1. Personal Monthly Budget This power point will help you to complete your PMB project

2. Income Gross Income Formula: Net Income: Other Income: Interest/Dividends Student Loans/Scholarships/Grants Family Contributions

3. Housing Housing formula: No More than 33% of Net Income Find an apartment that fits within your budget Renter’s Insurance: $15/month Electricity: Calculate using $.07/square foot

4. College Costs These costs will be offset by Student Loans, Scholarships, Family Contributions to help cover these costs Go to the college website that you are most interested in and find out the info related to college costs

5. Daily Living Costs (Food and Grocery) Find the cost of food based on the USDA chart Thrifty Plan - low cost meats and canned fruits & vegetables (ie: Grocery Outlet) Liberal Plan - High quality meats and produce, organic foods (Whole foods, PCC) Household Supplies (Paper Towels, Napkins, TP, Soaps etc)- $20/month Laundry Supplies$10 – 15/month Dry Cleaning$0-20/month Cell Phone$40-80/month Internet$30-80/month TV$20-80/month

6. Transportation Use the Income to Debt Ratio Formula to calculate how much you can afford for a monthly car payment: (Gross Income x.42%) – Fixed Expenses (rent)=How much you can afford for monthly car payment GAS: Average American drives 1000miles/month, then divide MPG into 1000 miles = # Gallons … # Gallons x $2.80 = How much you will spend each month for GAS INSURANCE: Generally (girls - $75-200 depending on driving record) (guys - $100-300 depending on driving record) REPAIRS/MAINTENANCE: $.35 per mile driven (ie: $350/month) – Less if a new car TABS:$50-100/Year (/12 months) PUBLIC TRANSPORTATION: Bus Pass (check cost on-line)

7. Health Costs Go to Lifewisewa.com to find the cost of health insurance. Find the cost of Bronze, Silver and Gold Plans. Look at the premium and deductible for each plan: Check costs of Co-pays and prescriptions

8. Entertainment, Recreation, Gifts/Charities, Personal Items, Financial Obligations Use you own background, experiences and research to complete these sections

9. Summary Compare your Income to Expenses. If income is more than expenses, then decide where to increase spending to match income. If expenses are more than income where you will reduce? Reduce spending until it equals income. To Calculate Percentages: Divide the Category Total by the Net Income FINAL REFLECTION QUESTION: List 3 things you have learned through doing this PMB project.