MONEY.................... Money................ money
You will need to create a budget. You can work with a partner and submit one budget for both. Here is the scenario
You are making $10 per hour.
You work 40 hours a week
Your average month is 22 days.
You will have to pay taxes, social security, and other deductions plus health insurance so your net or "take home" pay will be around $8 per hour.
You will need to rent an apartment. You get to have a room mate so you will have to pay half of the rent and utilities. You will need to provide an ad for an actual apartment ( you can use craigslist for this). You can choose to live in Bremerton, Bellingham, or Bellevue. Please provide address for apartment.
You will need to fund an automobile payment, insurance, repairs, and pay for gas if you have a car.
You will need to find a cell phone plan you can finance if you need a phone.
You may want internet.
You will need to feed your self so you need a food budget.
You will need toilet paper, tooth paste etc under Household.
You will want to entertain yourself so you need a budget for that.
You will want to wear clothes so you need a budget for that.
You may wish to have a savings account.
Using the above parameters Select a city to live with one room mate.
Find an ad for housing that you think will work for you. Snip the ad and save it.
You will need a car. You can buy one for X amount of money. For example, you could spend some money and finance $2000 over 2 years. At an interest rate of 5% you should be able to calculate a monthly payment.
Include: What city you are living in, the snipped Craigslist ad, what you are paying for your car, how long you will finance it, and what the monthly payment is.
Then use a spreadsheet and develop the budget on the right side. You should be able to paste all of this information into a single spreadsheet. When you print it, turn on the grid and format it for easy reading.
Personal budget for "your name"
(Monthly Expenses entered in a spreadsheet)
Please build the budget in excel or use the google spreadsheet.
Use a format like in the image above. Simplify the math so that your weekly budget is one fourth of your monthly. Four weeks has 20 days and an average month has 22 days. If you budget for 22 days at 8 hours a day you get a bit more money. Yearly totals are monthly expenses times 12.
The smart budget person enters values in the weekly column and uses the sum button to create the total at the bottom. To build the Monthly column the smart budget person enters a formula to get the values in the second colum. For example, the monthly rent above would be 4 times the weekly rent.On this spreadsheet the weekly rent is in the cell C4. The formula for D4 would be the following: =C4*4 enter
Then you select the small square (lower right corner of C4 and drag down). This fills the spreadsheet automatically for Monthly totals.
The formula to get monthly amouts for rent in D5: =D4*4 enter
Remember a $4.00 coffee 6 times a week is about $25 per week, $100 per month and $1200 per year. Think about it.