I would also like to include a tax bracket system, where if the user exceeds a certain amount of income, they would be taxed more
Group Project: Financial Planner Application Introduction: The purpose of this project is to create a Financial Planner Application using Microsoft Excel and VBA that assists in managing and planning your finances throughout university and beyond. The application should help you track your expected cash inflows (co-op wages, wages from part time jobs, RESP withdrawals, student loans, gifts etc.) and cash outflows (tuition, rent, utilities, food, supplies, phone, entertainment, savings/investments etc.). This app should help you keep your finances organized for a least the next 5 years. Start file: I have created a very basic application that does not have much functionality. Your task is to build additional functionality and personalize it for yourself. The start file has worksheets to store data and a user form that will collect information and store it in a worksheet. Requirements: 1. You should construct your application using Excel and VBA 2. Create any additional worksheets required for data acquisition and summary purposes that you want (e.g. Savings, Investments, Income Expenses etc) 3. Create additional forms that you think you may need for data collection, updating, deleting etc. a. These forms should include buttons, text fields, drop-down lists etc. Please use at least at least one of each of these controls in the application. 4. There should be buttons on the worksheets to show forms, run macros etc. 5. You should demonstrate that you can process data on the worksheet. At least sub must use and compare dates. 6. You should incorporate loops and if statements in your code. 7. You should have a separate “Financial Goals” Worksheet. Check to see if your plan is meeting your goals. 8. Have a sub that will extract some of the data from your income and spending into an output sheet. 9. Incorporate charts to show trends in your data. 10. Create a separate “Financial Advice” worksheet. This worksheet should advise you on whether you are meeting your financial goals. 11. You should also perform some sensitivity analysis: a. What factors affect your financial plans? b. How can these factors change? c. How will you incorporate unexpected changes into your model? 12. Note: You should incorporate error checking of all input into the model. This is just a list of the minimum requirements. You are free to make this as fancy and as in-depth as you want. Deliverables: 1. Project overview: (Due: Sunday, March 12th at 11:59 pm) a. List out all the functionality that you will incorporate into your application with a brief description. Also, if possible list the subs/functions you will incorporate and how they work together. I’m not going to hold you to any of this, I just want to get you thinking about the overall functionality and design of the project. b. Come up with a project timeline. A list of tasks, who will perform each task and a timeline for completion of each task. You could show these in the form of a table. 2. Final Project: (Due: Friday, April 14th at 11:59 pm) a. Submit your financial planner application b. Submit a project report that introduces and explains your application including the sensitivity analysis. Make sure the explain the functionality and design of your project in your report.