Maths Assignment 1: Budgeting and Financial Planning for France Trip

This Maths assignment presents a comprehensive budgeting and financial planning analysis for a trip to France, viewed from the perspective of an electrical engineer. The assignment begins with an introduction to the student's background, qualifications, and career aspirations, highlighting their interest in community development and travel. A research plan is outlined, focusing on gathering both quantitative and qualitative data to inform the budgeting process. The core of the assignment is a detailed financial plan, including strategies for financing the trip and a breakdown of estimated costs for various expenses such as airfare, accommodation, local transport, attractions, and food. The assignment also includes calculations of the student's income after tax and provides a detailed analysis of weekly and yearly expenses, illustrating how savings can fund the trip. The assignment concludes with a budgeting section that highlights the student's financial capacity to afford the trip and includes tables of calculations and explanations for the costs involved. This assignment provides a practical application of budgeting and financial planning principles in the context of a real-world scenario – planning a trip to France.

Running head: MATHS ASSIGNMENT 1
Maths Assignment
Student Name
Institution
Date

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Contextual Assignment
Introduction
The main idea portrayed in this paper is to assess one’s knowledge in budgeting and
computation of algorithms that will be used during the budgeting process. In my area of
work, I have attained substantial qualifications that have made me suitable for the role I am
playing currently in my company. I have a bachelor’s degree in electrical engineering, after a
study of about four years in the university. With a bachelor’s degree, I have attained
systematic skills, which provides fundamental values with problem solving methods that will
be required when pursuing my career. Moreover, having detailed information about my
career I ought to advance further so that I may gain more knowledge about the course I am
pursuing.
After finishing my studies, I worked as an engineer at a telecommunication department in
Melbourne, my contribution in the department greatly influenced my involvement in many
projects, including issues dealing with power surges, and defects of the power lines within the
region. Additionally, with my motivation I was in a position of conducting individual
research, and linking up with different departments through attending meetings on how to
improve electricity supply within the region. Thus with my brilliant working skills, I have
been able to operate both internally and in external environments. Currently, I aspire to get a
higher rank within the telecommunication department so that I can make sure that all
activities are being run smoothly without any flaws or errors.
Additionally, I am a highly devoted expert aspiring to advance in my career. Moreover, I
have gained skills such as observing, recording, ambitious, self-driven, and analytical skills
which have made me outstanding in my job role. Therefore, I am looking forward to gaining

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more skills as I continue working as an electrical engineer in my company. I aim to operate in
a vibrant company that inspires capacity building and aligns opportunities so that I can
exercise and enhance my career expertise. My interest revolves in and around community
development. Moreover, it is brought due to constant involvement of my company with local
communities in ensuring that electrical infrastructure is well established within the region.
Also my interest in music is fascinating ranging from any music type inclusive of different
genres has made me develop passion in listening to music.
Research Plan for a trip to France
I have selected a trip to France which shall be conducted at the end of the year (20th -25th
December). This dates are crucial due to the vast number of tourist visiting the region
therefore I will get exposure of the place in a unique way. Probably it is often easy to be
astounded when arranging an event that is crucial in your life. Actually, you will always have
pressure in ensuring that everything goes in a systematic manner without any errors. The
main challenge encountered when planning such an event is the procedures involved when
gathering information about the project in context. In any event, there are chances of
activities to work and those that will not work, and of course people’s comments about the
event (Bamanyaki, P. and Holvoet, N., 2016). Therefore, when planning you should make
sure that all processes and activities are in position.
According to this paper the main focus will be a holiday budgetary plan to France which will
take into account vast number of ideas. Thus I plan to get data from both quantitative and
qualitative sources. Quantitative sources may include content management sites, and
attendance number, while qualitative sources are social media, surveys, and conversing with
individuals who are trained or have experience in event planning. The sets of data stated are

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compatible as qualitative exhibits information that aligns people’s ideas about my event and
their desires, while quantitative sources portray various sections I am required to focus on.
I have selected this topic due to my desire of travelling is different places. From my previous
visits have lived in different house designs and thus familiar with the costs involved. During
my trips I was exposed to many regions. Additionally, it conforms to be a place where I can
be myself without aligning with peers just because I cannot conform to the societal norms
(Bamanyaki, P. and Holvoet, N., 2016). Thus in my visits, I have known the costs involved
and the expenses such as food transport and other accompanying charges involved. Thus I
can say that trinity culture, geography, and trinity’s people have made me love more about
field trips and the costs involved which is a reason behind the topic selection.
Strategies to financing and planning my trip to France
Being in a position of funding a trip France is challenging due to the unfavourable economic
climate. The demanding times has led to holding of funds become tough at times. Although,
based on my present financial capability I would prefer borrowing money from the bank
which is sure that it will cater for all of my needs. Based on the living expenses shown in
table 3, it is evident that after taking a loan from the bank with a favourable interest rate I
successfully recover the money in a couple of months. Despite the fact that borrowing money
can be risky at time your credit card can be whacked (Choe, Y., Stienmetz, J. and
Fesenmaier, D. 2013). For my case, I will not borrow money from lending institution since
my saving will be enough to cater for my needs.
According to my research analysis i found out that taking a trip to France will be convenient
based on my budget. For about ten days I should spend about $2600, which will cater for all
my needs. Actually, it may seem a lot but taking into account what you will be viewing and

