Budget Report
Budget Report Sample
Due: November 18th, 2011
Part I (20 points)
1. ClearCheckbook Spending Patterns and Graphs
Over the past few months you have been entering data into www.clearcheckbook.com
i. By looking at representations of your spending over the past 3 months, comment on your general spending pattern. Do you see room for improvement and in which areas? Justify your answer and provide a pie chart for each month.
* For the Pie Chart, Go to ClearCheckbook – Click on Reports – Click Categories – Click Pie – Take a screen shot of the chart
** Remember that there must be three charts present for each month (September, October & November)
After looking at my general spending over the past few months, I observed that it has declined for the most part. For August, June, and July I spent a total of $300 (40% for June, 28% for July, 55% for August, and 38% total) each month for a total of $900 for the term. My housing expenses are the same for each month because this category includes rent, utilities, and cable, which are all fixed costs because I am under a one-year contract for each item. Since I am under a contract obligation, then I cannot improve upon this expense until the term of the contract expires.
For the term I spent a total of $530 on groceries alone. This expense was 22% of my total expenditures (32% for June, 36% for July, and 27% in August), and is definitely an area that can use some improvement. The amount I spend on groceries does vary from week to week, but I would prefer to keep these costs to a minimum since I am under a budget. Also, I spent more on groceries in June ($238) and July ($380) than in August ($150) because my roommates, who I split the grocery bill with, went home after the May semester concluded.
For the General Merchandise category, I spent a total of $237.54, which is 10% of my total expenses. I spent relatively large amounts in June and July ($100 or 13% and $130 or 12% respectively) because I
Due: November 18th, 2011
Part I (20 points)
1. ClearCheckbook Spending Patterns and Graphs
Over the past few months you have been entering data into www.clearcheckbook.com
i. By looking at representations of your spending over the past 3 months, comment on your general spending pattern. Do you see room for improvement and in which areas? Justify your answer and provide a pie chart for each month.
* For the Pie Chart, Go to ClearCheckbook – Click on Reports – Click Categories – Click Pie – Take a screen shot of the chart
** Remember that there must be three charts present for each month (September, October & November)
After looking at my general spending over the past few months, I observed that it has declined for the most part. For August, June, and July I spent a total of $300 (40% for June, 28% for July, 55% for August, and 38% total) each month for a total of $900 for the term. My housing expenses are the same for each month because this category includes rent, utilities, and cable, which are all fixed costs because I am under a one-year contract for each item. Since I am under a contract obligation, then I cannot improve upon this expense until the term of the contract expires.
For the term I spent a total of $530 on groceries alone. This expense was 22% of my total expenditures (32% for June, 36% for July, and 27% in August), and is definitely an area that can use some improvement. The amount I spend on groceries does vary from week to week, but I would prefer to keep these costs to a minimum since I am under a budget. Also, I spent more on groceries in June ($238) and July ($380) than in August ($150) because my roommates, who I split the grocery bill with, went home after the May semester concluded.
For the General Merchandise category, I spent a total of $237.54, which is 10% of my total expenses. I spent relatively large amounts in June and July ($100 or 13% and $130 or 12% respectively) because I