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Making a Personal Budget

Making a Personal Budget. Mark Yocum & Kurt Schenck. The Story of a School District Superintendent and his roommate, the FBI Agent…. A Superintendent of a School District in Washington D.C. makes about $78,400 annually. An FBI Agent in the D.C. Area makes about $81,750.

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Making a Personal Budget

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  1. Making a Personal Budget Mark Yocum & Kurt Schenck

  2. The Story of a School District Superintendent and his roommate, the FBI Agent….

  3. A Superintendent of a School District in Washington D.C. makes about $78,400 annually. An FBI Agent in the D.C. Area makes about $81,750 Scope the Salaries

  4. For A Grand Total Of… $160,150

  5. Don’t Forget the Taxes! • Adjusted Combined Income after Taxes is $128,079 • That’s $32,071 out the window! • Uncle Sam sure packs a punch!

  6. Monthly Budget $10,673 dollars per month to play with! hehehe

  7. Let’s Go To D.C. • Kurt and Mark decide that their place of employment will be Washington D.C. • The nation’s capital seems like a good place to work.

  8. Chillin` in Baltimore • Kurt and Mark decide that living in Baltimore is cheaper and more fun than life in D.C. • The commute to D.C. from Baltimore isn’t too bad either. • Go Orioles!

  9. Stratton Meadows • Our Apartment is at 7414 Brixworth Court Baltimore, MD 21244

  10. Apartment Details • 3 bedrooms, 2 bathrooms, split-level, 1208 sq. ft., pet-friendly, water, sewer, trash, air-conditioned, alarm system, dishwasher, garbage disposal, microwave, private balcony, powder room , walk-in closets, wall to wall carpets for the low price of… • $1040/month

  11. The Floorplan • $10673.25 • $1040____ • $9633.25 adjusted monthly budget

  12. The Cars…VROOM!!! • Kurt’s Car is a 2002 Ford Escape • Midnight Blue • $725/month

  13. Keep on Truckin` • Mark’s Car is a 2002 Pontiac Aztek • Aztek Yellow • $679/month

  14. Total Budget Kurt’s car/month Mark’s car/month Gas to use vehicles Amount Remaining $9633.25 $725.00 $679.00 $250.00 $7979.25 Adjust the Monthly Budget ….Again

  15. Groceries/Food Expenses • Mark and Kurt are PIGS…and they like to eat all the time, whether it be groceries, or grabbing a bite here and there, or taking the ladies out on the town  • Estimated food cost per month = $1035.00 • Adjust Budget $7979.25 - $1035.00 = $6944.25

  16. Let’s Have Some Fun!!!WOOOOO!!! • Entertainment is a good way to relax after a stressful day of work. • This includes movies, golfing, sporting events, bar-hopping, not to mention romancing fly hunnies.

  17. Entertainment/Fly Hunnies Cost • Entertainment is a major expense… • Estimated Cost of Entertainment per month = $1100.00 • Adjust Budget $6944.25 - $1035.00 = $5909.25 We Like To Party!!!!

  18. Technology…the Key to the Future • There is “cool stuff” we still want to make our lives and jobs easier. • Computer, cell phones, internet access, PS-2, DirectTV, Stereo/Entertainment System

  19. We’ve decided to pay for half of the computer now ($750) plus internet ($45/month) Playstation 2 runs for $300 and the monthly cost of our stereo-entertainment center is $450 Additional Cool Stuff

  20. Paying the Bills • Some of this stuff isn’t too expensive! • DirectTV costs $39.99 per month • The cell phones were free with a mail-in rebate and since Kurt and Mark have a joint plan, they only cost $40/month combined with 500 weekday minutes and 1000 weekend minutes.

  21. Current Budget Entertainment Center Playstation 2 Cell Phones Computer Internet Access DirectTV New Budget Amount $5909.25 $450.00 $300.00 $40.00 $750.00 $45.00 $39.99 $4284.26 DO THE MATH

  22. Where To Put It All ??? • Kurt and Mark decide that 3 bedrooms is more than enough living space…why should 2 people need 3 rooms? • Kurt and Mark decide to turn the third bedroom into the ultimate entertainment pad. • And every ultimate entertainment pad needs a pool table!

  23. The New Floorplan • Kurt and Mark renovate the master bedroom into a gaming center. • Pool table runs for $1525.00 from Ebay • 8 foot solid maple pool table with carved ram’s horns

  24. Current Budget Cost of Pool Table Cost of Renovation New Budget $4284.26 $1525.00 $500.00 $2259.26 The Game Room Rules!!Do the Math

  25. Take It To The Bank • Life is not all fun and games, and some money must be saved, invested, and banked for odds and ends. • Mark and Kurt, being responsible adults, decide to put $1500.00 per month into a savings account for emergencies.

  26. Kurt and Mark also decide to set $700 per month aside for clothes, just in case either one of them needs a new tie, or shirt, or suit jacket. Not to mention your occasional casual wear from Abercrombie. Abercrombie, etc.

  27. Current Budget Money Saved Clothes New Budget $2259.26 $1500.00 $700.00 $59.26 More Math

  28. Are We Done Yet? • It would seem that Kurt and Mark have covered every aspect of a monthly budget. An apartment, cars, clothing, food, entertainment, renovations, and savings for odds and ends. • Yet, there is still one vital subject that Kurt and Mark have not dealt with… • Will $59.26 be enough? Have Kurt and Mark made a terrible mistake?

  29. One Word…

  30. TANG

  31. Current Budget Tang expense Final Monthly Budget $59.26 $59.26 $0.00 Nectar of the GODS

  32. Works Cited • www.rent.net • www.stepfour.com • www.occupationalhandbook.com • www.irs.gov • www.ebay.com • www.clipart.com • www.nbci.com • www.carprice.com

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