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Money Management

As a single parent of two, I manage a budget with an annual salary of $88,000 as a chemistry professor. My monthly take-home pay after taxes and insurance totals $5,739. Here’s a breakdown of my expenses, including mortgage, utilities, and children's activities. With diligent planning, I allocate funds for savings, tithes, and everyday necessities, constantly adjusting to ensure we meet our needs while preparing for the future. This provides insights into balancing responsibilities while fostering a nurturing environment for my family.

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Money Management

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  1. Money Management By: Bryce Brown, Conner Smith, and Brelan Hunger

  2. Description • My name is Bryce Brown I am single parent the father of two children. I am a chemistry professor at the local junior college. On average my annual salary is 88,000 a year. My son Brelan is a freshman in JROTC at Brandon High school. My daughter Conner is a dance student at the school of liberal arts. Here’s our monthly budget.

  3. Salary • Salary 88,000 dollars a year • Divided by 12 months • Equals 7,300 dollars • Subtract 660 dollars for state insurance • Subtract 934.22 dollars for taxes • Take home pay 5,739 dollars

  4. Expenses

  5. Continuing expenses

  6. Mortgage Payment- $610.74

  7. Credit Card- $76.10

  8. Grocery Bill- $134.22

  9. Telephone Bill- $20.21

  10. Cellphone Bill- $ 116.48

  11. Water Bill- $86.10

  12. Life Insurance- $145.70

  13. Gas- $50.00 x 3(times a month) = $150.00

  14. Car Repair- $357. 32

  15. Car Insurance- $340.90

  16. Medical Bill- $363. 60

  17. Conner’s Dance Pants- $21.40

  18. Brelan’s Army Pants and Shirt- $19.29

  19. Gas and Electricity Bill- $268.10

  20. Cable Bill- $131.18

  21. Budget Breakdown • $5,739 • - $573 (tithes and offerings) • -$610.76 (mortgage) • -$76.10 (credit card) • -$134.22 (grocery bill) • -$20.21 (telephone bill) • -$116.48 (cellphone bill) • -$86.10 (water bill) • -$145.70 (life insurance) • -$150.00 (gas) • -$357. 32 (car repair) • -$340.90 (car insurance) • -$363.60 (medical bill) • -$21.40 (Conner’s dance pants) • -$19.29 (Brelan’s army pants and shirt) • -$268.10 (Entergy bill) • - $131.18 (cable bill) • -$1000.00 (Savings) = 1,324.64 left

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