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visiting it may be more. Taking a loan may increase additional drawbacks since I will have to
focus on paying the loan with huge interest rates every month which I do not recommend.
The appendix section shows in detail my budgeting strategy for the whole year (Mohapatra, J.
and Akela, A., 2019). A detailed computational.
Fortnight Estimated Cost In France ($)
Airfare 600
Accommodations 1680
Local Transport 200
Attractions 150
Food and drinks 490
Random spending 100
Total $3080
Source: https://www.moneywehave.com
While taking a trips to Paris can be challenging, especially when booking a flight, it may look
simple in some way if you have a decent deal or work. Therefore, your ultimate bet is looking
to find airfare or evading travelling during the high seasons. Based on my research (people’s
suggestion, social media sites) airfare ranges about $600 currently. Although having
additional days for spending I would prefer flying to the biggest airports such as, Paris which
provide cheaper deals (Kennedy, B., Parker, D. and Lott, R., 2014). Afterwards, you can get
cheaper flights which range from $100 inclusive of your luggage depending if you had
booked earlier enough.
On the other hand, while in France, the transportation costs are very cheap which makes it
easy in getting to know the entire city. Because this schedule is for a major highlight, then
using a train is more preferable than car renting. Driving in France narrow streets can be
absolutely daunting; therefore, using a train is actually effective although it should be booked
prior to taking off (Mohapatra, J. and Akela, A., 2019). France comprises of two types of
trains the cheaper ones and the more expensive ones. This is determined based on to how fast

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a train can be. I would recommend using slow trains so that I can enjoy the travel with the
chance of viewing the entire city. Also this will give me the chance of saving money and also
enjoy myself with local journeys. The average cost per ticket of a train is about $20 per
ticket, although if you want the faster ones you should have $50.
In France accommodation range based on the location, mode of accommodation and the time
of year you ought to visit the place. Considering that there are vast number of choices availed
for different types of budgets. According to my analysis a mid-range hotel pricing during a
shoulder season will be $1680 for a fortnight.
Attraction sites in France are much easy, you can go in any place you want based on the
attraction will want. If you are fascinated with the country’s art and museum, then within the
budget there should be allocate of the sort. France comprises of vast number of museums and
arts that you will like. Normal attraction sites will be about $150, although if you are attentive
on museum you may prefer doubling the price.
On the other hand, daily meals cost ranges based on the type of food you want. Although, I
would prefer a normal meal which costs about $5 for breakfast, $7 for lunch, and $20 for
dinner. These totals to about $32 in a day, though rounding it up it will be about $35.
Consequently, first time visitors should know that there is additional cost for sitting in a
restaurant that you should not be surprised. Despite the fact that you a bigger shopper on your
travels, I would recommend that you should plan less for your budget. Needless speaking you
can probably spend something while there, therefore I would budget an extra $100 for
random spending and shopping.

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Table 1: Living Expenses
Expenses Amount (per week) Fortnight expense
 Mortgage
 Other
housing costs
450.00
15.00
930.00
Food shopping 250.00 500.00
Car 125.00 250.00
Personal(recreation)
Drink and out eating
55.00
100.00
310.00
Utility 100.00 200.00
Savings 176.00 352.00
Total 1080.00 2160.00
Relating the expenses for the trip and the daily expenses it is clear that fund savings scan
fully fund my trip to France. Below is computational analysis of expenses done during the
year
Table 2: Mortgage and other housing costs
Weekly cost Yearly cost
Mortgage - $450.00
Other housing costs – $15.00
Fortnightly cost (450+15) ×2
400
50
10
5
´465
+ ¿
¿
465×2
400 × 2=800
60 × 2=120
5 × 2=10
´930
=$930
Yearly cost = (fortnightly cost ×27)
($930×27)
900 ×27=24300
30 ×27=810
0 ×27=0
´25110
=$25,110
Table 3: Food Shopping
Weekly cost Yearly cost

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Food shopping – $250.00 Fortnightly cost (250×2)
250
2
´500
×
=$500
Yearly cost = (Fortnightly cost×27)
=
500
27
´13500
×
=$13,500
Table 4: Car
Weekly cost Yearly Cost
Car - $125 Fortnightly cost (125×2)
100 ×2=200
20 ×2=40
5 ×2=10
´250
=$250
Yearly cost = (Fortnightly cost×27)
200 ×27=5400
50 ×27=1350
0 ×27=0
´6750
=$6,750
Table 5: Personal (recreation), drinks, and out eating
Weekly cost Yearly cost
Personal(recreation) - $55
Drink and out eating - $100
Fortnightly cost (55+100) ×2
=$310
Yearly cost = (Fortnightly cost×27)
=$310×27
=$8,370
Table 6: Utility
Weekly cost Yearly cost
Utility - $100 Fortnightly cost (100×2)
=$200

