PERSONAL BUDGET
Class Project
Mr.McEwen
1
Introduction
Make a Household Budget
 Use the Basic Math Skills Necessary to
Make a Balanced Budget
 Valuable Life Skill

2
Overview
Try to make a monthly budget
 Explain how all the individual costs fit
together for financial wellness
 Realistic as possible

Rent
Job
Bill
Food Car
Gas
Fun
Misc
Ed
u
3
Income

List the income by:
– Hourly wages
– Monthly wages

The amounts allotted to each grade.
– A: $40/hour
– C: $24/hour
– F: $8/hour
B: $ 32/hour
D: $16/hour
4
Income
Gross income
 State Taxes
 Federal Taxes
 SDI
 FICA
 Net income

5
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
6
Optional Expenses

Car Payments
– Gas
– Maintenance
– Insurance
Credit Cards – payment only
 Entertainment

– Satellite TV
– Movies
7
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?
8
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

9
Where to Get More Information
Modesto Bee
 Internet sites

–
–
–
–
–

Modbee.com
ATT.com
PG&E.com
Google
Hud.gov
Parent/Guardian
10
Budget Example
Budget Example
Gross Income:
$
$
$
21.00 per hour
840.00 per week
3,360.00 per month
Federal tax
State Tax
SDI
FICA
Net Income
$
$
$
$
$
600.00
150.00
60.00
30.00
2,520.00
Monthly Expences:
Mortgage
Home insurance
MID/PGE
Pac Bell
Garbage
Cable
Food
Car Pay
Insurance
Gas
Visa
Total
$
$
$
$
$
$
$
$
$
$
$
$
600.00
125.00
144.00
80.00
55.00
65.00
550.00
400.00
150.00
200.00
100.00
2,469.00
Income
Expences
Difference
$
$
$
2,520.00
2,469.00
51.00
$
40,320.00 per year
per month
per month
per month
per month
per month
per month
per month
per month
per month
per month
per month
".12 x 1200 sq ft
$5.00 per meal minimum
$
$
$
$
-
per year
30,240.00
29,628.00
612.00
11
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.

12