MIS 388 Budgeting Homework

A Sam Houston State University student needs some help managing her funds and has heard that you are taking an MIS course. She asks you to create a budgeting tool that would allow her to determine if she has sufficient money to make it through the calendar year 2008.

Currently her income is as follows:

• Each December she works at a retail store and makes $500
• During the summer she works as a forklift operator and makes $1,200 a month from May 15^th through August 15^th. She gets paid semi monthly on the 15^th and last day of month.
• She has been awarded a scholarship that pays $1,000 on October 1^st and again February 1^st.

Her expenses are:

v Monthly –

§ Dorm $300

§ Food $200

§ Car $100

v Her tuition and books are payable in August and January and run about $1,500

v Car insurance is $950 and is paid in October

v Holiday gifts are $400 and are purchased in December

She will have $3,000 (a gift from Grandpa) in her bank account on January 1, 2008.

You are to create an Excel spreadsheet that shows the monthly incomes and expenses and what her cash over/short is for 2008. As a check you should find that she is short $2,450 and will need the money starting in August.

Attach the .xls file to an e-mail and send it to me with the subject “John Doe (9:99 class)– Budgeting homework”. Or you may turn it in on a disk labeled with your name and class information.