It’s Pay Day

Budget Project Day 4 – 40 Points

 Do you remember
your monthly net
salary from last
week?
If not use the tables
below to calculate it
again
To calculate your
monthly net salary you Example Calculation:
must:
Take your yearly salary and divide Yearly Salary - $17,499
by 12!
Then you must calculate your Monthly Salary - $1458.25
deductions:
Tax Deduction – Single 15% - $218.74
Taxes – based on the table from the
last slide
Medicare Deduction – $21.14
Medicare – 1.45 %
Social Security – 6.25 % Social Security Deduction - $91.14

Total Net Salary - $1,127.22

 Time to Pay Bills!
Choose one from each of the following slides. Remember the goal is to
choose things that fit into your budget and not go over your budget!
 Home Sweet Home
Deduct from take home pay
Virtual House – Mortgage - $1,050.00 Virtual Apartment – Rent – 550.00
Homeowners Insurance - $100.00 Renters Insurance - $25.00
Sweet Ride Page 1 – Deduct from take home pay
Virtual Car Payment – $800.0 Virtual Car Payment – $500.0
Car Insurance - $200.00 Car Insurance - $150.00
Sweet Ride Page 2 – Deduct from take home pay
Virtual Car Payment – $250.00
Car Insurance - $75.00 Virtual Public Transportation– $50.00
 Must Pay… Deduct from take home pay

Virtual Electric Bill – $95.00 Virtual Water Bill - $45.00

 Must Pay… Deduct from take home pay
Groceries – Minimum of $150.00 Trash - $30.00

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CC BY-NC-ND
 Cost of Connection… The Phone Bill
Deduct from take home pay
Landline and Tablet (will also need
Smartphone - $100.00 internet) - $20.00
 What to Watch? – Tv Bill
If you choose Antenna TV - $0.00 - Deduct from take home pay
Wifi Tv (Must also pay for internet) -
Cable - $85.00 ($80.00 + $5.00 for box) $25.00

This Photo by Unknown Author is licensed under CC BY

This Photo by Unknown Author is licensed under CC BY-SA

Online Connections:
Deduct from take home pay
Internet –

Slow Speed - $35.00

Fast Speed - $60.00

This Photo by Unknown Author is licensed under CC BY-SA