PERSONAL BUDGET #1

MONTHLY INCOME:

You are earning $14.50 per hour.

Use the following calculations to determine your monthly take-home (net) income,
based on a 28% tax rate:
14.50 per hour x 40 hours x 52 weeks x 72% (.72) net pay after taxes, then divide by 12
months = $$1809.60

MONTHLY EXPENSES:
(NOTE: the total expenses MUST equal the monthly net income)
*
*

*
*
*
*
*
*
*

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.

Rent
Food
Telephone (basic service/long distance, cell)
Gas (heating)
Electric
Laundromat
Car Insurance
Car Payment OR Car Repair Account
Gasoline
Entertainment
Clothing
Gifts
Health Insurance (above what employer pays)
Savings

$555.00
$282.54
$10.00
$40.00
$299.84
$14.00
$119.37
$225.01
$52.47
$17.83
$15.63
$9.00
$75.00
$93.91

TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1809.60

(All asterisked items must show calculations and details on additional pages.)
NOTE: Roommates can share the cost of rent only.