1. Mod II Budget Project 1
Math Budget
Project
By: Mhegan Alexander-Lee
Instructor: Bushra Khan
Date: 05/17/2014

2. Mod II Budget Project 2
Step 1:
I divided my annual salary of $30,000 by 12 which equals $2,500 to get my gross monthly income.
Step 2:
I multiply my gross monthly income of $2,500 by the decimal form of FICA rate .0765 which equals $191.25 to get my FICA
deductions. I’mmarried and claim myself therefore my federal withholding is $147. Then I added both my Federal
Withholding and my FICA in order to get my total deductions which is $338.25. I subtract my totaldeductions from my gross
monthly which equals the net pay of $2,161.75.
FICA= Gross Pay * .0765
FICA= $2500 * .0765
FICA= $191.25
FW= $147
$147 + $191.25 = $338.25
$2500 - $338.25 = $2,161.75
Step 3:
I mutiply each category by my monthly net income to get my estimated budgets.
$2,161.75 x 0.33 (Housing) = $713.38
$2,161.75 x 0.07 (Utilties) = $151.32
$2,161.75 x 0.05 (Transportation) = $108.09
$2,161.75 x 0.15 (Groceries and Essentials) = $324.26
$2,161.75 x 0.05 (Eating Out) = $108.09
$2,161.75 x 0.10 = (Clothing) = $216.18
$2,161.75 x 0.05 = (Phone) = $108.09
$2,161.75 x 0.05=(Entertainment) = $108.09
$2,161.75 x 0.05=(Health Insurance) = $108.09
$2,161.75 x 0.00=(Chartible Contributions)= $0

3. Mod II Budget Project 3
$2,161.75 x 0.10 = (Savings) = $216.18
Step 4:
My partner and I found a two bedroom studio and private outdoor space in Crown Heights, Brooklyn to live in. The price of
rent is $1,375 will be divide between me and my partner. My portion of the rent will be $687.50. Which is $25.88 less then
what my actualbudget for housing. Then I had an estimate budget cost of 7% for utilities, which is $151.32. Due to the fact
that the utilities was not specify when renting out the studio, I had to get an estimate of averagemonthly cost. So according
to ConEdison, I got a new scenario cost for my monthly utilities which is an estimate of $192 a month. I will be paying $38.40
more for utilities in my actual budget then what I predicted in my estimated budget. Every month I’ll be paying my half of the
rent $687.50 and $192 for utilities.

4. Mod II Budget Project 4

5. Mod II Budget Project 5
Step 5:
The type of transportation I will be using is by subway. I purchase a monthly fare for $112. I live on the same train line as my
job on the 2 or 3 train. I had an estimated budget for $108.09 and my actualbudget came out to be $112. Approximately,
$4.09 more towards transportation.
Step 6:
Week 1
Monday morning ................................................. cereal and milk
Monday afternoon...................lemonade juice sandwich and chips
Monday night.............................................................. spaghetti
Tuesday morning………………………………………………cerealandmilk

6. Mod II Budget Project 6
Tuesday afternoon………………………………………..lemonadejuice, tuna and slice bread
Tuesday night…………………………………………………..lemonade juice, white rice, red kidney beans and chicken
Wednesday morning……………………cerealand milk
Wednesday afternoon……………lemonade sandwich and chips
Wednesday night………… leftovers of yesterday night with lemonade
Thursday morning……………..creamof wheat
Thursday afternoon………………tuna sandwich with water
Thursday night………………….chickenand mash potatoes with iced water
Friday morning…………………….creamof wheat and herb tea
Friday afternoon…………………… grilled chicken salad with iced water
Friday night……………….. macand cheese with spinach greens and iced water
Saturday morning……….cerealand milk
Saturday afternoon………..Tuna salad with herb tea
Saturday night…………………. grilledSalmon with mixed veggies with lemonade juice
Sunday morning…………………..creamofwheat with herb tea
Sunday afternoon……………….. chicken Wrap with lemonade juice
Sunday night……………. curry chicken and rice with lemonade juice
Week 2
Monday morning ................................................. cereal and milk
Monday afternoon...................lemonade juice sandwich and chips
Monday night.............................................................. spaghetti
Tuesday morning………………………………………………cerealandmilk
Tuesday afternoon………………………………………..lemonadejuice, tuna and slice bread
Tuesday night…………………………………………………..lemonade juice, white rice, red kidney beans and chicken
Wednesday morning……………………cerealand milk
Wednesday afternoon……………lemonade sandwich and chips
Wednesday night………… leftovers of yesterday night with lemonade
Thursday morning……………..creamof wheat
Thursday afternoon………………tuna sandwich with water

7. Mod II Budget Project 7
Thursday night………………….chickenand mash potatoes with iced water
Friday morning…………………….creamof wheat and herb tea
Friday afternoon…………………… grilled chicken salad with iced water
Friday night……………….. macand cheese with spinach greens and iced water
Saturday morning……….cerealand milk
Saturday afternoon………..Tuna salad with herb tea
Saturday night…………………. grilledSalmon with mixed veggies with lemonade juice
Sunday morning…………………..creamofwheat with herb tea
Sunday afternoon……………….. chicken wrap with lemonade juice
Sunday night……………. curry chicken and rice with lemonade juice
As stated below, the totalof my biweekly grocery and essential bill will be $165.01. If I were to calculate my monthly bill I
would have to multiply it by two. The end result would be $330.02, which would fall around my original estimate of 15%. I will
have to spend $5.76 more on groceries and essentials in my actual budget.
Step 7:

8. Mod II Budget Project 8
The amount I predicted to spend in my estimate budget will be the same calculations for my actual budget of clothing and
eating out categories.
$2,194.75 x 0.05 (Eating Out) = $109.71
$2,194.75 x 0.10 = (Clothing) = $219.43
Step 8:
The phone company’s plan I affinity to have is Boost Mobile Phone Company. As stated below, the total of my monthly phone
bill will be $40 with taxes included in the phone plan. I multiply $2,161.75 x 0.05 = $108.09, to get estimate budget of how
much I will pay a month for my plan. According to my estimate budget, I’mover budget with predicting I would pay $108.09.
The end result, I will be paying only $40, which is only 2% for phone of my actual budget. The additional 3% will be added to
actual budget for the charitable contributions category. I will have to pay $68.09 less.

9. Mod II Budget Project 9
Step 9:
 After taking part in a few activities and going out with friends for within that month, I would spend my estimated
budget which becomes my actualbudget spend. I predicted I will spend 5% of my monthly net income. My monthly
net income $2,161.75 x decimal form of entertainment 0.05 equals $108.09.
 I predicted I will spend an estimated budget of 5% on my health insurance. My actualbudget will be 4% of my
monthly net income which equals $87.79. The additional 1% will go towards charitable contributions. I will now pay
$20.30 less.
 I didn’t have an estimated budget for my contributions. After evaluating the rest of my expenses, I realizeI have
additionally about a duration of 4% to contribute towards my charitable contributions. I added 3% from phone and
1% from health insurance which adds up to 4% malleable to go towards charitable contributions. Not to forget to
mention, some categories varies with the calculations to get the actualbudget. So, the total amount contributed to
charitable contributions will result in the remainder of money which is $63.90. My estimated budget predicted I had a
no budget for charitable contributions and at end the actual budget of charitable contributions budget increased.
 I manage to save 10% out of my monthly net income, which is $219.43. My estimate budget is equivalent to my actual
budget.
$2,194.75 x 0.10 = (Savings) = $219.43
Step 10:
I have made a completed my monthly budget made in excel. This help me to identify the difference between my estimated
budget from my actual budget. My monthly budget have been changed around to fit my actual budget and some remained
the same from beginning to end. Some categories I had extra money left over from my estimated budget to distribute towards
other categories that needed funding are charitable contributions, utilities, and transportation. Other categories such as,
entertainment, Clothing, savings, and Eating out was the same in both budgets. As the other categories such as Housing,
phone, and health insurance was over budget and decomposition as mentioned.

10. Mod II Budget Project 10
Step 11:
I made two pie charts for the estimated budget and actualbudget.
33%
7%
5%
15%
5%
10%
5%
5%
5% 0%
10%
Estimated Budget
Housing
Utilities
Transportation
Groceries and Essentials
Eating Out
Clothing
Phone
Entertainment
Health Insurance

11. Mod II Budget Project 11
Step 12: Balance a check register. Using the sample in the link provided below, createa check register on Microsoft Excel.
Then, track your expenses for Week 11, and fill out a check register with at least 5 transactions. Copy and paste this check
register. Explain your calculations (in words and in numbers).
http://www.prosynergy.org/ncuf/Slide%20Presentation/Chap3/images/ch%203%20CheckItOutPresentation_img_10.jpg
I have developed a check register with excel to evacuated a few of my transactions. I had an opening deposit of $1088.88. I
then made my first when I went out with friends to a bowling alley, spent $25.38 which left me with $1,063.50. My next
transaction was a debit chargeof $32.50 from AMC Theater after heading out to the movies which my balance will be $1,031.
My third transactions was from envy nails after getting my nails done for $30 which left me which $1,001 for my balance. I
decided to purchase a few pieces of new clothing which came up to $153.91 which left my balance $877.09. My last
transaction was for the amount of $20 student broadway discounted tickets. My finally total account balance is the amount of
$857.09.
Step 13:
I believe creating my budget was very informative on surviving on a daily basis. I realized federal withholding different when
you’re married and you may claim your partner if not working. After deducting my taxes to get my monthly takehome pay, I
know have to allocate my net pay within all of my budget’s categories. I’ve learned how to find a place to rent on the internet
sites and managemy money for housing and utilities every month. Being careful and verifying before being housed in any type
of place. I choose the choice of commute to be by MTA trains. Due to the fact, I will be now working on a daily to daily
schedule, I believe with a monthly pass I can save more money during my monthly budget. I make enough amount of
groceries/essentials to last me for a month to cook at home. Or those days when I want to go out to eat, hangout, see a
movie, and shopping, I will have a budget for that specifically also. I even got my phone bill covered with a new plan with
Boost mobile company. I also learned how to be covered with health insurance. I feel I have all the essentials tools to manage
my money and my spending habits.
32%
9%
5%
15%
5%
10%
2%
5%
4%
3%
10%
Actual Budget
Housing
Utilities
Transportation
Groceries and Essentials
Eating Out
Clothing
Phone
Entertainment
Health Insurance

12. Mod II Budget Project 12
Module II Budget Project Rubric
Item Points Possible Points Awarded
Cover Page 5
Estimated Budget (Excel) 10
Rent Resource (screenshot) 10
Phone Resource (screenshot) 10
Transportation Resource (screenshot) 10
Groceries (screenshot) and Menu (template) 10
Actual Budget (Excel) 15
Pie chart (chart) 10
Check Register (Excel) 10
Summary Paragraph 10
Total 100