PROJECT: Financial Planning for Janella

My Group Members:

You have been hired!

Janella Sims, a 28-year-old professional in your city has hired your group as her financial advisors. She recently started a new job and needs a budget to match her annual salary.

During the final RTSWS session, your group will be presenting your proposed budget and recommendations to Janella on her living and spending choices.

The next page shows the information she has provided you. You may use your phones, tablets or laptops to research and decide on the remaining expenses.

TO DO:

 Using Janella’s pay stub and notes, determine Janella’s monthly take home pay and add it to her monthly budget on page 40.

 Using the expenses listed on Janella’s monthly budget, define each as fixed, variable

or occasional.

 With any extra time, begin to fill in Janella’s budget with her monthly expenses.

TIPS:

• Be aware of the difference between Janella’s wants and her needs.

• You may not be able to meet all of Janella’s financial goals, so pick the ones you think are best and be ready to share why.

• Be creative!

• Janella shared with you her most recent pay stub (shown below)

• She receives an annual salary of $68,000 and she is paid bi-weekly in the amount of $2,615.38 (68,000 / 26 weeks per year = 26,615.38)

Notes from your meeting with Janella: