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					                  Family Profile
Today I am ____ years old. In ____ years I will be 30 years
   old. This is how I want my life to look…
I am ___________ (married, single, in a relationship)
I have _______ (#) children. They are___ years old.
I want to live in ____________(city), _______ (state)
                                         Housing Profile
Apartment for Rent                                       House for Rent
____ bedrooms/ _____ bathrooms                           ____ bedrooms/ _____ bathrooms
Ad or description                                        Ad or description
Monthly payment             $________ / mo.              Monthly payment             $________ / mo.
Insurance                          $20/ mo.              Insurance                          $20/ mo.

Utilities (15% of monthly payment)       $_______/ mo.   Utilities (15% of monthly payment)       $_______/ mo.
Total                                $___________/ mo.   Total                                $___________/ mo.

Condo to Own                                             House to Own
____ bedrooms/ _____ bathrooms                           ____ bedrooms/ _____ bathrooms
Ad or description                                        Ad or description
Monthly payment (plus property tax) $________ / mo.      Monthly payment (plus property tax) $________ / mo.
Insurance                                 $50/ mo.       Insurance                                  $50/ mo.

Utilities (15% of monthly payment)       $_______/ mo.   Utilities (15% of monthly payment)       $_______/ mo.
Total                                $___________/ mo.   Total                                $___________/ mo.
    Choose which one is best for you
Which one will you choose?
What are the benefits of your choice?
How do you want to get around town?

What make model and year did you choose?
                Types of cars

• Economy car

• Midsize car

• Large car
                  Monthly Car payment
                 (7% interest on a 48 month loan)
Amount of Loan      Monthly payment   Amount of Loan   Monthly Payment
$5,000              $119.73           $16,000          $383.14
$6,000              $143.68           $17,000          $407.09
$7,000              $167.62           $18,000          $431.03
$8,000              $191.57           $19,000          $454.98
$9,000              $215.52           $20,000          $478.92
$10,000             $239.46           $25,000          $597.00
$11,000             $263.41           $30,000          $716.00
$12,000             $287.35           $35,000          $835.00
$13,000             $311.30           $40,000          $954.00
$14,000             $335.25           $45,000          $1073.00
$15,000             $359.19           $50,000          $1,192.00
Car insurance

  $100/   mo
• You will drive about 500 miles per month
• Gas costs about $3.00/ gallon

           • Economy Cars- 30 miles per gallon
            • Midsize Cars- 20 miles per gallon
             • Large Cars- 10 miles per gallon

500/ _____mpg = _____ gal

_____gal x $3.00 = ________ Gasoline Cost
• You will drive about 500 miles per month

                      •     Economy Cars- 12¢ per mile
                          • Midsize Cars- 15¢ per mile
                           • Large Cars- 19¢ per mile

500 x ______maintenance cost = _______ total maintenance cost per month
• Your clothing budget will vary according to your talents, taste,
  and time. Where do you like to shop? Are you a “blue jeans”
  person or someone who prefers designer clothing? (Enter you
  answers to these questions on #3 of your Budget Profile.) Are
  you willing to shop for bargains to produce a designer
  wardrobe or do you always pay full price? Refer to the
  clothing chart to determine the monthly clothing expense for
  your family and then enter it on #3 of your Budget Profile.

• Total Cost of Clothing             $________/month
Eating Out (Restaurants/Fast Food)
Assume an average price per outing for a small family at $40.00 then
multiply by the number of times per month you will eat out.
$40.00 X ___/month = $_______ (Cost of eating out per mo.)

Recreational/Entertainment Activities
These include parties, movies, concerts, sporting events, books, DVDs, CDs,
   hobbies/sports, and electronics such as IPods, cell phones, internet, cable TV, etc.
   Use the attached list to calculate a monthly cost for each of these categories.
   Total Cost of Recreational/Entertainment $________
(Add both together and Enter these amounts on #6 of your Budget Profile)
• How many parties will you have in one year?
• Multiply that number by $100
• Divide that number by 12months to get a
  monthly budget
Example: I will have a Halloween party, 2 birthday parties, and an Earth Day
   4 parties total x $100 = $400 / 12 months = $33.33
Concerts/ Movies/ Sporting Events
• How many times will you go to the movies in a year? How
  many times will you see a concert? How many times will you
  attend a sporting event? Add all costs and divide by 12 to get
  your monthly cost.
•   Movies ____ x $10=______
•   Concerts ____x $50= _____
•   Sporting Events x $50= _____
•   Total                 ______ / 12 mo. = ____ mo. cost
Books/ DVDs/ CDs
• How many books, CDs, or DVDs will you buy in
  a month?

•   Books ___x $10=____
•   DVDS ___ x $15=____
•   CDs ____ x $15=____
•   Total         ______ per month
Hobbies/ Sports
• How many people in your family will
  participate in hobbies or sports? Multiple that
  number by $100 to get a monthly cost.
• Number participating___ x $100= ______
• Will you have internet, cable or a cell phone?
  Add all of your expenses.

