Financial Plan Template
Financial Plan Template
Assessment item 4
GEN173
The items in the spending plan can change depending on your circumstances. These items are just a guide and should be used only as a starting point for developing your personalized spending plan.
Note: If you are not comfortable sharing this information, dont worry; you can write the spending plan based on a hypothetical student.
Expenses (Monthly) Amounts Income (Monthy) Savings (Monthly)
Food
Take away
Groceries $
$ Work $
$
Rent or Mortgage $ Centrelink $ Study
Books
HECS
Printing $
$
$ Allowances $
Car
Rego
Insurance
Petrol
Maintenance $
$
$
$ Other $
Other transport
Uber
Public
Transport $
$
$ Health
Gym
Health
Insurance
Medication $
$
$
$ Leisure
Memberships (e.g. Netflix)
Going out $
$ Clothes $ Utility bills
Mobile phone
Internet
Gas
Electricity
Water $
$
$
$
$ Other $ Total expenses $ Total income $ Total (income minus expenses) $
After completing the template, students should write a reflection (500 words) covering:
Note: If any of these discussion points make you uncomfortable to share, shift to a more descriptive language rather than a reflective one.
the value of a spending plan as a tool for managing money effectively;
justify how the spending plan is accurate, manageable, and financially sound; or explain, in general, why spending plans should be accurate, manageable and sound;
explain how the spending plan will help: prepare for financial eventualities impacting on study; save money; or help achieve a specific financial goal.
personal financial strategy(s) to address any financial challenges identified as a result of doing this task; and
demonstrate an ability to sustain financially during university study.
