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Budget – Reality Check

Budget – Reality Check. Groceries. Amount to be set aside each month Monthly payment choices: $ 125 a month $ 150 a month $ 200 a month. Housing. Amount to be set aside each month Option 1- Loan amount $100,000: Monthly payment: $ 430 Option 2-

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Budget – Reality Check

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  1. Budget – Reality Check

  2. Groceries Amount to be set aside each month • Monthly payment choices: • $125 a month • $150 a month • $200 a month

  3. Housing Amount to be set aside each month • Option 1- • Loan amount $100,000: Monthly payment: $430 • Option 2- • Loan amount $130,000: Monthly payment: $555 • Option 3- • Loan amount $160,000: Monthly payment: $685

  4. Apartment Amount to be set aside each month • 2 bedroom, 1 bathroom apartment • $449 a month • 1 master bedroom apartment plus 1 bathroom • $499 a month • 2 bedroom, 2 bathroom apartment • $600 a month

  5. Utilities • Option 1 – Loan amount $100,000 • Electricity: $85 • Water/Sewer: $15 • Natural Gas/Heat: $30 • Option 2 – Loan amount $130,000 • Electricity: $150 • Water/Sewer: $25 • Natural Gas/Heat: $80 • Option 3 – Loan amount $160,000 • Electricity: $210 • Water/Sewer: $50 • Natural Gas/Heat: $110

  6. Utilities Amount to be set aside each month • Apartment • Electricity: $30 • Water/Sewer: $10 • Natural Gas/Heat

  7. House Insurance Amount to be set aside each month • Renters Insurance: • $15 a month • Homeowners Insurance: • House worth $100,000 - $60a month • House worth $130,000- $65 a month • House worth $ 160,000- $70a month

  8. Transportation Amount to be set aside each month • Walk or Bike– FREE • Bus – $30.00 a month • Car 2007 –Price: $8,000 - Monthly Payment: $124 • Insurance: $66 for girls, and $241 for boys. • Fuel: $150 (25 miles per gallon) • Maintenance: $20 • Truck 2006 – Price: $15,000 - Monthly Payment: $232 • Insurance: $87 for girls, and $237 for boys. • Fuel: $250 (15 miles per gallon) • Maintenance: $40 • Sports Car 2013 – Price: $30,000 - Monthly Payment: $464 • Insurance: $125 for girls, and $334 for boys. • Fuel: $180 (21 miles per gallon) • Maintenance: $80

  9. Furniture Amount to be set aside each month New Used Sofa, loveseat and chair Total $767.00 $64 a month Dining table & 4 chairs Total $200.00 $26 a month Bed, mattress and dresser Total $834.00 $70 a month Sofa, loveseat and chair Total 24 payments $20 a month Dining table & 4 chairs Total 24 payments $8 a month Bed, mattress and dresser Total 24 payment $30 a month

  10. Clothing New Used New clothes allowance $50 a month Used clothing allowance $15 a month Amount to be set aside each month

  11. School Loan Only Required if Degree was Received Amount to be paid each month $120

  12. Health Insurance Amount to be set aside each month Heath insurance for a healthy, non smoking person • Male • Deductable $1,500 • Monthly $211 • Female • Deducible $1,500 • Monthly $345

  13. Technology Amount to be set aside each month Basic Cable Cell Phone $60 a month for first year, then $80 a month 1 smart phone $60 a month 2 phones $120 a month Internet • $50 a month

  14. Dining Out Amount to be set aside each month • Little Caesar's • # per month x $5 • Golden Phoenix • # per month x $12 • Minervas • # per month x $25

  15. Recreation Amount to be set aside each month • YMCA membership: $37 a month • Winter ski package: $86 a month • Winter ice skating pass: $4 a day • Golf package: $45 a month • Racquetball: $12 a month

  16. Holidays and Gift Giving Amount to be set aside each month • Birthdays, anniversaries, Mothers day, Easter , Christmas, Fathers day, weddings, showers, baby, new home, office gifts, etc… • $10.00 a month • $20.00 a month • $40.00 a month

  17. Entertainment Amount to be set aside each month • Rush game- $14 a game • Concert Ticket: $60 a ticket • Netflix: • $8 a month (streaming only) • $12 a month (2 DVDs and streaming) • Movie Night • $7 day movie • $10 night movie

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