Gov/Econ- Vinson

Unit Five

Rat Race- Monthly Budget Worksheet

Complete this worksheet with as much accuracy as possible, using all of the information you have gathered for
the other worksheets I have given you. Consult the “Taxes & Utilities” handout for specific figures and costs:

Rent (your share):

$1,954
Utilities (water/sewer, garbage/recycling, gas/electric):
$175
Internet:
$19.99
Phone:
$70
Streaming services/subscriptions:
$8.99
Automobile (payments, insurance, gasoline):
$323
Laundry ($3.50 to wash and dry each load):
In-unit
laundry
Weekly shopping (from “Weekly Shopping” worksheet):
$119.59
Total Monthly Expenses (normal month):
$3,029.34
Total Moving-In Costs (from “Moving In & Setting Up” worksheet):
$5,536.08
Total Monthly Expenses (first month[add the two rows above]):
$8,565.42
Now it’s time to make the most significant calculation:

Monthly Income (adjusted for withholding):

$5,967.73
Add “Total Moving-In Costs” (including your share of the security deposit) and
“Total Monthly Expenses” to determine your overall expenses for the first
$8,565.42
month:

Subtract the number in the row above from “Total Monthly Income” to
determine your budget for the first month:
$-2,597.69
Subtract “Total Monthly Expenses” from “Total Monthly Income” to determine
your budget for a normal month:
$2,938.39

This is the number we’ve been working

towards for weeks! Don’t get it wrong,
or you’ll literally pay for it!