1. ESTIMATED MONTHLY BUDGET
*Complete assuming you have graduated and are living on your own.
FIXED EXPENSES:
Housing (rent or house pymt) $ 500
Utilities (heat, electric, phone, TV, internet) $ 100
Loans (car, college etc…) $ 350
Insurance (car, medical, rental etc..) $ 170
Credit Card $0
Child Care $0
TOTAL FIXED EXPENSES $ 1120
VARIABLE EXPENSES:
Food $ 150
Household goods (TP, soap, etc…) $ 20
Entertainment (music, eating out, movies…) $ 50
Transportation (gas, maintenance, public transp) $ 150
Personal (clothing, pharmacy, etc..) $ 25
TOTAL VARIABLE EXPENSES $ 395
ADD:
Total fixed 1120 + Total Variable 395 = $1515 monthly expenses
MULTIPLY:
Total monthly expenses 1515 X 12 = 18180 yearly expenses.
DIVIDE:
Yearly expenses 18180 /.75 = 24240 Gross Salary (needed to meet net
yearly expenses)
NOTE: The above budget does not include monies set aside for
savings, retirement, education, or emergencies.