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Libertus &
Miranda
Personal Budget and Libertus Game Workout
This document develops the answers to the questions about which were proposed as work for the
Prospero Miranda and Prospero Libertus Modules.
Prospero
Libertus &
Miranda
PERSONAL YEARLY BUDGET
Figure out you are in December 2016 and have gotten a job contract starting in
January 2017.
Plan your expenses (fixed and variables and savings for future investments) taking
into account the income salary you have been offered and time-horizon of two
years onwards. Its up to you to decide the income, so do not overstate the income
section as you will have to justify later how and in what you plan to spend it.
Once you have made it, write down your reflections on whether either this budget
will help you to fulfil your personal goals o it will require further amendments.
Whats my predictable situation for December 2016?
I will be working as an assistant professor in the Polytechnic University of Valencia, so,
the salary after taxes (which will be the main income I will have) will be of 12225.60
per year. Also, I will consider an extra income of 1500 per year due to an extra job like
a particular teacher.
Goals:
In order to be able to prepare a valid budget it is necessary to wonder which my targets
will be, in accordance with the theory. So, the main aims I will try to achieve will be (it
is necessary to say that, due to the quantity of the salary these objectives cannot be very
ambitious), so:
Once my goals and incomes have been defined it is tame to try to predict which my
expenses will be:
Rent: I will suppose a medium prize apartment in Valencia (400 per month,
more or less)
Utilities: Taking into account the expenses about this concept which I have last
year I can predict a total expense of 1836 per year.
Transport: Taking into account I will use my own car in order to go to work,
the transport costs will be of 270 per year.
Prospero
Libertus &
Miranda
12.674,76
1.500,00
12.674,76
Expenses
Fixed expenses
Rent
Utilities
Transport
Car insurance and maintenance
Savings
Total Fixed Expenses
Total Net income
Water
Electricity
Internet
4.800,00
600,00
960,00
276,00
270,00
1.568,00
2.400,00
10.874,00
1.800,76
After making these estimations the total net incomes will ascend upon to 1800.75 per
year i.e. 150 per month.
Prospero
Libertus &
Miranda
LIBERTUS GAME
I was able to achieve the aim of the game (financial freedom) for three times, as I show
on the next pictures. Now, I will try to answer to the proposed questions:
a) What aspects have allowed you to obtain the main profitability?
I think the main trick to win in this game is making use of the concept leverage i.e.
when the financial capital is nearly so high as the own capital. In this game this concept
can be used without any kind of problem because the incomes which come from the
bought properties are completely defined and will never go down. In the real life,
abusing of this concept can lead to a bankruptcy when some unexpected fact make go
down the incomes.
Prospero
Libertus &
Miranda
Prospero
Libertus &
Miranda
Prospero
Libertus &
Miranda
Prospero
Libertus &
Miranda