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Special Edition for Students of Personal Finance UH Summer
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t Your BayRock Planning Portal
By now, you should have completed the following steps:
- Congrats, You're Enrolled in Money Study Group!
- Now, Register for your Online Planning Portal at BayRock
- Download the Mobile App (optional)
Week 2 Capstone
Get Started with Your Plan by Completing 6 Data Cards
- Family Profile
- Income (remember to do a little research to come up with a good estimate of your FUTURE income, assuming you’re out of college and working in your chosen vocation.
- Savings
- Net Worth
- Expenses - Detailed Worksheet (remember to consider all of the expenses that will be a part of your “Budget” after you graduate and are living on your own.
- Goals - For the Capstone, you will list all of the goals you want to achieve in the next 25 years, but don’t worry about getting them all listed for this assignment. Just list the goals you know you want to include right now.
Moving forward, we’ll talk about the Capstone Assignment in our Weekly Zoom Meetings every Tuesday at 10 am.
Part Three: Review Your Detailed Expenses (in your planning portal)
Do your best, but don’t spend too much time making your budget perfect — you’ll spend more time working on your income and expenses later. For now, just jump into your financial planning portal and update your income and the detailed expenses as seen in this week’s video tutorial for this assignment.
When I grade this assignment, I’ll be especially interested in seeing your “Income and Expenses” so make sure to grab a screenshot of this section of your plan.
Want Full Credit?
- You will get full credit for this assignment only IF you provide screenshots from your planning portal.
- Remember to create your budget categories based on you paying all your own expenses (even if in reality your parents are paying all of your current expenses).
- As you build your financial plan this semester, you will be doing a little research to come up with real life expectations regarding the following financial planning issues. Feel free to comment on any of these items as you complete this week's assignment:
- How much will you earn after you graduate (assuming you get your dream job)
- How much will you spend to purchase your first home
- How much will you spend in all categories of your budget
- How much will you save in an Emergency Fund
- How much will you save for Retirement
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