Class Project Mr.McEwen PERSONAL BUDGET Class Project Mr.McEwen

Introduction Make a Household Budget Use the Basic Math Skills Necessary to Make a Balanced Budget Valuable Life Skill

Overview Try to make a monthly budget Explain how all the individual costs fit together for financial wellness Realistic as possible Job Rent Bill Food Car Gas Fun Misc Edu

Income List the income by: The amounts allotted to each grade. Hourly wages Monthly wages The amounts allotted to each grade. A: $40/hour B: $ 32/hour C: $24/hour D: $16/hour F: $8/hour

Income Gross income State Taxes Federal Taxes SDI FICA Net income

Household Expense Taxes* Mortgage * Food * $5/meal, 3 meals/day, 30 day/mo Heating/Cooling @ $0.35 per sq ft * Phone – land line Garbage/Water @ $96 (Modesto) Transportation* * indicates a must have

Optional Expenses Car Payments Credit Cards – payment only Gas Maintenance Insurance Credit Cards – payment only Entertainment Satellite TV Movies

Summary Want Income as Hourly & Monthly Want a List of Monthly Expenses Want a Total of Monthly Expenses Want a Income/Expense Comparison Monthly Yearly No negative balances Conclusion – What have you learned?

Internet Information Government websites have current SDI & FICA deductions. Look up current Federal & State Taxes Workman’s comp costs You may look up property costs in other states There are sites with minimum costs for expenses Need a list of each website for references

Where to Get More Information Modesto Bee Internet sites Modbee.com ATT.com PG&E.com Google Hud.gov Parent/Guardian

Budget Example

Conclusion Page Conclusion must be about a page in length Should be typed and double spaced Need to explain what you have learned from this exercise Want to include what kind of job would be needed to earn your dollar amount Where you would have to live Realistic earns max points.