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My Budget Choices. Insurance Auto: Rates based on costs per month; full coverage, driving over 10 miles to work Type of VehicleNEWUSED Compact car$85$70.

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Presentation on theme: "My Budget Choices. Insurance Auto: Rates based on costs per month; full coverage, driving over 10 miles to work Type of VehicleNEWUSED Compact car$85$70."— Presentation transcript:

1 My Budget Choices

2 Insurance Auto: Rates based on costs per month; full coverage, driving over 10 miles to work Type of VehicleNEWUSED Compact car$85$70 Midsize sedan$80$65 Sports car$135$120 Small SUV/truck$70$55 Large SUV/ truck$155$140

3 Insurance cont. Renters (optional) *Rates based on $250 deductible Life Insurance (optional) $50,000 term life$10 per month Content ValuePer month $30,000$10 $60,000$15

4 Apartment Utilities Utility1 Bed2 Bed Heat$42$50 Electric$22$26 Water/ Sewer $8$10 Trash$7$10 Source: U.S. Department of Housing on Urban Development, Office of Public and Indian Housing Does your apartment include utilities? If NO… calculate the following utilities and add to your budget. You will split these costs if you have a roommate.

5 Home Phone Service (pick one) PackageIncludesPrice All distanceNo limits long distance calling$48.95 Local Saver PackUnlimited local calling$9.50 Local Saver 3030 local calls$0.50 Personal ChoiceCaller ID, and 2 features$27.95 Personal Choice +2 features and voic $33.95 Enhanced Choice5 features & Caller ID$35.95 Enhanced Choice +5 features, Caller ID, and voic $37.95 Saver Pack minutes of local toll calls$9.95 Saver Pack 6060 minutes of local toll calls$5.50 All long distance packages include local calling. Features are things like call waiting, caller ID, 3-way calling.

6 Cell Phone Plan NamePriceWhenever minutes Nighttime minutes Weekend minutes Basic$ Basic +$ Unlimited Get More$ Unlimited Get More 1,000$ day weekend$ Unlimited (Fri,Sat,Sun) Get more +$ Unlimited Get More Ultra$ Unlimited Get More Max$ Unlimited Get More Supra$ Unlimited Add unlimited texting to any plan for $10, internet and unlimited text for $15.

7 Wolves Cable & Internet PackagePremium ChannelsPrice StandardNone$41.99 Digital Platinum3$79.99 Digital Gold2$74.99 Digital Silver1$66.99 Digital PlusNone-music & onscreen guide $56.48 Wolves Internet Service Internet ServicePrice Dial-up$9.99 High speed$19.99

8 Groceries The above costs are for all food purchased at the grocery store and prepared at home. The costs do not include meals out. Source: Family Economic and Nutrition Review, Cost of Food at Home. Store/ type of shopperFemaleMale Low cost (Aldi)$135$150 Middle cost (Trader Joes or Joesphs) $160$190 High cost (Jewel or Dominick's) $205$230

9 Clothing Monthly SalaryCostMonthly SalaryCost Under $1,200$60$2,800-$3,099$170 $1,200-$1,399$80$3,100-$3,599$200 $1,400-$1,699$100$3,600-$3,799$225 $1,700-$2,099$120$3,800-$3,999$230 $2,100-$2,499$130Over $4,000$250 $2,500-$2,799$160 Clothing purchases vary by individual tastes and professional needs. The above costs are based on 5-6% of gross income. Source: Bureau of Labor Statistics, Consumer Expenditure.

10 Entertainment Movie (w/ popcorn & drink)$10 Video rental$5 Concert$50 Sports event (professional)$50 Quick lunch out$5 Leisurely lunch out$10 Dinner out $15 Party (food, beverage, etc.)$50 Mini vacation $350


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