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Budgeting for Your Future…. Ms. Smith Personal Finance. Would you like to live in an:. Apartment Condominium Townhouse. Would you like to dine out:. Hardly ever 2-4 times a week 5-10 times a week. Will you go clothes shopping:. Once a month Three times a month
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Budgeting for Your Future… Ms. Smith Personal Finance
Would you like to live in an: • Apartment • Condominium • Townhouse
Would you like to dine out: • Hardly ever • 2-4 times a week • 5-10 times a week
Will you go clothes shopping: • Once a month • Three times a month • Five or more times a month
Will your telephone service include: • No primary telephone • Basic service • Basic service + long-distance calling
Will you drive a: • Neon/ Ford Focus • Grand Prix/ Mini Van • Sports car/ SUV
Would you like to drive a: • Brand new car • 2-6 year old car • 6+ year old car
Will you charge: • Many expenses • Some expenses • Very few expenses
Will you have: • Basic cable • Basic + movie channels • Direct TV
Will you go to the movies: • Once a month • Twice a month • Once a week
Will you have the Internet: • No • Dial-up • Cable/ high speed
Will you have a cell phone: • No • Basic low minute plan • Unlimited plan/ options • Primary line
When buying personal items, you buy: • Name brands • Sale brands • Store brands
When giving gifts during the holidays, you: • Buy a couple modest gifts • Buy for immediate family, spending a good amount of money • Give extravagant gifts to everyone you know!
On a monthly basis, you plan to: • Put some money into a savings account • Save a ½ of your disposable income, plus invest in stocks • Save most of your disposable income, while investing the remainder in stocks
Now let’s see how much your monthly expenses will be! • Be sure to record the following expenses in your worksheet.
Rent/ Mortgage: • Apartment • $800.00 • Condominium • $1000.00 • Townhouse • $1500.00
Utilities • Apartment • $200.00 • Condominium • $300.00 • Townhouse • $400.00
Groceries: • Hardly ever • $500.00 • 2-4 times a week • $400.00 • 5-10 times a week • $300.00
Clothing: • Once a month • $50.00 • Three times a month • $150.00 • Five or more times a month • $250.00
Telephone: • No primary telephone • $0.00 • Basic service • $20.00 • Basic service + long-distance calling • $40.00
Car Payment: • Neon/ Ford Focus • $250.00 • Grand Prix/ Mini Van • $350.00 • Sports car/ SUV • $450.00
Car Insurance: • Neon/ Ford Focus • $75.00 • Grand Prix/ Mini Van • $100.00 • Sports car/ SUV • $125.00
Gasoline: • Neon/ Ford Focus • $100.00 • Grand Prix/ Mini Van • $200.00 • Sports car/ SUV • $300.00
Auto Repairs: • Brand new car • $25.00 • 2-6 year old car • $50.00 • 6+ year old car • $75.00
Miscellaneous: • Many expenses • $150.00 • Some expenses • $100.00 • Very few expenses • $50.00
Cable Television: • Basic cable • $75.00 • Basic + movie channels • $100.00 • Direct TV • $125.00
Entertainment: • Once a month • $20.00 • Twice a month • $40.00 • Once a week • $80.00
Miscellaneous: • No • $0.00 • Dial-up • $20.00 • Cable/ high speed • $40.00
Miscellaneous: • No • $0.00 • Basic low minute plan • $40.00 • Unlimited plan/ options • $70.00 • Primary line • $100.00
Personal Care: • Name brands • $60.00 • Sale brands • $40.00 • Store brands • $20.00
Gifts/ Donations: • Buy a couple modest gifts • $75.00 • Buy for immediate family, spending a good amount of money • $150.00 • Give extravagant gifts to everyone you know! • $225.00
Other/ Savings: • Put some money into a savings account • $100.00 • Save a ½ of your disposable income, plus invest in stocks • $200.00 • Save most of your disposable income, while investing the remainder in stocks • $300.00
