Answer To: Create a pro forma post-graduation budget in Excel. Evaluate your budget and submit one Excel file...
Pranjal answered on Jun 25 2021
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...