Gov/Econ- Vinson

Unit Five

Rat Race- Monthly Budget Worksheet

Complete this worksheet with as much accuracy as possible, using all of the information you have gathered for
the other worksheets I have given you. Consult the “Taxes & Utilities” handout for specific figures and costs:

Rent (your share): $899.50

Utilities (water/sewer, garbage/recycling, gas/electric): Water and
sewage= $33.00
garbage/recycling
=$20.00
Gas and
electric=$60.00
Internet: $37.00 per month
Phone: $45.00 per month
Streaming services/subscriptions: Netflix per month:
$8.99
Hulu per month:
$5.99
Comcast per
month: $39.00
Automobile (payments, insurance, gasoline): $289.00 per
month//car
payment
$120.00 per
month// gasoline
$97.00 per
month//
auto-insurance

Laundry ($3.50 to wash and dry each load): $3.50 per week
$15.16 per month
Weekly shopping (from “Weekly Shopping” worksheet): $177.99
Total Monthly Expenses (normal month): $1,847.63
Total Moving-In Costs (from “Moving In & Setting Up” worksheet): $904.73
 Total Monthly Expenses (first month[add the two rows above]):
$2,752.36
Now it’s time to make the most significant calculation:

Monthly Income (adjusted for withholding):

$4,920.85
Add “Total Moving-In Costs” (including your share of the security deposit) and
“Total Monthly Expenses” to determine your overall expenses for the first
$3651.86
month:

Subtract the number in the row above from “Total Monthly Income” to
determine your budget for the first month:
$1,268.99
Subtract “Total Monthly Expenses” from “Total Monthly Income” to determine
your budget for a normal month:
$3,073.22

This is the number we’ve been working

for weeks! Don’t get it wrong,
or you’ll literally pay for it!