Homework

Financial Plan Draft 1

Start to create a financial plan.   Your financial plan should be a professional looking document.  Do the Building Your Own Financial Plan at the end of Chapter 1.   Do not use the sheets at the end of the chapter but create your own document.    The plan should be a typed document using this template.  Part of your grade will be based upon the professional look of the plan.  I do not mean that it should be in a fancy binder, a stapled document is preferred.  It should have a cover page, headings, paragraphs/bullet lists, no spelling or grammar errors.

This will be the start of your financial plan and will be updated throughout the course.  I expect you to follow something like the outline below.  Include other items, if you think appropriate.  For your convenience, I have created a Word template that you can use.  Financial Plan Template

Financial Goals

Short-term Goals
    What are your needs?  Be specific about amounts and timeframes.
    How much money do you need?

Medium-term Goals
     What are your needs?  Be specific about amounts and timeframes.

Long-term Goals
     What are your needs?  Be specific about amounts and timeframes.
    Be sure to include an amount for retirement.

Career Goals

Career 1

Career 2

Deliverable:

Draft financial plan.

Grading Rubric:

  A B C D F
Professionalism Typed, stapled, no spelling or grammar errors.  Easy to read statements.
 Typed, stapled, no spelling, minor grammar errors.  Easy to read statements.
 Typed, stapled, minor spelling, grammar errors.  Easy to read statements.
Not stapled, spelling and grammar errors  Statements are not clear.
 Not typed or stapled.  Grammar and spelling errors.  Statements are not clear.
Financial Goals Good, realistic goals for short-term, medium-term, and long-term.
Gives specific dollar amounts and timeframes.		 Realistic goals for short-term, medium-term, and long-term.
Gives dollar amounts or timeframes but not both.		 Simple goals for short-term, medium-term, and long-term. 
No dollar amounts or timeframes.		 Simple goals.  Little thought. No thought.
Career Goals Did good research on two careers. Did research on one career. Talked about two careers. Minimal thought on two careers. Minimal thought on one career.
Decisions Good thought on how career impacts your financial goals. Some thought on how career impacts your financial goals. Thought on how career impacts your financial goals. Minimal thought on how career impacts your financial goals. No thought on how career impacts your financial goals.