Budgeting Activity

Monthly Income $___________

Total Taxes $___________

After Tax Income $___________

Total Expenses $___________

Cushion $___________

PERSONAL MONTHLY BUDGET

Monthly Expenses

Taxes Housing Food Loans

Entertainment Transportation Personal Care Savings

AVERAGE INCOME IN THE U.S.

Cashier Construction Worker

LawyerRegistered Nurse

$20,000$46,000

$66,000$92,000

TAXES

Type of Tax Florida New York California

Sales Tax 6% 4% 7.25%

State Income Tax

0% 4% - 6.85% 1% - 10.3%

Local Tax Up to 1.5% 3% - 4.75% Up to 2.5%

HOUSINGBASED ON A 2010 COMPARISON OF 2BR APARTMENTS

Source: NakedApartments, Inc.

HOUSING

Limited service: $60Unlimited service: $90

Smartphones: $50

Cell phone Cable and Internet

Basic Cable: $30Basic Internet: $30

HBO and High Speed Internet: $200

Maintenance and Utility

In a NYC apartment: $600In a Phoenix apartment: $150In a Miami apartment: $350

$200 - $500 per month

FOODGROCERIES OR DINING OUT?

LOANS

Average College TuitionPublic University $6,585

Private University $25,143

Average Student Loans$22,700

5 Years 10 Years 30 Years

Per Month $428.38 $240.70 $121.86

ENTERTAINMENT

Concerts$20 - $60

Games$20 - $60

Dates$10 - $70

Movies$8 - $12

TRANSPORTATION

Type of Vehicle Cost(factory price)

Insurance(first year/per month)

Fuel (per month)

Maintenance (first year/per month)

New Car(2011 Honda Civic)

$16,000 $80 $170 $15

Used Car(2006 Honda Civic)

$10,500 $80 $170 $40

Motorcycle(2011 Suzuki GSX R1000)

$13,500 $95 $135 $80

Truck(2011 Ford F-150)

$23,500 $85 $250 $40

Source: Kelly Blue Book

PERSONAL CARE

Tolietries Clothing

Gym Medical and Dental

$20 - $50 $80 - $300

$40 - $60Medical: $250 Dental: $35

SAVINGS

Retirement Savings Account

Risk vs. ReturnOther ways of investing your money

Roth IRA or 401(k): 5 - 10% of income

Earns interest

Stocks Bonds Mutual Funds Property