Monthlybudget-3 - monthly budget assignment PDF

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monthly budget assignment...

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BUDGET REALITY CHECK How much money do you need to live on your own? First, complete this budget based on what you believe you will make your first year out of college. Second, once you have filled in the blanks in the first column; fill the second column with the amounts you found doing the activity on the website listed. Once you complete this exercise go to the website https://www.educationquest.org/realitycheck/ and complete #1 Reality Check. If time permits explore the other two options. Welcome to adulthood!

ALL BLANKS MUST BE FILLED IN! Yearly Income $43,370 Taxes (10%) $37,889 Retirement(10%) $32,408 Total (Annual Income) $32,408 Divide your annual income by 12. Monthly Income $2,700 FIRST COLUMN Housing $1,000 Utilities (Basic Utilities, Cable & Internet) Food $200.00 Transportation $70.00 Student Loans $0 Digital Media (Cell Phone, Streaming TV & Music, Video Games) $30.00 Health Care $70.00 Personal $100.00 Clothing $30.00 Entertainment $0 Savings $150.00 Life Insurance $100.00

SECOND COLUMN $514.00

$389.00 $408.00 $125.00

$132.00 $188.00 $80.00 $150.00 $200.00 $0.00

Total Expenses $1,750 $2,442 Subtract your total expenses from your total monthly income. Monthly Income $2,700 Monthly Expenses $1,750 Total + or - $950.00

$2,700 $2,442 $715.00

List 6 other items that should be included in the above budget. 1. Car Insurance 2. Vacation 3. Eating out 4. Debt payment (credit card)

5. Car payment 6. Emergency Fund...