My Budget Project
Here is your scenario. You have been at your current occupation for five years or less.
You are married and have two children. Your spouse does not work. You have
purchased a home in Iredell County with a 10% down payment or are renting a house in
Iredell County.
You are to prepare a budget for your family. You must include all of the information in
all sections. If you have school Internet permission, these will be done with online
resources. Answers will vary for the individual. If you are unsure what would be
included under each heading ask the teacher. The information needs to be accurate and
reasonable. We will be using the internet to gather much of the information. Some other
good sources may be available, including newspapers, banks, consumer price guides,
consumer magazines, Better Business Bureau, and many more. A great place to get help
in finding these numbers is your parents. We will discuss this project in detail in class.
We will be using these figures to prepare a spreadsheet budget and a graph - details and
samples will be provided later.
Career Information from:
Occupational Outlook at http://www.bls.gov/oco/ooh_index.htm.
1.
Job Title
2.
Job Description
3.
Yearly Salary
4.
Monthly Salary
5.
Weekly Salary
Housing Information from:
Homes.com at http://www.homes.com/Real_Estate/NC/County/IREDELL/.
1.
Are you renting or buying?
2.
How many bedrooms does it have?
3.
How many square feet?
4.
Describe your home:
5.
If you are buying, how much is the purchase
price?
6.
What is the monthly cost for your home?
Budget
1.
Taxes (Federal, State, Social Security, Medicare)
2.
House Payment
3..
Home Maintenance and Repairs
4.
Property Tax and All Other Taxes
5.
Car Payment
6.
Gas, Car Maintenance, and Car Repairs
7.
Utilities
8.
Telephone
9.
Household Expenses, Including Food
10.
Credit Cards
11.
Savings
12.
Life Insurance
13.
Car Insurance
14.
Home Insurance
15.
Medical Insurance
16.
Tithe/Charities
17.
Clothing
18.
Medical Costs
19.
Education Costs
20.
Recreation
21.
Vacation
22.
Other Expenses
TOTAL
INCOME
BALANCE