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					                                      Month           Annual
Income
My Salary                                   $4,166    $50,000.00
Spouse's Salary                       $   2,083.00    $25,000.00
Gross Income                                $6,249    $75,000.00
Income Tax                            $   1,749.72    $20,996.64
Net Income                            $   4,499.28    $53,991.36

Expences
Auto - Gas                                    $240      $2,880.00
Auto - Loan (One New Car @ 12k)               $170      $2,040.00
Auto - Registration                   -                    $70.00
Auto - Repair                         $       50.00       $600.00
Auto - Tax (One New Car @12K)         -                   $415.00
Charity                                        $15        $180.00
Clothing                                      $250      $3,000.00
Emergency Fund                                $150      $1,800.00
Entertainment                                  $75        $900.00
Food                                          $400      $4,800.00
Furniture                                     $175      $2,100.00
Gifts (not monthly)                   -                   $200.00
Health, Beauty, Hair Cuts                      $60        $720.00
Hobbies                                        $10        $120.00
Home - (Mortgage)                             $850     $10,200.00
Home - Repair (not every month)                $50      $1,200.00
Insurance - Car* (Total for 2 cars)           $120      $1,440.00
Insurance - Home*                     $     225.00      $2,700.00
Investments                           $      15.00        $180.00
Loan - Consumer                       N/A             N/A
Loan - Student (Price was ~4.9k/yr)   N/A             N/A
Retirement                                    $200      $2,400.00
Savings
Subscriptions (Newspaper)                      $10        $120.00
Tax - Property                        $     387.00      $4,644.00
Union dues                            N/A             N/A
Utility - Cable                       $     35.00         $420.00
Utility - Cell phone (Two people)     $     50.00         $600.00
Utility - Electricity                 $     80.00         $960.00
Utility - Heat                        $     83.00       $1,000.00
Utility - ISP                                 $40         $480.00
Utility - Phone                               $30         $360.00
Utility - Water                       $     25.00         $300.00
                                      $     75.00         $900.00
Total Expenses                          $3,794.60     $46,829.00
Total Income (Inc. - Exp,)            $    704.68       $7,162.36

Adult signature
 I have reviewed the above
budget with the student.
Based upon the life they
described it is reasonable and
complete. I can be reached at
_______________




                                 What is your
                                 total monthly
                                 non-
                                 mortgage
                                 debt payment
                                 (college
                                 loans, car
                                 loans,
                                 consumer,

                                 According to
                                 the 20/10 rule
                                 what is the
                                 maximum
                                 consumer
                                 debt we
.                                should have?
Income section
Your income
Spouce's income
Other income

Total income
Taxes - income
Net income

Expence section
Auto - Gas
Auto - Loan


Auto - Registration
Auto - Repair
Auto - Tax
Charity

Child - Allowance
Child - Clothes
Child - College Savings
Child - Day Care (both working?)

Child - Entertainment
Child - Health Care
Child - Sitter (out at night?)
Child - Toys
Clothing
Education - Adults
Emergency Fund
Entertainment
Food
Furniture
Gifts

Hair Cuts
Health and Beauty
Hobbies
Home -
Home - Alarm Monitor
Home - Exterminator
Home - Gardner

Home - Maid
Home - Repair
Household expenses
Insurance - Malpractice

Insurance - Car*
Insurance - Health
Insurance - Home*

Insurance - Life
Investments
Legal Fees
Loan - Consumer
Loan - Student




Medication
Membership - AAA
Membership - Clubs
Membership - Condo Association
Membership - Fraternity/Sorority
Membership - Health Clubs
Mortgage/rent


Personal Care
Pet - Food/toys
Pet - Insurance
Pet - Vet trip
Pool - Repair/Maintainance
Pool - Supplies
Retirement
Saving
Subscriptions
Tax - Auto
Tax - Income
Tax - Property

Union dues
Utility - Cable
Utility - Cell phone
Utility - Electricity
Utility - Heat
Utility - ISP
Utility - Phone
Utility - Water
Vacation
Median income of current Ouppational Outlook Handbook
Median income of current Ouppational Outlook Handbook
in annual column only. 5% of monthly savings times 12, and
any income from investments or rental property
 = Your income + Spouce's income+other income
 = 28% of total income
 = total income - taxes (see savings)



if your car is less than 5 years old assume you have a loan for
80% of the purchase price, at current interest rates for 5 years.

35/year, required if you have an auto

I Warwick it is $34.60/1000/year, required if you have an auto
Girl scout cookies, church, your child's school has fund raisers,
Amer. Red Cross


never too soon to start
If you are both working it is required, elementry school children
require after school care at least


If you have children and plan to go out and not take them


Are you taking course now?



Even if you have a house full of furniture it wears out.
Birthday, holiday, anniversary, friends (kids friends), relatives


Razor, shaving cream, shampoo, deoderant



Depending where you live it might be needed
Even if you do it yourself you need a mower, gas and oil, tools,
trashbags, etc.

