Family Profile
COPY AND FILL IN THE BLANKS
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)
because_________________________________.
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?
1.
2.
3.
4.
5.
Transportation
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
Gasoline
• 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
Maintenance
• 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
Clothing
• 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
Entertainment
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)
Recreational/Entertainment
Activities
Parties:
• 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
party
4 parties total x $100 = $400 / 12 months = $33.33
Recreational/Entertainment
Activities
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
Recreational/Entertainment
Activities
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
Recreational/Entertainment
Activities
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= ______
Recreational/Entertainment
Activities
Electronics
• Will you have internet, cable or a cell phone?
Add all of your expenses.
• Internet $30
• Cable $40
• Cell Phone $40
• Total $______
Recreational/Entertainment
Activities
Now total all your Recreational/ Entertainments
costs
Parties +
Concerts/movies/events +
Books/CDs/DVDs +
Hobbies/Sports +
Electronics=
TOTAL REC/ENTERTAINMENT COST per month
Vacations
Vacations
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
vacations.\
_____ # 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)
Food
• 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
Sandwich
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
Water
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
for?????
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
Center
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
2010
Babies and Pre-School Age School Age
Toddlers Ages 3-4
0-3
Full Time Day $679 $535 $200
Care Facility
Home Care $525 $474 $125
Center
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
Furnishings
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
Savings
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
emergency.
List what you will save for each month:
_______________________________________________________________
_______________________________________________________________
MONTHLY SAVINGS TOTAL= $ ___________
Enter at [11] on Your Budget Profile
Miscellaneous
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: $_____________
$_____________
MONTHLY MISCELLANEOUS TOTAL = $ ________________
Enter at [12] on Your Budget Profile
Now it is time to add up your monthly
costs:
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 $________