Family Budget BIM. Married or Single Occupations of both spouses Children Salary

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Presentation transcript:

Family Budget BIM

Married or Single Occupations of both spouses Children Salary

Salary.com Enter job title Zip code

What Benefits Mean to Income Benefit Median Amo unt% of Total Base salary$35,36966% Bonuses$8592% Social Security$2,7715% 401k/403b$2,2464% Disability$5801% Healthcare$5,32810% Pension$1,5223% Time off$4,7389% $53,413100% Occupation -- Accountant 1

Salary for a Charge Nurse

Don’t Forget Income Taxes 008_tax_rates.htm 008_tax_rates.htm

Family Expenses Rent or Mortgage Taxes Utilities Insurance Telephone Cable Medical Auto Entertainment Clothing Food Childcare Household Personal Care Gifts Savings

Other Expenses? Vacation

PMT Function in Excel =PMT(rate,nper,-pv) Rate – interest rate of loan (6%) Interest is divided by number of periods Nper – number of periods in the loan If 6 years – (6* 12) = 72 periods PV – present value or amount of money borrowed Place a (-) minus sign in front of the PV

Calculate a Car Payment Using PMT Function You are buying a new ________. Interest rate is 6% Number of years for loan is 5 Present value of car is $25,000 What is your car payment?