Store Details Amount Expense Category Payment Method
Income January Goal
Income Label 1 0.00
Income Label 2 0.00
Customize these labels 0.00
Total Income: 0.00 0.00
Expenses January Goal
Expense 1 0.00
Expense 2 0.00
Expense 3 0.00
Customize these labels 0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Total Expenses: 0.00 0.00

Cash Flow Summary January Goal

Total Income 0.00 0.00
Total Expenses 0.00 0.00
Monthly Cash Flow: 0.00 0.00