Budgeting for Your Future… Ms. Smith Personal Finance

Would you like to live in an: a. Apartment b. Condo/ Townhouse c. 2 bedroom home

Would you go to the grocery store: a. Hardly ever b. Once a week c. 2-3 times a week

Will you go clothes shopping: a. Every other month or so b. Once a month c. Three or more times a month

Will your telephone service include: a. No primary telephone b. Basic service c. Basic service + additional features (long-distance calling)

Will you drive a: a. Honda Accord/ Ford Focus b. Nissan Maxima/ Mini Van c. Sports car/ SUV

Would you like to drive a: a. Brand new car b. 2-6 year old car c. 6+ year old car

Will you charge: a. Many expenses b. Some expenses c. Very few expenses

Will you have: a. Basic cable b. Basic + movie channels c. Direct TV

Will you go out to dinner/ entertainment purposes: a. Twice a month b. Once a week c. Two or more times a week

Will you have the Internet: a. No b. Dial-up c. Cable/ high speed

Will you have a cell phone: a. No b. Basic low minute plan c. Unlimited plan/ options d. Primary line

When buying personal items, you buy: a. Name brands b. Sale brands c. Store brands

When giving gifts during the holidays, you: a. Buy a couple modest gifts b. Buy for immediate family, spending a good amount of money c. Give extravagant gifts to everyone you know!

On a monthly basis, you plan to: a. Put some money into a savings account b. Save a ½ of your disposable income, plus invest in stocks c. Save most of your disposable income, while investing the remainder in stocks

Now let’s see how much your monthly expenses will be! Be sure to record the following expenses in your worksheet.

Rent/ Mortgage: a. Apartment 0 $ b. Condo/ Townhouse 0 $ c. 2 bedroom home 0 $

Utilities a. Apartment 0 $ b. Condo/ Townhouse 0 $ c. 2 bedroom home 0 $300.00

Groceries: a. Hardly ever 0 $ b. Once a week 0 $ c. 2-3 times a week 0 $350.00

Clothing: a. Every other month or so 0 $25.00 b. Once a month 0 $ c. Three or more times a month 0 $150.00

Telephone: a. No primary telephone 0 $0.00 b. Basic service 0 $20.00 c. Basic service + long-distance calling 0 $40.00

Car Payment: a. Honda Accord/ Ford Focus 0 $ b. Nissan Maxima/ Mini Van 0 $ c. Sports car/ SUV 0 $

Car Insurance: a. Honda Accord/ Ford Focus 0 $75.00 b. Nissan Maxima/ Mini Van 0 $ c. Sports car/ SUV 0 $125.00

Gasoline: a. Honda Accord/ Ford Focus 0 $ b. Nissan Maxima/ Mini Van 0 $ c. Sports car/ SUV 0 $300.00

Auto Repairs: a. Brand new car 0 $25.00 b. 2-6 year old car 0 $40.00 c. 6+ year old car 0 $50.00

Miscellaneous: a. Many expenses 0 $ b. Some expenses 0 $ c. Very few expenses 0 $50.00

Cable Television: a. Basic cable 0 $75.00 b. Basic + movie channels 0 $ c. Direct TV 0 $125.00

Entertainment: a. Twice a month 0 $ b. Once a week 0 $ c. Two or more times a week a. $400.00

Miscellaneous: a. No 0 $0.00 b. Dial-up 0 $20.00 c. Cable/ high speed 0 $40.00

Miscellaneous: a. No 0 $0.00 b. Basic low minute plan 0 $40.00 c. Unlimited plan/ options 0 $70.00 d. Primary line 0 $100.00

Personal Care: a. Name brands 0 $60.00 b. Sale brands 0 $40.00 c. Store brands 0 $20.00

Gifts/ Donations: a. Buy a couple modest gifts 0 $50.00 b. Buy for immediate family, spending a good amount of money 0 $ c. Give extravagant gifts to everyone you know! 0 $200.00

Other/ Savings: a. Put some money into a savings account 0 $ b. Save a ½ of your disposable income, plus invest in stocks 0 $ c. Save most of your disposable income, while investing the remainder in stocks 0 $300.00