02.

04 WHY BUDGET
FULL TIME VETERINARIAN
By Jamea Adderly

……with help from the internet

 EXPENSES, INCOME, AND BUDGET

• Yearly Budget: $80,000

• Total yearly expenses: $56,830
• Difference(net income minus expenses): $23,170
• Gross income: $92,520
• Net income: $23,170
 ENTERTAINMENT
Entertainment Yearly Cost

Video/DVD $5.00

Vacation $900

Other $500

Subtotals $1,405
 GIFTS AND DONATIONS
Gifts and Donations Yearly Cost

Holidays & Birthdays $400

Charity Donations $500

Other $100

Subtotals $1,000
 FOOD
Food Cost Yearly Cost

Groceries $4,500

Dining Out $240

Subtotals $4,740
 SAVINGS OR INVESTMENTS
Savings or Investment Yearly cost

Retirement Account $5,500

Investment Account $500

Emergency savings $1,000

Subtotals $7,000
 CREDIT DEBT
Other Credit Debt Cost Yearly Cost

Student Loans $5,850

Credit Card $850

Other $300

Subtotals $17,850
 PERSONAL CARE
Personal Care Yearly Cost
Health Insurance $900
Other Medical Cost $250
Hair/Nails $150
Clothing and Laundry $280
Organization Dues and fees $230
Other $200
Subtotals $2,010
 PET
Pet Yearly Cost
Food $400
Medical $100
Grooming $0
Toys $30
Other $250
Subtotals $1,050
 UTILITIES
Utilities Cost Yearly Cost
Phone and/or Cell $700
Cable and internet $550
Electric and Gas $2,000
Water and Sewer $500
Water removal $250
Subtotals $40,000
 HOUSING
Housing Yearly Cost
Mortgage or rent $8,455
Maintenance or repairs $350
Supplies $500
Home Insurance $1,000
Furnishings $2,500
Subtotals $12,805
 TRANSPORTATION
Transportation Cost Yearly Cost
Vehicle Payment Own Vehicle
Bus/Tax Fare $50
Automobile Insurance $3,200
License $150
Fuel $1,000
Maintenance $250
Other $145
Subtotals $4,795
 WHY IS BUDGETING IMPORTANT TO YOUR
LIFE?
Budgeting is important because it provides me
with an efficient way to manage my money.
Budgeting allows me to see the amount money
needed for me to manage, and how much
money I shouldn't spend past in order to live
comfortably and debt free.
DESCRIBE YOUR EXPERIENCE WITH THIS PROCESS.
WAS IT EASY, DIFFICULT, OR SOMEWHERE IN THE
MIDDLE? WHAT FACTORS CONTRIBUTED TO
YOUR FEELINGS?
I look forward to budgeting once I start
making my own income. I had way more
than enough to cover my expenses. I don't
dislike math, so that made this project a bit
enjoyable.
 HOW MIGHT THE USE OF CREDIT FOR A LARGE PURCHASE
AFFECT YOUR BUDGET? DISCUSS WHICH TYPE OF CREDIT PLAN
YOU WOULD USE, AND HOW YOUR BUDGET CAN HELP YOU
PROTECT YOUR CREDIT SCORE.

Making a large purchase off credit can be very

risky, depending on how well one budgets their
money. If your having trouble budgeting money
and your net income is lower than your
expenses, buying expensive things can mess up
your credit score because you most likely won't
be able to pay the money back every month.
 WHAT ADJUSTMENTS DID YOU HAVE TO MAKE
TO YOUR BUDGET? HOW DID YOU DECIDE
WHERE TO MAKE CHANGES?

I made a few adjustments to my budget

because I was contemplating on whether I
wanted to have those things if the future, or
not.
 WILL YOU BEGIN USING A BUDGET
REGULARLY NOW? WHY OR WHY NOT?
Even though I am not currently working, I still
budget the money that is occasionally given to
me. With this being said, in the future, I most
likely will use a budget regularly.