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1 PERSONAL BUDGET Class Project Mr.McEwen. 2 Introduction Make a Household Budget Use the Basic Math Skills Necessary to Make a Balanced Budget Valuable.

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Presentation on theme: "1 PERSONAL BUDGET Class Project Mr.McEwen. 2 Introduction Make a Household Budget Use the Basic Math Skills Necessary to Make a Balanced Budget Valuable."— Presentation transcript:

1 1 PERSONAL BUDGET Class Project Mr.McEwen

2 2 Introduction Make a Household Budget Use the Basic Math Skills Necessary to Make a Balanced Budget Valuable Life Skill

3 3 Overview Try to make a monthly budget Explain how all the individual costs fit together for financial wellness Realistic as possible Gas Ed u Misc Car Food Fun Bill Rent Job

4 4 Income List the income by: –Hourly wages –Monthly wages The amounts allotted to each grade. –A: $40/hourB: $ 32/hour –C: $24/hourD: $16/hour –F: $8/hour

5 5 Income Gross income State Taxes Federal Taxes SDI FICA Net income

6 6 Household Expense Taxes* Mortgage * Food * $5/meal, 3 meals/day, 30 day/mo Heating/Cooling @ $0.35 per sq ft * Phone – land line Garbage/Water @ $96 (Modesto) Transportation* –* indicates a must have

7 7 Optional Expenses Car Payments –G–Gas –M–Maintenance –I–Insurance Credit Cards – payment only Entertainment –S–Satellite TV –M–Movies

8 8 Summary Want Income as Hourly & Monthly Want a List of Monthly Expenses Want a Total of Monthly Expenses Want a Income/Expense Comparison –M–Monthly –Y–Yearly –N–No negative balances Conclusion – What have you learned?

9 9 Internet Information Government websites have current SDI & FICA deductions. Look up current Federal & State Taxes Workmans comp costs You may look up property costs in other states There are sites with minimum costs for expenses Need a list of each website for references

10 10 Where to Get More Information Modesto Bee Internet sites –Modbee.com –ATT.com –PG&E.com –Google –Hud.gov Parent/Guardian

11 11 Budget Example

12 12 Conclusion Page Conclusion must be about a page in length Should be typed and double spaced Need to explain what you have learned from this exercise Want to include what kind of job would be needed to earn your dollar amount Where you would have to live Realistic earns max points.


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