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SCENARIO: Your monthly budget is going through some changes over the
next three months. The good news is that your income has increased because of
your strong performance at work. 
However, health care and miscellaneous costs have also gone up. You
will need to reallocate your monthly budget based on these changes. The
changes are represented by embedded formulas in the MONTHLY BUDGET tables
above, located inside the shaded cells.
STEP 1: Enter the previous values you obtained from the Unit 2
Touchstone into the MONTH 1 BUDGET. Important: Before you do, be sure to divide each dollar amount by 12.
Remember, the Unit 2 Touchstone was an annual basis while this Touchstone is
a monthly basis. If you no longer have the previous values, create new ones.
Remember to start by entering your income and be sure the MONTH 1 BUDGET
balances.  
STEP 2: Now create your MONTH 2 BUDGET and your MONTH 3 BUDGET above.
Do not change the predetermined costs for Health Care in the second month or
Miscellaneous in the third month. Do not modify the income in either month.
Remember that your monthly income must equal your monthly expenditures
(including savings). Look ahead to step 3 to see how you can use formulas for
proper balancing. 
STEP 3: Your MONTH 2 BUDGET and your MONTH 3 BUDGET may or may not be
balanced. To check, do the following:
•  Enter a formula to calculate your
total expenditures. Adjust your expenditures until the total equals your
monthly income.
•  Next, enter formulas in the
percent column to calculate each expenditure as a percentage of the total
expenditure.
STEP 4: Using the tools in Excel, make a graph for each of the three
budgets to show your spending allocation. You may use a pie chart, column
chart, bar chart, or some other graph type. Review the tutorial in Unit 1
called Data Visualization if you need a refresher on graphing. If your
embedded graphs block your view, move them off the work area, either downward
or to the right. 
STEP 5: Fill in the table for SAVINGS PROGRESS located at the top right
of this spreadsheet:
•  Enter your monthly savings from
steps 1-4. The cumulative savings column will calculate automatically.
•  Recall your total savings goal
from the Unit 2 Touchstone. In the last column, record how much more money
you need to save in order to reach your goal.
•  If you can’t recall your savings
goal, create a new one so you’re able to complete the table.
STEP 6: Using the tools in Excel, make a graph that shows your
incremental progress toward your savings goal based on the data in the
SAVINGS PROGRESS table:
•  Select a graph type that best
illustrates your progress. Move the graph off the work area if it obstructs
your view.
•  Finally, using steps 1-6 as a
reference, complete the REFLECTION QUESTIONS on the right side of this
spreadsheet.

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