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My Budget

My Budget. Personal Finance. Income. Since I graduated with a 4-year degree, I earn $2,700 net pay per month. Income (continued). I am a librarian for a library in Chicago . . Savings. I am going to save 10% of my monthly income, or $270. Total: $270. Housing.

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My Budget

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  1. My Budget Personal Finance

  2. Income Since I graduated with a 4-year degree, I earn $2,700 net pay per month.

  3. Income (continued) I am a librarian for a library in Chicago.

  4. Savings I am going to save 10% of my monthly income, or $270. Total: $270

  5. Housing I decided to rent an apartment near Chicago. It’s one bedroom, one bathroom and it costs $800 a month, utilities included. Total: $0 (Will be calculated in next slide)

  6. Insurance/Taxes • $800 rent + $10.50 insurance = $810.50 a month. Total: $810.50

  7. Telephone • $50 prepaid unlimited from Verizon Total: $69.99

  8. Utilities • All utilities are included with my rent. Total: $0

  9. TV/Internet • I got Comcast cable and internet together for $69.99 a month. Total: $69.99

  10. Food • Bread • Peanut Butter • Jam • Frozen • Strawberries • Blueberries • Pineapple • Ras/blackberries • Frozen • Green Beans • Squash • Corn • Peas • Potatoes • Dried Beans • Onions • Green Peppers • Mushrooms • V8 • Pasta • Pasta Sauce • Tea • Bananas • Paper Towels • Rice • Bagged Salad • Cheerios • Soy Milk • Toilet Paper • Lettuce • Carrots • Sherbert • I’m budgeting $200 for food

  11. Transportation • I decided to buy a used 1996 Chevy Corsica for $695. I am going to take out a loan for it for just two years, with a monthly payment of $32.07. Total: $32.07

  12. Car Insurance • Since I am a young driver, my car insurance will be more expensive. I bought a used car, so I will pay $100 a month. Total: $100

  13. Gas/Maintenance • Gasoline will cost $3.50, and I drive 500 miles per month. My car is bad on gas, so it gets about 30 mpg. My total gas costs will be $58.34 a month, plus $15 for maintenance and repair. Total: $73.34

  14. School Loan • I went to a four year school, so my payments are $250. Total: $250

  15. Health Insurance • I have to pay for my own insurance, because my library doesn’t love me. Total: $200

  16. Entertainment and Leisure • I’m not going to budget anything for entertainment: I prefer to spend my free time reading library books. Total: $0

  17. Clothing I’m not picky with clothes, and I love shopping at thrift stores. For this reason my clothing costs never go over $25 a month. Total: $25

  18. Personal Care • I cut my own hair • Don’t wear makeup • Soaps and lotions: $8.67 Total: $8.67

  19. Credit Card Debt My credit card debt is $150. I’m going to pay 25% of it, or $37.50. Total: $37.50

  20. Pocket Money • I only carry $20 around with me because I am stupid and sometimes loose money. The $20 is for emergency coffee and homeless people. Total: $20

  21. Periodic Expenses I am taking a trip to New Orleans! I’m going to be driving down and spending two whole days exploring the lovely city before driving back up. (Cost: $108.15) I found a nice hostel I can stay at for three nights for a total of $48. I’m planning $100 for food. Total: $256.15

  22. Surplus At the end of this month, I have $2,423.2!

  23. Reaction • 1. I had to make a ton of adjustments – I probably spent more time on that than actually budgeting. • 2. I had to cut back on things like my phone and vacation plans.

  24. Reaction • 3. I donated $1000money to a local homeless shelter, because I think it’s important to improve the lives of people in my community. I’m going to start saving the rest for a vacation to Europe! • 4. It was pretty realistic, but there were some things I wouldn’t buy in real life, like cable and maybe phone. • This makes me more aware of how much my mom goes through to budget.

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