Calculate Your Income
: Determine your net income value by subtracting estimated taxes and fees from your gross income.1. Calculate Your Expenses: Estimate how much you will spend in a full year for each of the 11 categories listed in the lesson.
3. Analyze Your Budget: Determine if you are living within your means. If necessary, find ways to reduce expenses so that they are in line with your income.
02.06 Budget Worksheet
Career _________________________________________
|
Difference (net income minus expenses) |
|
|
Entertainment |
Yearly Cost |
|
Video/DVD |
|
|
Vacation |
|
|
Other |
|
|
Subtotals |
|
|
Other Credit Debt |
Yearly Cost |
|
Student Loan |
|
|
Credit Card |
|
|
Credit Card |
|
|
Other |
|
|
Subtotals |
|
|
Utilities |
Yearly Cost |
|
Phone and/or Cell Phone |
|
|
Cable and Internet |
|
|
Electric and Gas |
|
|
Water and Sewer |
|
|
Waste Removal |
|
|
Subtotals |
|
|
Personal Care |
Yearly Cost |
|
Health Insurance |
|
|
Other Medical Costs |
|
|
Hair/Nails |
|
|
Clothing & Laundry |
|
|
Health Club |
|
|
Organization Dues or Fees |
|
|
Other |
|
|
Subtotals |
|
|
Gifts and Donations |
Yearly Cost |
|||
|
Holidays and Birthdays |
|
|||
|
Charity Donations |
|
|||
|
Other |
|
|||
|
Subtotals |
|
|||
|
Yearly Budget |
|
Gross |
Net |
|
|
Income |
|
|
|
|
|
Housing |
Yearly Cost |
|
Mortgage or rent |
|
|
Maintenance or repairs |
|
|
Supplies |
|
|
Home Insurance |
|
|
Furnishings |
|
|
Subtotals |
|
|
Transportation |
Yearly Cost |
|
Vehicle Payment |
|
|
Bus/Taxi Fare |
|
|
Automobile Insurance |
|
|
Licensing |
|
|
Fuel |
|
|
Maintenance |
|
|
Other |
|
|
Subtotals |
|
|
Food |
Yearly Cost |
|
Groceries |
|
|
Dining Out |
|
|
Subtotals |
|
|
Pets |
Yearly Cost |
|
Food |
|
|
Medical |
|
|
Grooming |
|
|
Toys |
|
|
Other |
|
|
Subtotals |
|
|
Savings or Investments |
Yearly Cost |
|
Retirement Account |
|
|
Investment Account |
|
|
Emergency Savings |
|
|
Subtotals |
|
Reflecting on this Activity
1. Why is budgeting important to your life?
2. Describe your experience with this process. Was it easy, difficult, or somewhere in the middle? What factors contributed to your feelings?
3. How might the use of credit for a large purchase affect your budget? Discuss which type of credit plan you would use, and how your budget can help you protect your credit score.
4. What adjustments did you have to make to your budget? How did you decide where to make changes?
5. Will you begin using a budget regularly now? Why or why not?
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more