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Budget

The document outlines an individual's monthly budget including income of $5,583.33 per month and expenses of $3,756.67 per month, leaving $66.21 in monthly savings. It would take over 56 years to save enough for a $45,000 down payment on a $225,000 house at the current savings rate. Key expenses include $1,400 for rent/mortgage, $600 for groceries, and $3,756.67 in total monthly expenses.

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arelis
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59 views1 page

Budget

The document outlines an individual's monthly budget including income of $5,583.33 per month and expenses of $3,756.67 per month, leaving $66.21 in monthly savings. It would take over 56 years to save enough for a $45,000 down payment on a $225,000 house at the current savings rate. Key expenses include $1,400 for rent/mortgage, $600 for groceries, and $3,756.67 in total monthly expenses.

Uploaded by

arelis
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Annual Monthly % of Income

Gross Pay $ 67,000.00 $ 5,583.33


Social Security $ 4,154.00 $ 346.17 6.20%
Medicare $ 971.50 $ 80.96 1.45%
INSURANCE $ 5,400.00 $ 450.00 8.06%
401K $ 3,350.00 $ 279.17 5.00%
Federal Income Tax $ 5,000.00 $ 416.67 7.46%
State Tax $ 2,250.00 $ 187.50 3.36%
TOTAL INCOME $ 45,874.50 $ 3,822.88
Rent/Mortgage $ 16,800.00 $ 1,400.00 25.07%
Groceries $ 7,200.00 $ 600.00 10.75%
Gas & Electric $ 2,700.00 $ 225.00 4.03%
Telephone & Internet $ 900.00 $ 75.00 1.34%
Cable $ - $ - 0.00%
Water $ 360.00 $ 30.00 0.54%
Renter's Insurance $ 360.00 $ 30.00 0.54%
Public Transportation $ 2,400.00 $ 200.00 3.58%
Car Insurance, Gas & Maintenance $ 2,360.00 $ 196.67 3.52%
Prescriptions & Medical Expenses $ 1,800.00 $ 150.00 2.69%
Student Loan Payments $ 1,800.00 $ 150.00 2.69%
Weekly Miscellaneous Expenses $ 2,400.00 $ 200.00 3.58%
Kids Lunch & Allowance $ 2,100.00 $ 175.00 3.13%
Entertainment & Activities $ 900.00 $ 75.00 1.34%
Clothes & Misc $ 3,000.00 $ 250.00 4.48%
TOTAL EXPENSES $ 45,080.00 $ 3,756.67
SAVINGS $ 794.50 $ 66.21
Downpayment for 225K house $ 45,000.00
YRS REQUIRED 56.64

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