BUS 204 ANNUAL Budget Template
INCOME
Gross Wages
- Federal Taxes
- FICA Taxes
- Medicare Taxes
- Michigan Taxes
Net Take-Home Pay
$65,000
(9,103)
(4,030)
(942)
(2,925)
$48,000
Other Income
- Spouse's Take-Home Pay
- Interest Income
- Dividend Income
- Other
- Other
Total Other Income
Total ANNUAL Income
$0
0
0
0
0
$0
$48,000
Other Expenses
- Cable TV/Internet
$327
- Clothing
- Education/Student Loan Payments
- Electricity
- Entertainment
- Food (home)
- Food (meals away)
- Gasoline
- Gifts
- House Maintenance
- Health Insurance Deductibles/Co-Payments
- Natural Gas
- Personal Care
- Telephone (cell phone)
EXPENSES
Major Purchases & Insurance Coverage
- Vehicle Loan
- Mortgage
- Property Taxes
$12,347
14,880
1,747
- Disability Insurance
- Home Insurance
- Life Insurance
- Medical Insurance
- Vehicle Insurance
Total Major/Insurance Expenses
222
922
336
3,568
1,944
$35,966
Total Other Expenses
Total Annual Expenses
Surplus/(Deficit)
Insert Amount to be Invested
($3,000 minimum)
Insert Amount for Savings ($3,000 minimum)
FINAL SURPLUS/(DEFICIT)
150
0
559
0
436
200
1,500
100
150
2,038
50
0
80
425
0
0
0
0
0
0
0
$6,015
$41,981
$6,019
$3,000
$3,019
$0
Use this section to construct a Balance Sheet.
Refer to Chapter 3 for an example.
ASSETS
Cash on Hand
Savings account
Vehicle value
Tax refund due
Home Value
Clothing
$
$
$
$
$
$
400.00
3,018.00
12,347.00
700.00
124,000.00
340.00
Total Assets
$
140,805.00
Vehicle Loan
Home Mortgage
Home furnishings Loan
Total Liabilities
Net worth
$
$
$
$
$
11,347.00
124,000.00
3,000.00
138,347.00
2,458.00
0.3%
2.1%
8.8%
0.5%
88.1%
0.2%
LIABILITIES
9%
90%
2%