Assignment # 1 - 5



Assignment # 1 - 5

Assignment # 1: Budget Assignment

There are many great budgeting and financial planning tools on the market today, in fact, we have several budget planners that I have personally reviewed and do highly recommend. These budget planning programs can be extremely useful and will help you stay on track year after year, but the most important thing is that you find something that works well for you and your family.

Budgeting Worksheet

Basic Budgeting Worksheet help you keep track of your monthly expenses and manage your income.  The worksheet is most helpful when planning the household budget. Another big advantage is that these worksheets can be printed out and distributed among family and friends, that are look for budgeting assistance.

Debt Worksheet

The Debt Worksheet is provided for jotting down a list of debtors and creditors, additionally a Monthly Spending Worksheet is also available to track expenses incurred monthly. Worksheets also include an Annual Budget Worksheet. This is most helpful in budgeting annual expenses including the taxes, school tuition, warranties, insurance etc. These worksheets are best to track timelines and other deadlines that are approaching and require immediate financial decision making.

My Personal Experiences

Financial planning tools such as 'better budgeting' and 'consumer credit' etc are great avenues to plan and budget financial activities on a periodic basis. These tools have been insightful in providing me a better analysis of my monthly expenses. Moreover, it has given me insights on how and where do I need to moderate my spending so as to save more. As such these tools are recommended for everyone that looks to plan their financial future.

Assignment # 2: Energy Audit

Do a thorough electrical energy audit of your home, apartment, or dormitory. That is, determine the energy used in a typical month by each of your electrical appliances, and your total energy usage per month for electricity. Based on the cost of electricity in your area, calculate the average monthly cost for your electricity. After studying your findings, propose at least three energy conservation strategies that you would consider implementing to save money and energy. Discuss the pros and cons of each strategy. There are Volt-Amp to Watt converters available on the internet, use Google.

The assignment asked for analysis on the costs of electricity in my area of residence, as well as evaluating my monthly energy consumption and the individual energy costs of each of my electronic appliances. This analysis and calculation have been most helpful in pinpointing me towards valuable conservation strategies, which I can implement to save energy and monetary resources. These strategies are:

I should switch to usage of LED based lightings. These lights are energy efficient and save a lot of dollars. As such it reduces the electricity bill and lasts longer, which reduces future expenses on lighting based capital expenses.

The wiring in my house uses less efficient materials. These materials are not ideal electricity conductors and thus lead to energy loss, wastage and increased costs. This has led me to consider a ...