FIN 102 - Exhibit 1 Financial Goal S

Financial Goal Setting

Instructions:
Name: Renzo Gonzales 1 Type your name in cell B4
Section: 2 Type your section in cell B5
3 Save the document with your name: Exhibit 1 - Fin
4 You are expected to fill out all yellow cells (if your
5 The data input should reflect your own personal fi
6 All numerical values are listed in US Currency
7 Click on the "E1-Financial Goal Setting" tab and com

Notes:
Why set financial goals? Financial freedom is availa
and learn and (b) has the desire and discipline to m
1
will be the lot of those who lack the knowledge, th
financial decisions.
 Financial Goal Setting
Instructions:
cell B4
n cell B5
with your name: Exhibit 1 - Financial Goal Setting-[Last Name First Name]
o fill out all yellow cells (if your answer is 0, then put 0) -
uld reflect your own personal financial goals
s are listed in US Currency
ancial Goal Setting" tab and complete.

Notes:
oals? Financial freedom is available to everyone who has (a) the health to work
as the desire and discipline to make good financial choices. Financial bondage
ose who lack the knowledge, the discipline, and good judgment to make sound
FIN 102 - Exhibit 1 Financial
Financial Goal Setting

Goal

Target date
Action needed

Measurement

Goal

Target date
Action needed

Measurement
 Financial Goal Setting

Short Term (less than 1 year) Annual (Yearly)

To save $930 for a new phone. To save $1,900 to move to another
country.

To be done in six months. Reach that amount in twelve months.

Open a new bank account in order to
use that bank account for savings.
Calculate the amount to be saved
assuming interest rate of 6% for 6
months. Save $155 each month.
Calculate the amount to be saved
assuming interest rate of 6% for 6
months. Save $158 for 12 month

Review each month if the insterets has Calculate what percentage of the total
been added to the bank account and $1,900 I have already saved.
spend less to have enough money for
the rest of each month.

The following is an example of how to complete this assignment.

Use your own specific financial goals. One goal for each type (short term, annual, and long term).

Short Term (less than 1 year) Annual (Yearly)

To save $1,200 for tuition for next Save $750.00 for an annual vacation.
semester.

To be done in eight months. Begin making payments this month.

(a) Calculate the amount to be saved
assuming interest rate of 4% for 8
months.
(b) Use PMT formula.
($148.26)
(c) Save 148.26 per month for 8 months.(c) Save 61.36 per month for 12 months.
Note: You will save a total of:
$1,186.07
and earn interest of:
$13.93
Review statement to verify that
payment was made each month.
(a) Calculate the amount to be saved
assuming interest rate of 4% for 12
months.
(b) Use PMT formula.
($61.36)
Note: You will save a total of:
$736.35
and earn interest of:
$13.65
Set up an automatic deduction from
my account to save $61.36 per month
each year for vacation. Monitor the
statement to be sure the amount is
properly deducted.
g

Long Term
Save about $10,000 in order to live for 6
months in USA and start a new life there.

To be done in 4-5years.
I'll start by creating a detailed budget that
outlines my income, expenses, and
savings goals. I'll identify areas where I
can cut back on spending to allocate more
money towards my savings goal.

I'll review my progress against my yearly

savings targets to ensure I'm pacing
myself appropriately towards reaching
$10,000 over 4-5 years.

ort term, annual, and long term).

Long Term (longer than 2 years)

Set up a certificate of deposit (CD) to save
$15,000 for a down payment on a home.

To be done in 6 years.
(a) Calculate the amount to be saved
assuming interest rate of 6% for 6 years.

(b) Use PMT formula.

($173.59)
(c) Save 173.59 per month for 6 years.
Note: You will save a total of:
$12,498.72
and earn interest of:
$2,501.28
Set up a CD with an automatic monthly
payment of 173.46. Monitor the statement
to be sure the amount is saved each
month.