Budget Worksheet

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					                              Budget Worksheet


Location1:                                 Location 2:
Income                  Budgeted           Income                  Budgeted




Total Income:                              Total Income:
Expenses                Budgeted           Expenses                Budgeted

Rent                                       Rent
Student Loan                               Student Loan
Savings Plan                               Savings Plan
Car Payment                                Car Payment
Car Maint/Oil                              Car Maint/Oil
Car Insurance                              Car Insurance
Car gas                                    Car gas
Health Insurance/Meds                      Health Insurance/Meds
Food                                       Food
Toiletries                                 Toiletries
Household Items                            Household Items
Gas/Elec                                   Gas/Elec
Water/Trash                                Water/Trash
Phone                                      Phone
Cable/Internet                             Cable/Internet
Personal Care                              Personal Care
Dining Out                                 Dining Out
Entertainment                              Entertainment
Clothing                                   Clothing
Miscellaneous                              Miscellaneous




Total Expenses:                            Total Expenses:

Income                                     Income
- Expenses                                 - Expenses
Left over:                                 Left over:
                                  Part 1: SMART GOALS
              Write the Goals in complete sentences and then address how each part is met.

1.) Short-Term Goal:


      •   S

      •   M

      •   A

      •   R

      •   T


2.) Intermediate-Term Goal:


      •   S

      •   M

      •   A

      •   R

      •   T


3.) Long-Term Goal:


      •   S

      •   M

      •   A

      •   R

      •   T
                                    Parts 2: Basic Living Expenses
Be as detailed as possible. This is where I am going to get a glimpse of how thought about this project.


   1.) Did you choose to live alone or with roommates? If roommates, how many do you have?




   2.) How did you calculate gas and electric costs?




   3.) How did you calculate water and trash costs?
                                           Part 3: Employment
Be as detailed as possible. This is where I am going to get a glimpse of how thought about this project.

My career is________________________________

    1.) Why is that job good for your goals?




    2.) What criteria did you have for picking your job?




    3.) What benefits would you like to receive? Do you think you would get them?




    4.) Salary:
Location1:____________________                              Location 2:________________________
Gross Yearly Income____________                             Gross Yearly Income________________
Federal Tax___________                                      Federal Tax_____________
State Tax _____________                                     State Tax________________
I get taxed _____% of my income.                            I get taxed _____% of my income
Net monthly salary__________                                Net monthly salary__________
                                             Part 4: Insurance

Be as detailed as possible. This is where I am going to get a glimpse of how thought about this project.


       1.) What car insurance did you choose for each location? Why did you choose those plans?




       2.) What health insurance did you choose for each location? Why did you choose those plans?




       3.) What other types of insurance are there that you might consider purchasing?




       4.) What is something you learned from reading through Unit 6 in your workbooks?
                                  Part 5: Transportation
Be as detailed as possible. This is where I am going to get a glimpse of how thought about this project.


1.) The car I purchase was a new/old ____________________ for _________________




2.) For location 1 my options were a _____% loan for _______ years or
    a _______% loan for _______ years.

   I picked the option with _____% for _______years.

   My monthly payment is _____________

   Work:




3.) For location 2 my options were a _____% loan for _______ years or
    a _______% loan for _______ years.

   I picked the option with _____% for _______years.

   My monthly payment is _____________

   Work:




4.) How did you calculate car gas?




5.) How did you calculate car maintenance, oil change, etc.?
                                          Parts 6: Student Loan
Be as detailed as possible. This is where I am going to get a glimpse of how thought about this project.

Part 6: Student Loan Data


My student loan is __________________ and my monthly payments are _____________

Work:
                                              Parts 7: Savings
Be as detailed as possible. This is where I am going to get a glimpse of how thought about this project.

Part 7: Savings


       1.) Option 1 for savings is at ____________________________.
           They will give me_______% compounded ______________.


           Option 2 for savings is at ____________________________.
           They will give me_______% compounded ______________.

           I chose Option 1/ Option 2


       2.) The monthly interest rate is ____________

           Work:




       3.) I will deposit ___________ monthly. This means I will have ____________ in 5 years.

           Work:




       4.) Are your SMART goals attainable with this savings?




       5.) What other types of things might you be saving for?




       6.) How did you decide how much to put into savings?
                                         Part 8: Other Expenses
Be as detailed as possible. This is where I am going to get a glimpse of how thought about this project.

       1.) How did you calculate food?




       2.) What did you include as personal care and how much?




       3.) How did you calculate entertainment? What types of things did you include?




       4.) How did you calculate dining out?




       5.) How did you decide how much to put aside for clothing?




       6.) How did you decide how much to put in as miscellaneous?
                                      Part 9: Final Questionnaire
Be as detailed as possible. This is where I am going to get a glimpse of how thought about this project.

       1.) What did you find most challenging about this project?




       2.) Did you find anything surprising?




       3.) What are some factors that could alter your budget?




       4.) How would having a spouse alter your budget?




       5.) How would having a child alter your budget? Does your current budget allow for a child?




       6.) Which location would you choose and why?
                               Part 5: Transportation (alt)
Be as detailed as possible. This is where I am going to get a glimpse of how thought about this project.


1.) The car I purchase was a new/old ____________________ for _________________




2.) For location 1 my options were a _____% loan for _______ years or
    a _______% loan for _______ years.

   I picked the option with _____% for _______years.

   My monthly payment is _____________

   Work:




3.) For location 2 I decided I would not own a car. I will spend ____________ on public transportation.
    I will save __________ by not having a car.

   Work:




4.) How did you calculate car gas for location 1?




5.) How did you calculate car maintenance, oil change, etc. for location 1?

				
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