Budget 2016 Name:__________________________

Table of Contents 1.Title 2.Table of Contents 3.Income 4.Housing 5.Supporting Document 1 (Housing) 6.Utilities 7.Supporting Documents 2-7 (Utilities) 8.Automobile 9.Supporting Document 8 (Auto) 10.Gas and Maintenance for Auto 11.Automobile Insurance 12.Supporting Document 9 (auto insurance) 13.Renters Insurance 14.Supporting documents 10 (renters insurance) 15.Groceries 16.Grocery Sheet 17.Clothing Allowance - show math 18.Miscellaneous Items - complete chart 19.Entertainment 20.Supporting documents (entertainment) 21.Budget Review

Income My profession: ____________________________________ My salary: $_________________/year Taxes: Based on your salary, find your Federal Income Tax rate: Federal Income tax Incomes from $9,075 – $36,900…………15% Incomes from $36,901 - $89,350………..25% FICA (Social Security)…………………………..6.2% State Income tax………………………………….6%

Federal Taxes: * = Yearly Income Tax Rate (see above) State Taxes *0.06= Yearly Income Tax Rate FICA *0.062= Yearly Income Tax Rate Total Taxes Per Year: (add the above) Yearly Take Home pay - = Yearly Income Total Taxes per year Yearly Income Monthly Take Home pay ÷12= Yearly IncomeMonthly Income

Housing I am renting a/an _______________________ (type of housing) Street _________________________ City______________ Number of bedrooms:_______________ Number of room mates:________________ Total Rent per month: $_____________ Rent per person per month: $___________ My share of housing cost per month: $________

Housing

Utilities Total expected cost per month Electricity ____________/month Natural gas ___________/month Water/sewer __________/month Cell phone ____________/month Cable/satellite _________/month Internet ______________/month My portion per month (if applicable) Electricity ____________/month Natural gas ___________/month Water/sewer __________/month Cell phone ____________/month Cable/satellite _________/month Internet ______________/month Total Utility cost per month $_____________

Electricity

Natural Gas

Water

Cell Phone

Cable/Satellite

Internet

Automobile Make of vehicle: ________________________________ Model: _________________________________ Year of vehicle:_________________________________Total Miles: ____________________________ Length of financing: ___48 OR 60 months CHOOSE ONE Interest rate:_____7%________ Price of vehicle: $______________________(principle) To calculate your interest : Simple interest: Interest = (principle) X (interest rate) X (time in years) Monthly payment: Monthly payment= (principle + interest)/number of month Total monthly vehicle payment: $_______________ Must be at least $ or newer

My Car

Gas for Auto Miles from home to work:____________ x 2 (round trip) =________ Work miles per week: ______ _______ X 4.3 (weeks in a month) = _______ miles per month getting around miles = ________ total miles Miles per gallon of automobile:__________________ Average monthly per gallon of gasoline: $2.50 (Total Miles/MPG) x 2.50 = Total monthly cost of gasoline: $_____________ Assume that you work at Georgia Pacific: 133 Peachtree Street NE Atlanta, Georgia Atlanta, Georgia

Automobile Insurance Coverage Limits for Auto $________bodily injury/ $____/occurrence $________ Property Damage coverage $________ Medical Payment coverage $________ uninsured motorist/ $____/occurrence $________ Uninsured motorist property damage coverage $________ uninsured motorist bodily injury deductible $________ collision deductible / $____ Comprehensive Total Car insurance per month $ _____________ Agent/Company _____________________________ Total car insurance per month: $________________

Insurance Quote

Renter’s Insurance $25,000 Personal Property $100,000 Personal Liability $1,000 Medical $500 Deductible Total Renters insurance per month $ ____________ Quote obtained from: _________________________________ Date: ____________ Total monthly cost for renter’s insurance: $_________

Renter’s Insurance Quote

Food go to: Plan type: Estimated cost:______________________ Menu SundayMonday TuesdayWednesdayThursdayFridaySaturday Breakfast Lunch Dinner Snacks

Grocery Sheet ItemBrandSizecost Budgeted Amount:Total Spent:

Clothing Monthly take home x.05 = $______________________ Total Monthly clothing cost: $_______________________

Miscellaneous ItemQuantityPrice EachTotal Cost Hair Care Nail Care Makeup/Toiletries (girls, include monthly necessities) Soap Toothpaste and Toothbrush Deodorant Cleaning Supplies Dish Soap Laundry Detergent Toilet paper 3 additional items that you consider necessities: Total Cost: __________

Entertainment Week 1Week 2Week 3 Week 4 Weekend Day 1 (activity & cost) Weekend Day 2 (activity & cost) Total Monthly entertainment costs: $________ You may do ONE free event per weekend

Week 1 Entertainment

Week 2 Entertainment

Week 3 Entertainment

Week 4 Entertainment

Budget Review: Expenses: Student loan: _________ Housing: _________ Utilities: _________ Automobile: _________ Gas and Maintenance: _________ Auto insurance: _________ Renter’s Insurance: _________ Food: _________ Clothing: _________ Miscellaneous: _________ Entertainment: _________ Take-Home pay: ________ Total Monthly Expenses: ________ Budget surplus OR deficit: ________