1. Budget Unit Personal Finance Coach Guttmann
Life Game Activity
Budget Unit
Personal Finance
Coach Guttmann

2. Your Job High School Graduate Associates Degree (2 year)
$880.00/month ($5.50/hour)
Associates Degree (2 year)
$ /month ($9.00/hour)
Bachelor’s Degree (4 year)
$ /month ($12.00/hour)
Ph. D.
$ /month ($25.00/hour)

3. Taxes, Taxes, Taxes Deduct the following monthly for each job:
High School Grad = -$246.00/month
Associates Degree = -$403.00/month
Bachelors Degree = -$560.00/month
Ph. D. = -$ /month

4. Net Income
To figure your “Net Income” (take home pay) Gross Income - Taxes = Net Income Calculate your Net Income and write down

5. Rent Where are you going to live? Place Thrifty Expensive
Efficiency (1 room) $300 $600
1 Bedroom $350 $750
2 Bedroom $450 $1200
2 Story Condo $500 $1400
Live with Parents $100 $200
(help with expenses)

6. Utilities Living alone Efficiency / 1 Bedroom $100/month
2 Bedroom / Condo $150/month

7. Car - Transportation Car Mo. Payment Maint./Gas
Sweet (BMW) $976 (War) +$100
Nice (Infinity) $732 (War) +$100
Good (Mustang) $610 (War) +$100
OK (Chevy) $488 (War) +$100
Decent (Honda) $366 (War) +$100
Basic (Toyota) $244 (War) +$100
Used $ $60 +$100

8. Auto Insurance Must have (legal requirement)
If living at home and you drive their car
$166.67/month (on parent’s policy)
If you have your own car
$333.33/month

9. Health Insurance (Optional)
If you are going to have health insurance:
High School grad & Associates Degree
NO partial benefits
$100.00/month
Bachelors Degree & Ph. D.
Partial Benefits
$40.00/month

10. Phone/Cable (Optional)
Home Phone (with Long Distance) +$35.00
Cell Phone +$50.00
Cable
Basic $40.00
Premium +$60.00
Pay-per-view +$90.00

11. Food Eating at home (all meals/month) Eating out
Eat well $300
Eat moderately $200
Eat thrifty $150
Eating out
Dinners + $30 (alone) each
Lunch + $10
Breakfast +$5

12. “Extra” Expenses Clothes Entertainment Vacation Stylin’ +$200/month
Looking sharp +$100
Bargain Basement +$20
Entertainment
Per “night out” +$50
Vacation
From “Road Trip” ($50/month) – “B&B” ($500/mo.)

13. And the total is… Now, total your expenses
Subtract your “Total Expenses” from your “Net Income” to get your “Total Cash Flow”
How many had money left over at the end of the month???
How many thought about “Paying Yourself First”?