budgeting for your future…

Budgeting for Budgeting for Your Future…Your Future…Ms. SmithPersonal Finance

Would you like to live in an:

a. Apartmentb. Condominiumc. Townhouse

Would you like to dine out:a. Hardly everb. 2-4 times a weekc. 5-10 times a week

Will you go clothes shopping:a. Once a monthb. Three times a monthc. Five or more times a month

Will your telephone service include:

a. No primary telephoneb. Basic servicec. Basic service + long-distance calling

Will you drive a:a. Neon/ Ford Focusb. Grand Prix/ Mini Vanc. Sports car/ SUV

Would you like to drive a:a. Brand new carb. 2-6 year old carc. 6+ year old car

Will you charge:a. Many expensesb. Some expensesc. Very few expenses

Will you have:a. Basic cableb. Basic + movie channelsc. Direct TV

Will you go to the movies:a. Once a monthb. Twice a monthc. Once a week

Will you have the Internet:a. Nob. Dial-upc. Cable/ high speed

Will you have a cell phone:a. Nob. Basic low minute planc. Unlimited plan/ optionsd. Primary line

When buying personal items, you buy:a. Name brandsb. Sale brandsc. Store brands

When giving gifts during the holidays, you:a. Buy a couple modest giftsb. Buy for immediate family, spending a

good amount of moneyc. Give extravagant gifts to everyone

you know!

On a monthly basis, you plan to:a. Put some money into a savings

accountb. Save a ½ of your disposable income,

plus invest in stocksc. Save most of your disposable income,

while investing the remainder in stocks

Now let’s see how much your monthly expenses

will be!• Be sure to record the following

expenses in your worksheet.

Rent/ Mortgage:a. Apartment

0 $800.00

b. Condominium0 $1000.00

c. Townhouse0 $1500.00

Utilitiesa. Apartment

0 $200.00

b. Condominium0 $300.00

c. Townhouse0 $400.00

Groceries:a. Hardly ever

0 $500.00

b. 2-4 times a week0 $400.00

c. 5-10 times a week0 $300.00

Clothing:a. Once a month

0 $50.00

b. Three times a month0 $150.00

c. Five or more times a month0 $250.00

Telephone:a. No primary telephone

0 $0.00

b. Basic service0 $20.00

c. Basic service + long-distance calling0 $40.00

Car Payment:a. Neon/ Ford Focus

0 $250.00

b. Grand Prix/ Mini Van0 $350.00

c. Sports car/ SUV0 $450.00

Car Insurance:a. Neon/ Ford Focus

0 $75.00

b. Grand Prix/ Mini Van0 $100.00

c. Sports car/ SUV0 $125.00

Gasoline:a. Neon/ Ford Focus

0 $100.00

b. Grand Prix/ Mini Van0 $200.00

c. Sports car/ SUV0 $300.00

Auto Repairs:a. Brand new car

0 $25.00

b. 2-6 year old car0 $50.00

c. 6+ year old car0 $75.00

Miscellaneous:a. Many expenses

0 $150.00

b. Some expenses0 $100.00

c. Very few expenses0 $50.00

Cable Television:a. Basic cable

0 $75.00

b. Basic + movie channels0 $100.00

c. Direct TV0 $125.00

Entertainment:a. Once a month

0 $20.00

b. Twice a month0 $40.00

c. Once a weeka. $80.00

Miscellaneous:a. No

0 $0.00

b. Dial-up0 $20.00

c. Cable/ high speed0 $40.00

Miscellaneous:a. No

0 $0.00

b. Basic low minute plan0 $40.00

c. Unlimited plan/ options0 $70.00

d. Primary line0 $100.00

Personal Care:a. Name brands

0 $60.00

b. Sale brands0 $40.00

c. Store brands0 $20.00

Gifts/ Donations:a. Buy a couple modest gifts

0 $75.00

b. Buy for immediate family, spending a good amount of money

0 $150.00

c. Give extravagant gifts to everyone you know!

0 $225.00

Other/ Savings:a. Put some money into a savings account

0 $100.00

b. Save a ½ of your disposable income, plus invest in stocks

0 $200.00

c. Save most of your disposable income, while investing the remainder in stocks

0 $300.00