Name



Name

Block

Budget Worksheet

|Part 1 – Income |

1. What is your chosen occupation? How much education will you need?

2. What is the average annual starting salary?

3. What tax bracket (tax percentage) are you in? How much will you have to pay in taxes?

4. What is your net income? What is your net monthly income?

|Part 2 – Expenses |

*Housing

1. Where is your house/apartment?

2. How big is your house/apartment? Will you have roommates? How many?

3. How much will you pay monthly for your housing?

4. Which web site did you use?

*Car

5. What type of car will you buy? Which web site did you use?

6. How much does it cost?

7. What will your car payment be, if you finance it at 7% for 36 months? 60 months? See the webquest for more info.

|Part 3 – Budget Analysis |

You can fill in the first 3 boxes in this table. See the webquest to determine what you should put in the rest of the table.

Budget

|Monthly Net Income | |

|from Part 1, number 4 | |

|Expenses | |

|Housing | |

|Car | |

|Student Loan | |

|Food | |

|Utilities | |

|Phone | |

|Cable/Internet | |

|Clothing | |

|Entertainment and Recreation | |

|Savings | |

|Miscellaneous | |

|Total Expenses | |

|Difference between | |

|Income and Expenses | |

Now trade papers with a partner. Have them check the calculations (especially for your monthly income!), review your budget, and write recommendations/suggestions to you on how you might adjust your budget. Your “Difference between Income and Expenses” should be as close to zero as possible.

Partners Name

Recommendations/Suggestions: Use additional paper if necessary!

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