Conducting a personal financial analysis is one way to check your progress toward your financial goals and see how well you have stayed on track with your finances over a period of time. Using technology can help you stay organized throughout your analysis, as well as help you visualize financial data. Visual data display will enable you to observe general trends in your personal finances and communicate them effectively.For this assignment, you will be using Excel to analyze and display personal financial data. You can also apply the approach to learning and working with Excel software in this course when using other technology tools in your life and career.Practice the technology skill and build your confidence by conducting a personal financial analysis using Excel to organize three monthly budgets and visualize this financial data using graphs or charts. You will discuss the results of your financial analysis in the provided Word template, including progress toward your selected financial goal from your Week 5 Assignment.PreparationRead the following scenario to understand the context for this assignment. Read the Week 7 Assignment Excel Template [XLSX] and the Week 7 Assignment Word Template [DOCX]. These completed templates will be your deliverables for this assignment. Make sure you have populated all sections of the Excel template and are providing at least one paragraph of 4–7 sentences per section in the Word template.ScenarioThr
ee months have passed since you created your initial financial plan (for the Week 5 Assignment). A friend who is studying to become a financial advisor recommends that you check your progress toward your savings goal. She volunteers to help you conduct a financial analysis of your personal budget over three months. You meet with your friend each month to go over your analysis. Through her studies, she’s learned that people understand budget concepts better when they are represented as visuals, so she asks you to create some.For this assignment, you will make three monthly budgets. Your income increases each month. The formulas for these increases have been placed in cells H7 and M7 of the Week 7 Assignment Excel Template [XLSX]. Additionally, in the Month 2 Budget and the Month 3 Budget, cells H16 and M12 have been populated with a formula to represent an unexpected expense in that category for the month. Do not modify these cells. For Months 2 and 3, you will need to reallocate your budget around your increased income and unplanned expenses.InstructionsUsing what you have learned about budgeting, Excel, and creating data visualizations, complete the Week 7 Assignment Excel Template [XLSX]e. Then complete the Week 7 Assignment Word Template [DOCX] to explain and reflect on the process and results of your personal financial analysis. Remember to turn in both completed templates when finished.For this assignment, complete the following steps: