Budget Worksheet

Career Graphic Designer

Total Yearly Expenses $56190  

Difference (net income minus expenses) $6104  

Entertainment Yearly Cost

Video/DVD  $200

Vacation  $500

Other  $100

Subtotals  $800

Other Credit Debt Yearly Cost

Student Loan  $3350

Credit Card  $350

Credit Card  $350

Other  $200

Subtotals  $4250

Utilities Yearly Cost

Phone and/or Cell Phone  $600

Cable and Internet  $1020

Electric and Gas  $19533

Water and Sewer  $700

Waste Removal  $200

Subtotals  $2520

Personal Care Yearly Cost

Health Insurance  $5280

Other Medical Costs  $200

Hair/Nails  $120

Clothing & Laundry  $600

Health Club  $200

Organization Dues or Fees  $0

Other  $350

Subtotals  $6750

Gifts and Donations Yearly Cost

Holidays and Birthdays  $350

Charity Donations  $100

Other  

Subtotals  $450

Yearly Budget: Gross Net: $62294

$86520

Income $58000      

Housing Yearly Cost

Mortgage or rent  $12300

Maintenance or repairs  $760

Supplies  $300

Home Insurance  $1000

Furnishings  $3100

Subtotals  $17460

Transportation Yearly Cost

Vehicle Payment  $8200

Bus/Taxi Fare  

Automobile Insurance  $1500

Licensing  $200

Fuel  $900
Maintenance  $400

Other  $150

Subtotals  $11350

Food Yearly Cost

Groceries  $3100

Dining Out  $900

Subtotals  $4000

Pets Yearly Cost

Food  0

Medical  0

Grooming  0

Toys  0

Other  0

Subtotals  0

Savings or Investments Yearly Cost

Retirement Account  $5900

 Investment Account  $700

Emergency Savings  $1900

Subtotals  $8700

Reflecting on this Activity

1. Why is budgeting important to your life?
1. It allows me to crate a spending plan where I cannot become bankrupt at the end of
everything.
2. Describe your experience with this process. Was it easy, difficult, or somewhere in the
middle? What factors contributed to your feelings?
1. It was somewhere in the middle because I had to figure out what I would do with the
money.
3. 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.
1. Large purchases affect credit scores which makes it difficult to make sufficient
payments on time. I’d use installment credit, where my budget can help me protect
my credit score since I can payoff the money I have left over.
4. What adjustments did you have to make to your budget? How did you decide where to make
changes?
1. I had to adjust the entertainment and food areas because I thought I needed more,
but as I was filling it out, I realized its more of a want than a need.
5. Will you begin using a budget regularly now? Why or why not?
1. Possibly, it gives me an idea of how I can spend money during certain times
throughout a year.