This is the ninth Capstone project installment as outlined in Module A located in the Learning Modulessection. The purpose of this installment is to prepare an annual Budget and an estimated Balance...

This is the ninth Capstone project installment as outlined inModule Alocated in theLearning Modulessection.

The purpose of this installment is to prepare an annual Budget and an estimated Balance Sheet in connection with your Capstone lifestyle financial plan. Begin by downloading theCapstone #9 Annual Budget and Balance Sheet Excel spreadsheetand delete or add any categories that you believe are necessary for your Capstone lifestyle. Next, update the spreadsheet as follows:

1. Click on the Budget tab and complete the expense categories.(30 points)
   
   
   
   
   1. Enter yourANNUALcost for the vehicle loan, mortgage, property taxes, and insurance based on the amounts determined in your prior installments.
   
   
   2. Enter yourANNUALestimatedamounts for the other categories (an example is provided in the textbook if you need ideas for amounts).
   
   
   3. Based on your surplus or deficit, refine your expense numbers as necessary tomake sure that you have a surplus of at least $6,000, where $3,000 will be placed in savings and $3,000 will be used for investing. This is a normal part of the budgeting process.
      
      
      
      
   
   
   
   


2. Click on the Balance Sheet tab and create one to include your assets, liabilities, and net worth (an example is provided in the textbook).(20 points)
   
   
   
   
   1. YourAssetswill include your savings and investment amounts from your budget and the value of your vehicle and home determined in your prior installments. To be as realistic as possible, you should also include your best estimate of the value of any personal property (e.g. furniture, clothing, etc.).
   
   
   2. YourLiabilitieswill include the balance of your vehicle loan and home mortgage from your prior installments. You may also include the balance(s) for any other debt that you think would be realistic such as student loan debt, home furnishings loan, etc.
   
   
   3. The final step is to calculate and enter yourNet Worth(Assets - Liabilities).