Name My Budget Work Sheet Welcome to the future in Mad City. Congratulations! ca (Ou graduated, maybe got married, and landed a job. You also have goals, penses, and bills. Now you need a budget so you'll know just how much of your hard-earned money you can spend on day-to-day living expenses and, of course, how much Onn saunter Raa Sanaa a BO “ Directions * Use this work sheet to determine how much» Complete My Spending & Savings Plan by money you will allocate to each category on _the end of the session. My Spending & Saving Plan. + Your goal is to end up with no more + Visit all the Mad City merchants and make than $100 in your checking account. That Purchases. You will pay each merchant with __-means you can't be overdrawn. It also means your debit card. that any money in excess of $100 must be put + Visit the merchants in any order. in savings, used to reduce debt, or spent on + Remember to balance your account every time your goals. you make a transaction. My Income Use the information on your “About Me” statement to complete this section. My take-home salary s12ate VienNS2" helo? r 7 4+ Spoues take-home estar GF maried) 2,07 F st the Creait Union suman so BR = Student loan payment_2OO. nter this amount a the sumer 36D Radanoti = Medical naurane copay 200) your rei household income, [$2,429] Total monthly |Visit Really Realty & Utait Savings Plan, Mortgage/rent paymant Electricity/>heat payment Water/sewer payment 'naurance payment (optional Phoneseable/ntemet Total housing expenses Make lousing choix nd add up the total monthly costs. Enter the total on My. Spending @ e,fousing choice and > Visit Really Enter this amount Need help> Realty uti ties in your Debit Card Register ‘and subtract to find your balance remaining. V ter rrenenetaney Via Big Wheele Ni ; Make transportation for yourself and your spouse, Ene al Your transportation Monthly payment Car insurance Gas for month Vehicle repair Bus pass (if applicable) Spouse’s transportation Monthly payment Car insurance Gas for month Vehicle repair Bus pass (if applicable) Total transportation expenses new e ed Saving a care sig Enter t unt in ‘avings @ tributions» Enter this amount in and subtract to fin: your Debit Card Register 'd your balance remaining. PageMy Entertainment Visit Fun Stuff to buy sports equipment, hobby supplies, movie and concert tickets, vacation pack ages, and more. Select at least 2 entertainment activities for each person age 2 or older in your household, You can select only 1 free activity per person. Entor the total on My Spending and Savings Plan. hea iS the zee cons D » Noa oS Activity _\ whet, —_ tivity ( orn oo at NOD Activity ae Activity + Activity + Activity + Activity a Need help? Total entertainment ey $ visit Fun stuf oid euboect wn yous balance remelting. My Furniture & Decorations Visit Home Stuff. Select the furniture and decorative items you want for your home. (Sorry, no sleeping on the floor!) Enter the total on My Spending & Savings Plan. Fumiture $ Gee Decorative home items He Need heip> Household needs i Visit Home stuft Total furniture & decorations expenses $_\. Enter this amount in your Debit Co! ‘and subtract to find your balance ©: (©2007-2010 Cnt Union Nana Anion ne PoveJ My Clotni Visit the fashi Determi Enter the ing & Personal care ion consultant the type of personal care eu total on My Sp 3 Plan, $. Jothi will purchase. rg cpen dco yon outa nd or oe oer Sane Aaa Cloting forma YH Cltting for epoca y5 Personal care for me WH Personal care for spouse +B US slo Enter this amount in Total clothing & personal care expenses your Debit Card Register and subtract to find your balance Femaining. Wants 2 Extras Visit Mad Cit Enter this amount in your Debit Card Register and subtract to find your balance remaining, Need p, Vis, bP me MY closes Page 4 of 7sade sk4 of food you wil eat for each week You do not need to eat the same foods all month, inclu how i" inking cof "Enter the to i foci fee and eating out. Ent tal on My Spending & SecjhM,UCh you will epond oornan Week 1 food ¢ te> Week 2 food +\DO Week 3 food +\OO Week 4 food +t Eat out fastfood (_D. times per month@ ZO per time) wg Eat out fine dining (times per month@ ___per time) +, ix Cotee for me Need help? Cotte for spouse +1 isit Gotta Eat! food & dining Visi Total food expenses $i Entor this amount in your Debit Gard Register and subtract to find your balance, remaining. Clothing $ Diapers +_& Neca help? Fomais $5100 “St Kid care Child care B50 Provonts, books, toys Wi-2C) Total child expenses ¢ |, Enter this @mount in your Debit Card jister and subtract to find your bz eee 79010 i tA Poge 5 of 7Saving & Contributions L Determine the Determine what you are saving for and deduct the amount you will save for ee oe for savings srajtable contributions you want to make. Viet the Credit Union to deposit yout and/or contributions. Eni ter the total on My Spending & Savings Plan. Wm saving for Deposited in savings each month $. ee r 'm saving for Deposited in savings each month +. —____ 'm saving for Deposited in savings each month +. ——____ Need help? Visit the Credit Union Total allocated to savings and contributions § Enter this amount in your Debit Card Register ‘and subtract to find your balance remaining. My Dent Owe nothing on your credit carde? Great! Skip this section, f ‘you owe, read on! Enter the total amount you owe on ‘ou must pay more than the minimum amount Ghted each month. If you can atford it, pay off the tire amount. Visit the Credit Union and write « ‘check for your debt payment. Enter the total on Myr ‘Spending & Savings Plan. your credit card. ¥¢ Total amount owe: *d times 4% = minimum oredit card payment Ceci card debt X.04 = minimum credit card paren x .04=$ BD, a4 My minimum payment ie OD RY . 2s ‘isit Extra payment over minimum + £229.00 it the Total credit card payment $ 2X 2.0L) Enter thie amount in your Debit Card Register ‘and subtract to find your balance remaining. Page 6 of 7. ickle Fi oes le Finger of Fate f : Pending Plan une “Emorgensare UnesPected bill you receive. Enter the total on Uoapetd pean F000 Unexpected expenses + Total unexpected expenses $F2.00 your Debit Card Register __ and subtract to find your balance remaining. Great An unexpected winatal eae ePPens, Sometimes you get unexpected income. In Mad City, recenent accounts. Visit the Credit Union to open yeur reticney Seaved from the Fickle Finger of Fate. Enter the total under Spending Plan, all windfalls are deposited in account with the check you “Retirement Account" on My Savings & Windfall income $, Windfall income + Total windfall income $. Enter this amount in your Debit Card Register and subtract to find your balance remaining, DID YOU VISIT ALL THE MERCHANTS? If yes, great. Now you can complete My Savings & Spending Plan. Make sure you have $100 or less in your checking account. If no, time to get a move on. You have stores to shop and items to buy for your family. ees _