NAME: DATE: PERIOD:
DIRECTIONS: Please read scenario below. First, enter values in the PROJECTED COST column based on what you already know. Then, use the Internet to find the actual costs as, needed. Enter the values found on the Internet in the gray boxes below as you work, then transfer the data to the ACTUAL COST column in the spreadsheet provided. It is okay if the PROJECTED COST and ACTUAL COST columns have different numbers. Save this file in your folder as Monthly Budget-Your Name; save your work often.
You are currently living in (identify a major city):
You are: Single Married Divorced
You have girls, ages ; and boys, ages .
You must name your spouse and children in the blanks below, if applicable :
Spouse:
Child #1: Child #2: Child #3:
You are responsible for creating a monthly budget for your family for this month. Your budget must be realistic and you must live within your means (don’t get in debt). Please update the provided spreadsheet to reflect your family's monthly income and expenditures with the following information in the ACTUAL COST column:
Your occupation is:
(Please find and enter the annual income for this occupation in the city where you live, then divide that amount by 12, the number of months in a year, to determine your gross monthly income.)
Your spouse's occupation, if applicable :
(Please find and enter the annual income for this occupation in the city where you live, then divide that amount by 12 to determine their gross monthly income)
If you are divorced, you have custody of the children and your monthly child support is:
You live in a bedroom apartment with your family.
(Please find the cost of the apartment per month)
If your apartment doesn't include garbage pickup , water , parking fees , gas
, heating , and lights , please determine your monthly costs for these expenses.
You will need renter's insurance for your personal contents in your apartment. Please find this monthly expense.
Please determine your monthly telephone expenses (home and cell).
Please determine your monthly cable expenses.
Please determine your automobile expenses (monthly payment , insurance , routine maintenance and oil changes , car washes , and gas ).
Calculate your monthly entertainment expenses. Please find and enter at least two family entertainment venues in your city (i.e. movies, games, theme park, etc.). Calculate the monthly

cost for your family to attend those events.
Clothing expenses: Determine the monthly clothing expense for your family. Break down the items you will purchase for each family member.
Food expenses: Determine the monthly food expenses for your family.
Childcare expenses: Find and enter the monthly childcare expenses for your family. Even if your children are school-aged, you must budget for after school care.
Household items - i.e. Toilet paper, shampoo, deodorant, cleaner, newspaper, etc. Please determine your monthly expenses for household items.
Personal Care: haircuts, manicure, etc. Please breakdown these expenses and calculate your family's total monthly expenses.
Gifts: You must buy two birthday gifts for family members. Please find the gifts you will be giving and calculate your monthly expense.
Savings: The remainder of your income
expenses are paid will go into a savings account. Please indicate the amount you will put in your savings account, monthly.
Standard Covered:
BCS-BE-26:
The student explains the process in developing a budget. a. Identifies and establishes financial goals for the business. b. Analyzes and describes sources of income for the business venture (i.e., sales and labor). c. Compares and contrasts the differences between fixed and variable expenses. d. Identifies and describes unexpected expenses (i.e., fines, fees, and unexpected repairs). e. Identifies and describes fixed expenses (i.e., rent and insurance). f. Identifies and describes variable expenses (i.e., telephone and electricity). g. Researches and analyzes ways to maintain a positive cash flow.