What Will My Lifestyle Cost?

Monthly Lifestyle Budget Go to http://www.bls.gov/ooh/ and find your career choice Locate the median income for your career choice Divide by 12 to get the monthly Gross Income

Housing Apartment $800.00 Small House $1,000.00 Medium House $1,300.00 Large House Extra Large House $800.00 $1,000.00 $1,300.00 $2,500.00 $4,000.00

Homeowner’s Insurance Small House $100.00 Medium House $200.00 Large House $300.00 Extra Large House $400.00

Utilities (Electricity, Water, Sewer, Trash, Telephone, Heat & A/C) Apartment/Small House Medium House Large House Extra Large House $200.00 $300.00 $450.00 $700.00

Transportation Fixer-up Car Economy Car Full-Size Car Nice Truck/SUV Sports Car $100.00 $150.00 $250.00 $500.00 $1,000.00

Gas for Automobile Small/Medium Car $200.00 Full-Size/Truck/SUV Extra Travel (long commute or trips out of town each weekend) $200.00 $300.00 $80.00

Automobile Insurance Fixer-up Car Economy Car Full-Size Car Nice Truck/SUV Sports Car $30.00 $75.00 $100.00 $200.00 $250.00

Car Maintenance Basic Upkeep $50.00

Clothing Bargain Shopping $80.00 Dress Casual $150.00 Dress Professional $80.00 $150.00 $350.00

Entertainment Stay In – $100.00 Go Out Around Town – $200.00 (Rent a few movies & Go out to dinner at a moderate restaurant only once a month.) Go Out Around Town – (go to the movies & Go out to dinner at a moderate restaurant 2-3 times a month.) Go Out and Travel Some – (Travel some, one really nice trip a year, and eat out on a regular basis.) Travel a Lot – (Travel a bunch, all vacations are out of state or country, and always eat out.) $100.00 $200.00 $300.00 $450.00

Children $200.00 How many children x ??????? How many children do you plan to have? How many children x ??????? $200.00

Groceries “Cheap” Food – Normal Food – “Refined” Food – $200.00 (Ramen Noodles, Bologna & Cheese, PB&J, very little fresh produce.) Normal Food – (Fresh fruits and vegetables, Chicken, Ground Beef, Pork Chops, Ice Cream.) “Refined” Food – (Steak, Lobster, Pork Loin, Cakes, Pastries, Organic fruits and vegetables.) $200.00 $400.00 $600.00

Fast Food Only in Emergencies – $150.00 Only as a Treat – $200.00 (Ran out of food at home, forgot to set out dinner to thaw.) Only as a Treat – (Once or twice a month.) A Weekly Thing – (Once or twice a week.) Sit Down Restaurants – (Three or more times a week.) $150.00 $200.00 $400.00 $650.00

Internet Basic – $15.00 4 mbps High-speed – $50.00 10 mbps Gaming Quality – 20 mbps $15.00 $50.00 $150.00

Cable Only Internet – Basic Cable – Premium Package – $20.00 $50.00 (Netflix & Hulu) Basic Cable – (no specialty or movie channels.) Premium Package – (300+ channels including sports and movie channels like Starz, HBO & Cinemax.) $20.00 $50.00 $160.00

Cell-Phone No-Contract Plan – Only Talk & Text – (No Data, all phones are at least a year old – iPhone 5 /Galaxy 4 or older, spotty coverage.) No-Contract Plan – Unlimited – (2GB of data at 4G speeds, after that unlimited at 3G speeds, all phones are at least a year old – iPhone 5 /Samsung or older, spotty coverage.) Contract Plan – Basic – (2GB of data, newest phones available, great coverage.) Contract Plan – Premium – (10GB of data, newest phones available, great coverage.) $10.00/person $45.00/person $55.00/person $90.00/person

Personal Hygiene Low Maintenance – Medium Maintenance – (Haircut, basic toiletries.) Medium Maintenance – (Haircut, basic toiletries & hair styling products, cheap makeup.) High Maintenance – (Haircut, color, extensions, hair products, Top-of-the-line makeup, manicures, pedicure.) Gym Membership – $30.00 $100.00 $300.00

Health Insurance $200.00 Add ______________ For yourself, your spouse, And for each child you have

Life Insurance Take my Chances  0.00 Term Insurance 15.00 Per family member Whole Life Adult 50.00 Whole Life Child 30.00

Emergency Money Save a little – Save a lot – $100.00 $500.00

Retirement If I have to – 2% of Gross Income Up to Employer Contribution – Well-Funded – 2% of Gross Income 7% of Gross Income 12% of Gross Income

Giving & Charity $20.00 $80.00 $200.00 Give a little – Give some – Be Generous –

Taxes We can’t forget about these! – 30% of Gross Income

Totals The spreadsheet is set up to automatically calculate your totals and give you a budget (ending) balance. Make sure your balance is NOT negative! If so, adjust! When finished, submit your spreadsheet on BB.