Things break
Cleaning supplies
If you are in the medical field you NEED it and you may want it
in other professions
If you have a car it is required

If you have a home it is required. Assume 1.5% of the home's
value per year
Research how much it would cost to go to the college of your
choice each year. Don't forget meals and dorms if it is outside
RI. Assume that you were able to come up with $5000 a year
for college. You can get more if the adult you work with is
planning to pay more on your behalf. The rest will be paid as
part of a college loan. Assume 5% interest and paid off in 10
years.




 mortgages are based on 90% of asking price at current
interest rates for 30 years and can not be more than 28% of
your income (see taxes - income)
Hair cuts, dry cleaning, massage

(what if they bite someone?)



never too soon to start
Required expence >= 10% of net income
(news paper, magazines, professional journals, TV Guide)
I Warwick it is $34.60/1000/year
 = 28% of your gross income
Required if you own a home. In Warwick it is $25.80 per 1000
of the property's value.
(required for some jobs)
                                                                            71
                                                                            35
                                                                  120 130
                                                                            219
                                                                             20
                                                                  45   50
                                                                            20
Personal Property Inventory
for
as of today




Personal Property Inventory.
for
as of 10 years from now




              Adult signature
I have
reviewed the
above
Personal
Property
Inventory. I
believe that it
is complete
and accurate
for the life
style of my
student
PAYER'S name, street,city, state, telephone number                 1a Total ordinary dividends     OMB No.1545-0110

Some Investment Co                                                  $              9.00
                                                                   1B Qualified dividends
234 Big Fees Dr                                                                                              20XX
                                                                                                   Form 1099 DIV
Moneytown, PD 83593                                                 $              9.00
                                                                   2a Total capital gain distr.    2b Unrecap. Sec 1250 gain




PAYER'S federal identification        RECIPIENT'S identification

number                                number

78-34754
RECIPIENT'S name                                                   2c Section 1202 Gain            2d Collectibles (28%) gain

Your name                                                                        $0.00                                    $0.00
                                                                   3. Nondividend distributions    4 Federal income tax withheld

Street address                                                                                                            $0.00
                                                                   6 Foreign tax paid              7 Foreign country or US Possession

City, state, and ZIP code



Account Number (see instructions)                                  Cash Liquidation Distribution   Nocash liquidation distributions

69258-58423-5547
Dividends and
Distributions
Payer's Name, street address city state, ZIP code and telephone no.                  Payer's RTN (optional)
Your Investment Co.                                                                  8760-89


Great Return Blvd.
Cashncarry, Il 97788
876-556-8943
Payer's Federal Identification Number            Recipient's identification number   1 Interst income not included in box 3
55-68843-5669                                    123-45-6789                                #REF!
Recipient's name                                                                     2 early withdral penalty
Put your name here

Street Address                                                                       4 Federal income tax withheld




City, State, and ZIP code                                                            Foreign tax paid




Account number


form 1099 Int
 20XX
Form 1099 Int

3 Interst on US savings




5 Investment expences




Foregin country or US Posession
Control Number                            Void         For Official Use Only
02-1253                           2222222
Emplyer Identification number                                           Wages, tips, other Compensation
02888-1234                                                              $ 50,000.00
Employer's name, address, and zip code                                  Social security wages
My Employer                                                             $ 50,000.00
Working Hard Dr.                                                        Medicare wages and tips
Anytown, USA 02996                                                      $ 50,000.00
                                                                        Social security tips
                                                                        $         -
Emplyee's Social Security Number                                        Advanced ECI payments
123-45-6789                                                             $         -
Employee's first name                      Last name                    Nonqualified plans
Put your name here                                                      $         -
                                                                        Statutory employee
86 Main St                                                              $         -
YourTown, USA, 02995-1276

Emplyee's address and zip code
State          Emplyer's state ID number               State Wage       State income tax
               786-335-669                             $ 50,000.00      $ 2,875.00


W-2

Control Number                            Void         For Official Use Only
02-1253                           2222222
Emplyer Identification number                                           Wages, tips, other Compensation
2557788-6654                                                            $ 25,000.00
Employer's name, address, and zip code                                  Social security wages
Spouce Employer                                                         $ 25,000.00
Working Dr.                                                             Medicare wages and tips
Anytown, USA 02996                                                      $ 25,000.00
                                                                        Social security tips
                                                                        $         -
Emplyee's Social Security Number                                        Advanced ECI payments
123-45-9876                                                             $         -
Employee's first name                      Last name                    Nonqualified plans
Make up a name                                                          $         -
                                                                        Statutory employee
86 Main St                                                              $         -
YourTown, USA, 02995-1276

Emplyee's address and zip code
State          Emplyer's state ID number               State Wage       State income tax
               6658-8872-12224                         $ 25,000.00      $ 1,437.50


W-2
other Compensation          Federal income tax withheld
                             $ 11,500.00
                            Social security tax withheld
                             $ 3,100.00
                            Medicare tax withheld
                             $      72.50
                            Allocated tips

                            Dependent care benefits

                            Seee instructions for box 12a

                            12b

                            12c

                            12d
                Local wages Local income tax
                 $      -    $        -




other Compensation          Federal income tax withheld
                             $ 5,750.00
                            Social security tax withheld
                             $ 1,550.00
                            Medicare tax withheld
                             $      36.25
                            Allocated tips

                            Dependent care benefits

                            Seee instructions for box 12a

                            12b

                            12c

                            12d
                Local wages Local income tax
                 $      -    $        -

				
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