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Get a life Abdul Haidara. Definition WordDefinition Income The consumption and savings opportunity gained by an entity within a specified timeframe, which.

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Presentation on theme: "Get a life Abdul Haidara. Definition WordDefinition Income The consumption and savings opportunity gained by an entity within a specified timeframe, which."— Presentation transcript:

1 Get a life Abdul Haidara

2 Definition WordDefinition Income The consumption and savings opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Expense Outflow of money to another person or group to pay for an item or service Gross Income An individual's total personal income before taking taxes or deductions into account. Net Income Is an entity's income minus cost of goods sold, expenses and taxes for an accounting period. Fixed Expenses expenses that do not change as a function of the activity of a business, within the relevant period.

3 Explore occupation ExpenseAmount Monthly (include source also): Student Loan N/A http://www.ncsasports.org/football-recruiting?lnkSrc=SAEF-PPC- Football-PE-Ptnr-US&Gcamp=A017PEP-Football&ADG=01- PE&LandingPage Utilities (10% of your rent or mortgage)$54.50 Rent or Mortgage Rent $545 per month http://www.rent.com/north- carolina/charlotte-apartments/the-timbers-4-447398 Car Loan $6000 $500 per month http://www.edmunds.com/calculators/?pmtcalAction=basic_calc Health Insurance 126.14 per month https://healthquote.healthmarkets.com/Quotes.shtml Savings (5% of your net income)$244.75 + 5.00 from bank savings per month Other: bank fee$15 Other: Internet and phone$14.95 http://www.attinternetservice.com/order.html Other: Car http://www.carmax.com/enus/view- car/default.html?id=11002920&Ep=homepage:homepage+PV1&pv=1 Other:

4 Monthly expenses All Fixed Expenses$2,000$1,090.06 New Leisure Clothes http://www.zumiez.com/brands/odd-future- clothing.html $80$64.75 New Business Professional clothes http://www.lacoste.com/us/lacoste/men/clot hing/new-arrivals/ $500.00$420.00 Car Gas$200.00$160.00 Video games Online http://www.xboxlivegold.com/?aid=32&gclid $12.00$10.99 Food$250.00$100.00 Total Expenses$3,142$1,425.80

5 Housing After you find a place to live, fill in this important information for your budget: Monthly cost: _____________$545__________ Percent of monthly income: ___________14.35%______ Cost of utilities: _____________69.45_________ Homeowners association fee or other expense: _______N/A______

6 Transportation Car: $40 per weekSUV: $60 per weekTruck: $50 per week Once you choose your transportation, fill in the information below: Monthly cost: Gas (Only for cars): ________________$160____________

7 Shop for home Washer and Dryer http://www.hhgregg.com/amana-3-5-cu-ft- top-load-washer-and-6-5-cu-ft-electric- dryer/item/NTW4605PAIR 599.99 Bed http://www.hhgregg.com/serta-twin- boxspring-for-sertapedic- mattresses/item/5006995010 120.00 Couch http://www.walmart.com/ip/14892632?wml spartner=wlpa&adid=222222 22227000542036&wl0=&wl1=g&wl2=c&wl3= 41079992672& wl4=&wl5=pla&wl6=78659079872&veh=sem 379.00 Dresser http://www.walmart.com/ip/34719093?wml spartner=wlpa&selectedSellerId=0&adidhttp://www.walmart.com/ip/34719093?wml spartner=wlpa&selectedSellerId=0&adid= 22222222227024023981&wl0=&wl1=g&wl2= c&wl3=4084541 3552&wl4=&wl5=pla&wl6=64049421895&ve h=sem 99.00 Lamp http://www1.macys.com/shop/product/style craft-conway-table- lamp?ID=1972598&CategoryID=57497#fn=sp %3D1%2 6spc%3D360%26ruleId%3D%26slotId%3D1 89.99 Microwavehttp://local.sears.com/Kenmore-Cu-Ft- Stainless-Countertop-Microwave/p- 02073093000P?st=1646&sid=IDx20141117x0 0001xlpla#!/ 89.99

8 Major event Major Event: ___Marriage in Bahamas________Cost: __$2,763.98____________________ Income – Event: _____________$7,275.80___________________ Do you have money left over, or will you be short on your budget? _______$204______________________________ How much money do you have in your savings? _________$2,380.80______________________________________ _____ Minus your savings, now determine how much more money you need or how much money you have left over _________________________$2,131.02______________________ Make any adjustments needed to your budget for the year.


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