Personal Monthly Budget Worksheet

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Complete the Budget Worksheet. NOTE: Make sure to choose an entry level job/career that you have the current qualifications necessary to be hired. Do not choose a job that requires additional education or experience that you currently do not have.

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Personal Budget Worksheet NAME: ______________________________________ To complete this exercise, you will need to select a city or town and research the typical starting salary there for your chosen occupation. NOTE: Make sure your occupation is a job that requires an undergraduate degree and is not a job that requires more education or experience than you have at the time you graduate. You will also need to research the cost living there, specifically expenses like rent or mortgage, utilities, gas, etc. Websites that may help with your research: www.salary.com, www.homefair.com, www.fueleconomy.gov, http://www.eia.gov, and www.costoflivingbystate.org ______________________________________________________________________________ Based on the research you did earlier in the course, identify an occupation you may pursue. Occupation: ________________________ Town/City: ________________________ State: _________________ Average entry level salary for this occupation in your chosen city or town: ________________________ Total Annual Gross Pay $ __________________ (Select amount based on research) Monthly Gross Pay: $ __________________ (Divide total by 12 for this amount) Subtract: 1/3 of total income for taxes $ __________________ Monthly Projected Income (THIS SHOULD BE MONTHLY - NOT ANNUAL SALARY) $ ________________ HOUSING Projected Cost ENTERTAINMENT/PERSONAL Mortgage or rent $0 Video/DVD Phone $0 CDs Electricity $0 Movies Gas $0 Concerts Water and sewer $0 Sporting events Cable $0 Live theater Waste removal $0 Other Maintenance or repairs $0 Other Supplies $0 Other Other $0 Total Total $0 LOANS TRANSPORTATION Projected Cost Projected Cost $0 $0 Projected Cost Personal Vehicle payment $0 Student Bus/taxi fare $0 Credit card Insurance $0 Credit card Licensing $0 Credit card Fuel $0 Other Maintenance $0 Total $0 TAXES $0 Other Total Projected Cost Federal INSURANCE Projected Cost State Home $0 Local Health $0 Other Life $0 Total Renter's Insurance $0 Total $0 SAVINGS OR INVESTMENTS $0 Projected Cost Retirement account FOOD Projected Cost Investment account Groceries $0 Other Dining out $0 Total $0 GIFTS AND DONATIONS $0 Other Total Projected Cost Charity 1 PETS Projected Cost $0 Charity 2 Food $0 Charity 3 Medical $0 Total Grooming $0 Toys $0 Other LEGAL $0 Projected Cost Attorney Total $0 Alimony Payments on lien or judgment PERSONAL CARE Projected Cost Child Support Medical Total $0 Hair/nails Clothing TOTAL PROJECTED EXPENSES $0 TOTAL PROJECTED MONTHLY INCOME (Get Figure from Above) $0 SAVINGS/LOSS $0 Dry cleaning Health club Organization dues or fees Prescriptions Total $0 Answer the following questions regarding this budgeting worksheet: 1. Based on your projected income and expenses, is there anything you will do differently when budgeting for your full-time position? 2 2. What expenses will you not give up regardless of your income? 3. Which expenses can you do without if you have to adjust to stay within your budget? 4. What surprised you about the results of your savings/loss from this budget assignment?
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Hello, so here is what I have so far for the question? Do you need me to complete the pet section? I am a little confused as to who's budget this is. For loans and credit cards do you want me to fill something in? Please let me know.

Personal Budget Worksheet NAME: ______________________________________
To complete this exercise, you will need to select a city or town and research the typical starting salary there for
your chosen occupation. NOTE: Make sure your occupation is a job that requires an undergraduate degree and is not a job
that requires more education or experience than you have at the time you graduate. You will also need to research the
cost living there, specifically expenses like rent or mortgage, utilities, gas, etc. Websites that may help with your
research:
www.salary.com, www.homefair.com, www.fueleconomy.gov, http://www.eia.gov, and
www.costoflivingbystate.org
______________________________________________________________________________
Based on the research you did earlier in the course, identify an occupation you may pursue.
Occupation: Administrative Assistant ________________________
Town/City: Riverside ________________________
State: California _________________
Average entry level salary for this occupation in your chosen city or town: $14.31 per hour_____
Total Annual Gross Pay $ 36,513.00 (Select amount based on research)
Monthly Gross Pay: $ 3,042.75 (Divide total by 12 for this amount)
Subtract: 1/3 of total income for taxes $ 1,014
Monthly Projected Income (THIS SHOULD BE MONTHLY - NOT ANNUAL SALARY) $ 2,028.75

HOUSING
Mortgage or rent
Phone

Projected Cost
$1.537

Actual Cost
$1.400

Difference
$137

$100

$100

$0

Electricity

$90

$60

$30

Gas

$40

$180

-$140

Water and sewer

$78

Cable

$40

ENTERTAINMENT/PERSONAL

Movies

$20

Concerts

$50

$78

Sporting events

$50

$40

Live theater

$25

$25

Other

$100

Other

Supplies

$0

$0

Other

Other

$0

$0

Total

Maintenance or repairs

Total

$1.970

$1.740

Projected Cost

Actual Cost

Difference
$0

Student

$0

Credit card

Insurance

$100

$100

Credit card

Licensing

$150

$150

Credit card

Fuel

$200

$200

Other

$0

$0

$250

Bus/taxi fare

Maintenance

$250

Total

$0

$0

Other
Total

Projected Cost

Personal

$0

Vehicle payment

$120

$230
LOANS

TRANSPORTATION

$0

CDs

$100

Waste removal

Projected Cost

Video/DVD

$700

$250

$450

TAXES

Projected Cost

Federal
INSURANCE

Projected Cost

Actual Cost

Difference

State

Home

$0

$0

Local

Health

$196

$196

Other

Life

$0

$0

Renter's Insurance

...


Anonymous
Great study resource, helped me a lot.

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