In the course “Budgeting” discussion you selected the budgeting method (envelopes, calendar, spreadsheet, or app) that you thought would work best for yo

Report Content – In your report, you will describe each of the six components of the “9

Things” Financial Planning Process (FPP) and include specific personal examples for
each component. (FFP on page 2.)
In the course “Budgeting” discussion you selected the budgeting method (envelopes,
calendar, spreadsheet, or app) that you thought would work best for you. Briefly restate
which budgeting method you selected and why.
• Research – Next, research and compare three specific budgeting tools in greater
detail for your chosen budgeting method. For example, if you selected the spreadsheet
method, research 3 different specific types of budgeting spreadsheets. Use the SIFT:
Source Analysis method to be sure you are using reputable sources in your report
(included in this assignment).
• Evaluate – Describe and compare at least 3 key features of each budgeting tool, such
as the pros and cons, price, features, and any limitations discovered. Elaborate on your
research through a detailed discussion of relevant facts and/or expert opinions
about the products/features (not user reviews). Be sure to cite your work where
appropriate.
• Apply – Select the one specific tool or product based on your evaluation and
explanation why this will best meet your personal needs.
Next, you will create a realistic personal budget (weekly, bi-weekly, by paycheck,
monthly, or by semester) using the tool or product you’ve selected. For example, if you chose
the app method, download the app you selected and create your realistic personal budget in
the app. Be sure your budget includes your actual or estimated income and expenses (note
financial aid, scholarships, and loans refunded to you may be listed as income if you use that
money to pay any of your expenses as well as parental allowance or money received from
others). Do NOT include your tuition, fees, or books in this budgeting assignment. Include
your expenses (bills) such as housing, transportation, cell phone, etc. If your personal budget
includes only discretionary expenses, then budget for at least 5 expense categories in your
actual budget.

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