Time and MoneyManagementAssignment

Time and money management are two of the most challenging problems that college students face. This assignment will assist you in becoming more aware of your habits in regards to time and money management.

  • This assignment has 3 sections and will take 7 days to complete.
  • This cannot be done the night before it is due.
  • Please read all directions carefully.

Section 1: Track Your SPENDING

Directions:

Step 1: Estimate how much money you think you will spend over the next 7days. Submit this estimate to your instructor.

Step 2: Begin tracking what you actually spend for the next 7 days (this includes eating out, gas, vending machine snacks, entertainment, bills, etc). Use the Time and Money Tracking template to track your spending.

Section 2: Track YourTIME

Directions: Track your time for 24 hours a day for 7 days.Use the Time and Money Tracking template to track your time.
NOTE:

  • You may block out time. For example: 11:00pm-7:00am – sleeping.
  • Protect your privacy! You do not have to list detailed information! For example, you can block out time as ENTERTAINMENT, SCHOOL, SLEEP, etc.

Section 3: MONTH Term Calendar

Refer to the syllabi for all classes you are taking.

  • List all tests, assignments and projects that are due next month for every class you are taking including this COL class.
  • Do not list reading assignments or homework.
  • Only list assignments that you will turn into your instructor for a grade.

Reflection Questions:

Money: Afteryou have tracked your spending for 7 days, answer the following questions.
Enter your responses directly into the spaces provided below. Be sure to use complete
sentences.

  1. How much money did you estimate that you would spend this week?
  1. Were you over or under your original estimate? If you were over, how much more money did you spend than you estimated? If you were under, how much less money did you spend?
  1. Based on your money tracking for this assignment, explain what you learned about your spending habits?

Time: After you have tracked your time for 7 days, review your weekly schedule and answer the following questions. Enter your responses in the spaces provided below. Be sure to use complete sentences.

  1. If someone who didn’t know you looked at how you spent your time last week, what conclusions could they draw about you and what is important to you?
  1. Review your time tracking spreadsheet. How many hours did you spend on school last week? DO NOT count time in class. Only calculate out of class time.
  1. Dr. Staley, author of your textbook, recommends that students study 2 hours for every hour in class (3 credit hour class = 6 hours of study). Does your time this past week reflect the hours you should be studying? Why or Why not?
  1. If your answer above is yes, then are you staying on top of your course requirements? If no, what can you do to improve your time management?