Project 2: Financial Planning

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Math 111 – Everyday Mathematics
You’ve likely heard the saying, “Those that fail to plan, plan to fail.” This is
particularly true when it comes to financial planning. If you haven’t already asserted
your financial independence (or been coerced into it), you will soon. The purpose of
this second project is to think about and plan for that looming financial independence.
For this second project, you should make a financial goal and create an action plan on
how you propose to achieve that goal. Such a goal could include (but is not limited
to):

  • Establishing a budget for your future employed self;
  • Buying a house;
  • Saving for retirement;
  • Paying off college debt;
  • Buying a new/used car.
    Once you have established your goal, create an action plan to achieve such a goal.
    How much do you expect to make in your future job? What do your future expenses
    look like? How will you save for your financial goal? Will you open an account or
    make investments to help you achieve your goal? The more detailed you are in your
    analysis, the better.
    Your project report should include your 2-3 page (typed, single space, 10-12 pt font)
    action plan with the following information:
  • A clear statement of your financial goal and why this is important to you;
  • Your calculations/thought-process outlining how you will achieve your goal
    (must include your source of money, such as researching typical pay for
    your future job);
  • Concluding remarks summarizing your findings;
  • If appropriate, an Excel workbook attachment of your calculations.
    For full credit, make sure you are very detailed, and that you include each of the
    4 bullet points listed above. If you have any trouble establishing a goal,
    performing the necessary analysis, or putting your thoughts together in written
    form, please feel free to ask me for help!