THIS ASSIGNMENT WILL REQUIRE YOU TO BS ALL OF THE DATA, YOU WILL COMPLETELY MAKE IT UP. i AM A COLLEGE KID WHO DOESN’T SPEND A LOT OF MONEY, SO THE DATA SHOULD BE RELATIVELY EASY TO BS. There is two parts to this assignment and I need both done as well as possible. There is a template for Part A that you can and should use to help you.
PART A:
For this assignment, you will need to track all your expenditures from April 21 to May 5, 2024. Log the date, the item description, and the cost. Next to these, categorize the item into one of four categories: necessities, discretionary, outright luxuries, or waste. Finally, label this purchase with either a P (for a planned purchase) or an I (for an impulse buy). A planned purchase is one you intended to make. An impulse buy is a purchase you had not intended to make. If it wasn’t on your shopping list, it most likely was an impulse buy.
As for the four categories, note that these are largely subjective. For example, although all of your utility bills for the month might be necessities, it may be that your food items were not. Yes, eating is a necessity, but you may grab a candy bar from a snack machine and decide it was a luxury. In another instance, that candy bar may be a necessity or a waste. The same is true of your weekend outings. Alcohol might be categorized in each of the four labels (necessities, discretionary, outright luxuries, and waste) during your month of spending depending on when and how you purchased it.
The following are to be included:
Take all the purchases logged in your notebook and enter these into an Excel spreadsheet, color-coded by category (green = necessities, yellow = discretionary, red = outright luxuries, and black = waste).
Include the date, the item description, and the cost.
In a separate column, include whether the item was an impulse buy (I) or planned purchase (P).
Total the amount spent in each of the four categories.
Total the amount spent on impulse buys and planned purchases.
Include a pie chart showing the expenses in the four categories.
Include a pie chart showing the impulse buys versus planned purchases.
PART B: Write a 2-page analysis (12 point, Times New Roman, double-spaced) of your spending for the month. (Note: This does not say 1 3/4 pages or 2 1/4 pages. Write 3 or 4 pages and then edit it down so that the result is a concise 2-page paper.)
The following are to be included:
Include all of the following:
Rate yourself from 1 to 10 (1 being poor, 10 being excellent) on your spending habits, and provide a description of how poor or excellent your spending habits are.
Analyze how much you spent on each of the four categories: necessities, discretionary, outright luxuries, and waste. Which category makes up the most? The least? Why might that be so?
Identify where and when you seem to spend the most money. What are the places or types of purchases? What times of the month or days of the week do you spend more? When do you spend less? Why?
Analyze how much money is planned to be spent as opposed to impulse purchasing. What percentage of purchases are planned? Impulse?
What does your vacation spending look like? (Note: This assignment is designed to specifically include your spring break party binges, so while you’re getting drunk in Mazatlan, keep track of the amount spent to raise your spirits.)
Finally, how can you improve your spending habits?
Note: All six of these areas MUST be covered, but add personal commentary and evaluation where appropriate (still keeping yourself within the 2-page limit). It is, after all, your personal assessment of and reaction to your spending choices.
MORE DETAILS AND THE TEMPLATE ARE LISTED IN THE FILES BELOW
