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PERSONAL BUDGET. Class Project Mr.McEwen. Introduction. Make a Household Budget Use the Basic Math Skills Necessary to Make a Balanced Budget Valuable Life Skill. Overview. Try to make a monthly budget Explain how all the individual costs fit together for financial wellness

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personal budget

PERSONAL BUDGET

Class Project

Mr.McEwen

introduction
Introduction
  • Make a Household Budget
  • Use the Basic Math Skills Necessary to Make a Balanced Budget
  • Valuable Life Skill
overview
Overview
  • Try to make a monthly budget
  • Explain how all the individual costs fit together for financial wellness
  • Realistic as possible

Rent

Job

Bill

Car

Gas

Food

Misc

Fun

Edu

income
Income
  • List the income by:
    • Hourly wages
    • Monthly wages
  • The amounts allotted to each grade.
    • A: $40/hour B: $ 32/hour
    • C: $24/hour D: $16/hour
    • F: $8/hour
income1
Income
  • Gross income
  • State Taxes
  • Federal Taxes
  • SDI
  • FICA
  • Net income
household expense
Household Expense
  • Taxes*
  • Mortgage *
  • Food * $5/meal, 3 meals/day, 30 day/mo
  • Heating/Cooling @ $0.35 per sq ft *
  • Phone – land line
  • Garbage/Water @ $96 (Modesto)
  • Transportation*
    • * indicates a must have
optional expenses
Optional Expenses
  • Car Payments
    • Gas
    • Maintenance
    • Insurance
  • Credit Cards – payment only
  • Entertainment
    • Satellite TV
    • Movies
summary
Summary
  • Want Income as Hourly & Monthly
  • Want a List of Monthly Expenses
  • Want a Total of Monthly Expenses
  • Want a Income/Expense Comparison
    • Monthly
    • Yearly
    • No negative balances
  • Conclusion – What have you learned?
internet information
Internet Information
  • Government websites have current SDI & FICA deductions.
  • Look up current Federal & State Taxes
  • Workman’s comp costs
  • You may look up property costs in other states
  • There are sites with minimum costs for expenses
  • Need a list of each website for references
where to get more information
Where to Get More Information
  • Modesto Bee
  • Internet sites
    • Modbee.com
    • ATT.com
    • PG&E.com
    • Google
    • Hud.gov
  • Parent/Guardian
conclusion page
Conclusion Page
  • Conclusion must be about a page in length
  • Should be typed and double spaced
  • Need to explain what you have learned from this exercise
  • Want to include what kind of job would be needed to earn your dollar amount
  • Where you would have to live
  • Realistic earns max points.
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