Math 201 Portfolio Project Project Part 1 Management – My degree Human Resource Specialist

Math 201 Portfolio Project Project Part 1 Management – My degree Human Resource Specialist


You are a recent graduate from Bryant and Stratton College and currently working in your field of study. The forecast for your industry is looking very strong. Though you plan on keeping your full-time job and living in the area that you are currently living in, you would like to venture out and buy a house. To do this, you need to secure a bank loan. You’ve done your research and understand mortgages are among the toughest lines of capital to obtain.  A lender will only lend money to you if they have a reasonable expectation that the loan will be repaid. Since you don’t yet have business credit, your personal credit will play a large role in getting approved for a loan.

You need to thoroughly understand your finances to prepare your paperwork for the bank loan. The bank will expect a full financial picture of your personal assets. It is also crucial to determine exactly how much of a mortgage you will need. Most importantly, going through this process will help you assess whether you are ready to apply for your mortgage today or at some point in the future.


You will use information from your budget (income, expenses, and savings) to calculate ratios and proportions to analyze your financial situation and determine if you are ready to apply for a mortgage.

Requirements and Formatting

Download the Portfolio Project Template, which is provided for you in your course. . You will use this document to complete Parts 1, 2, and 3. You will add to the template each submission and then submit a completed template at the end of the course. You must save the file to your computer as MATH201 – Portfolio Project – Your first and last name.

The template is formatted as follows, and you must ensure that it remains that:

  • APA formatting
  • Title Page
  • Times New Roman or Arial 12-point font
  • 1-inch margins
  • Page numbers in the top right corner

Deliverable items for the Portfolio Project will be required at different points during the course. Details for each submission are included below in the Deliverable Descriptions.

Deliverable Descriptions Week 2: Part 1 – Budget Basics

  • Due by the end of Week 2 at 11:59 pm, ET.

Download and use the Portfolio Project template provided and complete Part 1 – Budget Basics of your Portfolio Project. This first part is all about budgeting basics and setting up your monthly net pay, expenses, and expense ratios. Once Part 1 is completed, save the file as MATH201 – Portfolio Project – Your first and last name.

The highlighted areas should be deleted before submission as they are directions. Introduction

  1. In this space provide three to five sentences on the purpose of this portfolio project. Why is this project important? What will it teach you? What are some calculations the reader might expect to see in this project?

Part 1 – Budget Basics

Budget Basics

  1. Monthly Net Pay
  1. In the table below, state your profession and provide your annual income (remember for this scenario, you have recently graduated and have been working in your industry for 5 years). You can research the median annual income for your profession based on the state in which you are working or just the median annual income for your state.
    • The links below will assist you with your research on your profession.
      1. Occupation Handbook and Salary Information
      2. Median Income Information

Use your annual salary to determine your Gross Monthly Pay and Monthly Net take-home) Pay. Your net pay is your gross pay minus income taxes, FICA taxes, and benefits, including health insurance if provided. Realistic net monthly wages are about 20% less than gross monthly wages. Enter your income information in the table below:

  1. Monthly Expenses
  1. Calculate your monthly expenses for each category below and fill in Table 2: Monthly Expenses. You can share real numbers, or you can create a hypothetical experience with realistic estimates:

Table 2: Monthly Expenses

Fill in each category with the monthly amount you would like to budget. If you do not need a sub-category, you can delete it. Feel free to add sub-categories if you need to. If the category is on an “as need” basis, budget a certain monthly amount to go towards that category. (For example, I don’t get an oil change each month, but I might want to budget $30 each month so I have money for when I do need an oil change.)

Note: Total budgeted amount column should add to your entire Monthly Net Take-Home Pay. Remainder of Monthly Net Take-Home Pay should be calculated into the Emergency Fund category.

Here are some realistic estimates for each category to use to compare to your budget percentages:

  • Housing: ~20%
  • Food: ~10%
  • Insurance, such as life, medical, home, or auto: ~10%
  • Transportation or auto services: ~5%
  • Utilities: ~5%
  • Personal care: ~15%
  • Entertainment: ~10%
  • Misc.: ~5%
  • Savings: ~20%
  1. Create a Monthly Expenses Pie Chart
  1. Use the information from Table 2: Monthly Expenses to determine the proportion of your net pay currently allotted to needswants, and savings. Use Microsoft Excel to create a pie chart to represent the 3 categories. Add a chart title, a legend and include the percentage on each of the three pie slices (data labels). Paste your Microsoft Excel pie chart below. Use the following link to review how to create a pie chart in Excel. Use the below table to create your pie chart in Excel.
  • Creating a pie chart in Excel.
Needs (Housing + Food + Insurance + Transportation + Utilities) __%
Wants (Personal Care + Entertainment + Miscellaneous) __%
Savings __%
  1. Compare your Monthly Expense Ratios to the 50-30-20 Rule

Using the 50-30-20 rule each month, a person spends 50% of their money on needs, 30% on wants, and 20% on savings. Use the following link to assist you with your expense ratio comparison to the 50-30-20 rule: 50-30-20 Rule

  1. Describe how your pie chart (Part 1 c) compares to the 50-30-20 rule in 2-3 sentences.
  2. Indicate whether you plan to make any changes in your needs, wants, or savings based on the comparison to 50-30-20 rule. Be specific with your plan!!