•   Internet $30
•   Cable $40
•   Cell Phone $40
•   Total    $______
Now total all your Recreational/ Entertainments

Parties +
Concerts/movies/events +
Books/CDs/DVDs +
Hobbies/Sports +
Vacations can be short trips (2 to 4 days) such as weekend getaways or longer
   trips (7 to 10 days) such as cruises or travel to other countries. Decide
   how many short and long trips you want to take per year, multiply that by
   the cost of each and divide by 12 months to get a monthly cost for

_____ # short trips X $500 divided by 12 months    = _______
_____ # long trips X $3,000 divided by 12 months= _______

Total Cost of Vacations per Month = _______

(Enter this amount on #7 of your Budget Profile)
• This category is for food prepared at home. Using the “Cost of Food At
  Home” chart, select which monthly plan is right for you and your family.
  The Thrifty Plan is based on low-cost foods such as beans and rice and
  may take longer to prepare. The Low-Cost and Moderate Plans offer a
  greater variety; while the Liberal Plan lets you buy whatever you want,
  regardless of the cost.

• Total Cost of Groceries $________/month
• (Enter this amount on #4 of your Budget Profile.)
          Grocery Shopping
• Imagine you need to make two days of
  meals for your family . What will be on
  your menu? Don’t forget meals, snacks,
  and beverages.
• Once you have planned out your meals
  and snacks. Write a grocery store list of
  all of the ingredients that you will need.
                                  Sample Menu
                                                        Day One
Breakfast                     Lunch                          Dinner                        Snacks
Veggie Omelet                 Peanut butter and Jelly        Salmon                        Granola Bar
Toast with butter and jelly   Apples                         Couscous                      Yogurt

Orange Juice                  Carrot Sticks and ranch        Zucchini with butter and      Watermelon
                                                             parmesan cheese
                              Yogurt covered pretzels        Milk


 Grocery List:
 Onions                                Peanut Butter                     Parmesan
 Mushrooms                             Apples                            Milk
 Egg Beaters                           Carrot Sticks                     Granola Bars
 Jelly                                 Yogurt Covered Pretzels           Watermelon
 Butter                                Salmon
 Bread                                 Couscous        *You can assume that you already have
                                                       Condiments (butter, syrup, spices, ketchup, dressings, mustard,
 Orange Juice                          Zucchini        mayo) in your cupboards
             Time to go shopping
Look through grocery ads to find the costs of your items. Add up all the item
   prices for both days then multiply that price by 15 to estimate a months
                              worth of groceries.

                                            •Corn (12)   $2
                                            •Avocado (3) $3
What else do we have to pay
    There are additional monthly
   expenses that you may not have
 considered… Lets look at them now!
                                            CHILD CARE

If both parents are working while there are young                       Age      Arrangeme      Cost per
     children in the family, (a reasonable assumption in                               nt         Month
     today’s economy) you will need to consider your
     child-care options. First, look back to see how many
     children you are planning to have, and their ages to   Example    1 year                    $679
     record below.                                                               Full Time in
Would you have: (Circle One)                                Child #1                            $______

No need for child care
                                                            Child #2                            $______
*A relative to care for them: ____________(who)

Full time child care in a center/pre-school/certified
      home-based program                                    Child #3                            $______

Enter at [8] on Your Budget Profile
                                                            Child #4                            $______

                                                             Total     -------      -------     $______
Average National Child Care Costs
                  Babies and Pre-School Age   School Age
                 Toddlers Ages     3-4
Full Time Day        $679         $535          $200
 Care Facility

 Home Care          $525          $474          $125

  Full Time      $3000 (for 1,
   Nanny         2, or 3 kids)
                           Health Insurance

An unforeseen accident or illness can play havoc with the most carefully planned
   budget, so health insurance is a must. Many employers will pay for a portion of
   your health insurance, but you will usually have to pay a portion of the cost. See
   the table below for average out-of-pocket costs.

Average Yearly Out-of-Pocket Cost

1 Person - $1522
2 People - $3010
3 People - $2496
4 People - $2472
5 or More People - $2340

Annual Health Care cost $_________divided by 12 = $____________ [9] Monthly Health Care Cost
You will need to purchase replacement equipment and items for your home,
   such as linens (sheets), appliances (coffee pot, microwave), and decorative
   items (holiday decorations, etc). We will assume you have already
   purchased computers, home entertainment items, and furniture.

Annual Budget $_________divided by 12 = $ _____________ [10] Monthly
  Furnishing Cost

Enter at [10] on Your Budget Profile
Although you may not think so now, you will need some savings in your future. There
    are predictable things to save for (a house, new furnishings, children’s college,
    retirement) as well as things you’d rather not think about (losing your job, a major
    illness). It’s not fun to spend money on a new roof or a water heater, but
    sometimes it has to be done. It’s a lot easier if you’ve planed for it. As a rule of
    thumb, every family should save at least six months’ income in case of an

List what you will save for each month:


Enter at [11] on Your Budget Profile
Here are some possible additional expenses. Add what you feel you need to.
  For each item estimate a monthly cost.

Holiday Gifts and birthdays =          $ _____________
Will you have pets? Pets =             $_____________
Contributions                          $_____________
Private School?                        $_____________
Other items:                           $_____________


Enter at [12] on Your Budget Profile
Now it is time to add up your monthly
1. Housing                   $_____
2. Transportation            $_____
3. Clothing                  $_____
4. Food                      $_____
5. Sundries                  $_____
6. Entertainment             $_____
7. Vacations          $_____
8. Child care         $_____
9. Health care               $_____
10. Furnishings              $_____
11. Savings                  $_____
12. Miscellaneous            $_____
TOTAL               $________

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