MY MONTHLY BUDGET

Expenses
Rent
Utilities
Cable
Car lease payment
Gas
Loan Payment
Phone Bill
IRA contribution
Groceries
Entertainment
Total

Costs
$
$
$
$
$
$
$
$
$
$
$

500.00
85.00
90.00
440.00
125.00
215.00
95.00
150.00
350.00
80.00
2,130.00

Hourly Wage
Hours Per Month
$
20.00
Taxes
Estimate 28%
Income after taxes

Monthly Expenses:
Total Savings:

TEACHER COMMENTS: FORMULAS ARE

CORRECT AND ESTIMATES ARE GOOD.
HOWEVER, IT MAY TAKE A WHILE FOR
YOU TO MAKE $20. IF YOU START OUT A
MINIMUM WAGE, YOU WILL NOT MAKE
ENOUGH TO PAY EVEN HALF OF THESE
BILLS. THINK ABOUT WHAT YOU NEED
TO DO TO INCREASE YOUR INCOME OR
CUT YOUR EXPENSES. GRADE IS 95

160

UDGET

Monthly Income:
$
3,200.00
$
896.00 (Multiply monthly income x .28)
$
2,304.00 (subtract monthly income- taxes

$
$

2,130.00 (From cell B14)

174.00 (Subtract income after taxes - monthly expenses)