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CAU Personal Finance Balance Sheet

CAU Personal Finance Balance Sheet


Create a personal financial statement (balance sheet) and conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) of your financial situation to gain financial literacy and self-awareness. Here’s an assignment outline that combines these elements:

Objective: To help students create a personal financial balance sheet using spreadsheet software and encourage reflection on their financial situation, strengths, weaknesses, opportunities, and threats.

Assignment Description:

Part 1: Balance Sheet Creation (40 points)

Gather Financial Data: Collect data on your financial assets and liabilities. This data can be for a specific date or period. Include sources such as bank statements, investment statements, loan statements, and any other relevant financial documents.

Create a Spreadsheet: Use spreadsheet software (e.g., Microsoft Excel, Mac Numbers, Google Sheets) to set up a new spreadsheet. Label it “Personal Financial Balance Sheet.”

Assets: On the “Personal Financial Balance Sheet” spreadsheet, create a section for listing your assets. Include categories such as:

Cash and Cash Equivalents (e.g., savings accounts, checking accounts)

Investments (e.g., stocks, bonds, mutual funds)

  1. Real Estate (e.g., home, rental property)

Personal Property (e.g., car, jewelry)

  1. Other Assets (e.g., retirement accounts, business interests)

For each asset category, enter the current market value as of the specified date or period. Use spreadsheet formulas to calculate the total value of each category and the overall total for assets.

  1. Liabilities: Create a section for listing your liabilities, including:

Credit Card Debt

Student Loans

  • Mortgage
  • Car Loans
  • Other Debts
  • For each liability, enter the outstanding balance as of the specified date or period and the applicable interest rate. Use spreadsheet formulas to calculate the total liabilities and the net worth (assets minus liabilities).
  • Part 2: SWOT Analysis (25 points)
  • Strengths: In a separate section of your spreadsheet, list your financial strengths. These can include your stable income, low debt, good credit score, or any positive financial attributes you possess. Explain why each item is considered a strength.
  1. Weaknesses: List your financial weaknesses. These can include high levels of debt, low savings, inconsistent income, or any financial challenges you face. Explain why each item is considered a weakness.

Opportunities: Identify financial opportunities that you can capitalize on. These could include the potential for higher income, investment opportunities, or ways to reduce debt. Explain how you plan to take advantage of each opportunity.

Threats: Identify financial threats or risks that could negatively impact your financial situation. These could include job instability, health issues, or economic downturns. Explain how you plan to mitigate or respond to each threat.

  • Part 3: Reflection (15 points)
  • Reflect on Your Financial Situation: Write a brief reflection on your overall financial situation based on the balance sheet and SWOT analysis. Discuss the key takeaways from your analysis, including what surprised you and what confirmed your expectations.
  • Set Financial Goals: Based on your analysis, set three specific financial goals for the short term (1-2 years) and three for the long term (5-10 years). Explain why you’ve chosen these goals and how achieving them will address your weaknesses or leverage your strengths.

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