Maths Assignment 9
Yearly cost = (Fortnightly cost×27)
=$200×27
=$5,400
Table 7: Savings
Weekly savings Yearly savings
Saving - $176 Fortnightly savings (176×2)
=$352
Yearly savings = (Fortnightly savings×27)
=$352×27
=$9,504
Yearly Total $68,634
Budgeting Section
I found out that an Electrical engineer in Australia earns about $84,247 on a yearly basis
(Zhang, J., 2010). This is absolutely sufficient for planning a trip of one’s choice.
(https://au.indeed.com/salaries/Engineer-Salaries)
Table 8: Taxable income
Taxable Income Tax on this Income
$0 – $18,200 Nil
$18,201– $37,000 19c for each $1 over $18,200
$37,001 - $90,000 $3,572 plus 32.5c for each $1 over $37,000
$90,001 - $180,000 $20,797 plus 37c for each $1 over $90,000
$180,001 and over $54,097 plus 45c for every $1 over
$180,000
Source: https://www.exfin.com/australian-tax-rates
Table 9: Calculation and explanation of Fortnightly income after tax
Calculation Explanation
84,247-37,001

Maths Assignment 10
84,247
37,001
´47,246−¿
¿
Since 84,247 ranges between $18,201–
$37,000 gap then the yearly income will be
subtracted from 37000
Therefore, extra tax imposed will be
32.5 % × 100=0.325 %
47,246 × 0.325
Multiply the acquired value with 0.325 to
get the tax imposed.
47246
0.325
´15354.95
×
Thus, total tax will be: 3572+15354.95
= $18926.95
Gross tax is achieved by summing up the
taxable income with the extra tax imposed
Salary after taxation will be:
84,247−18926.95
= $65,320.05
Subtract the total earning from the total tax
to get the basic salary.
Hence, fortnightly income will be:
26
√65320
2512 3
10
To get the value gained in a fortnight
income divide the basic salary by 26
Fortnight income will be $2512
Reflective statement
Actually, after critical analysis of my project budgeting plan, I can say that positive results
were achieved since I was in a position to gather every detail on the accommodation,
transportation, food, and additional expenses from different sources. The use of both
qualitative and quantitative research methods highly boosted my findings. Therefore, I
realised that more adjustments could be done in the local transport and attractions (table 4) so
that during my visit I can cover vast number of places. This can be done by increasing the
amount of money used for local transport and attractions since the place has numerous
attraction sites.
Moreover, if I was planning the whole project again I would increase the entire budget to
$5000 which will be convenient as I will enjoy the beauty of the place and I will be in a
position of catering for every need without shortage. Actually, any situation or planning there

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must be a challenge. In my case the main challenging issue was the allotment of the project
prices which tended to be difficult. I overcame the entire problem through critical analysis,
and research based learning. From the investigation I have learnt how to create a good
budgeting plan for any vacation. Additionally, presently I can handle any computation
algorithm on budget planning. I really enjoyed doing this assignment as it made me imagine a
real life situation which gave me the motivation and the ability of creating a flexible budget.
Actually, with the enough material gathered I would recommend this assignment who is
fascinated in project budgeting. It was useful to find out that there is variation in market
prices ranging from accommodation, food, transport, etc. This is brought about due to the
fluctuating number of visits to the place I choose. Therefore, I resolved these by analysing
different seasons and getting the average prices of each which made me get a substantial
value for my project budget.
If I was doing a similar task in the future, I would choose a different scenario such as event
planning so that I can gain more skills and knowledge on project budgeting in detail. Having
being exposed to holiday budgeting, another project budgeting based can be done with ease.
Conclusively, I have noticed a skill that I need to improve on is project analysis and
evaluation. Based on the performance of the entire project I have enjoyed doing the project
and look forward to handling a similar project in the near future.

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Reference
Bamanyaki, P. and Holvoet, N. (2016). Integrating theory-based evaluation and process
tracing in the evaluation of civil society gender budget initiatives. Evaluation, 22(1),
pp.72-90.
Bamanyaki, P. and Holvoet, N. (2016). Integrating theory-based evaluation and process
tracing in the evaluation of civil society gender budget initiatives. Evaluation, 22(1),
pp.72-90.
Choe, Y., Stienmetz, J. and Fesenmaier, D. (2013). Trip Budget and Destination Advertising
Response. Tourism Analysis, 18(6), pp.713-722.
Kennedy, B., Parker, D. and Lott, R. (2014). Capstone pharmacy review. Burlington, MA:
Jones & Bartlett Learning.
Kennedy, B., Parker, D. and Lott, R. (2014). Capstone pharmacy review. Burlington, MA:
Jones & Bartlett Learning.
Mohapatra, J. and Akela, A. (2019). Magnetic Evaluation of Tensile Deformation Behaviour
of TRIP Assisted Steels. Journal of Nondestructive Evaluation, 38(1).
Zhang, J. (2010). ICLEM 2010. [Reston, Va.]: American Society of Civil Engineers.