2.08 Why Budget

In: Business and Management

Submitted By calfoo333
Words 485
Pages 2
02.06 Budget Worksheet 17,675
Your Chosen Career: Emergency Room Nurse
Yearly Budget|Gross Income|Net Income (after taxes)|
|$65,000|$48,750|

Housing |Yearly Cost|
Mortgage or rent|$9,000|
Maintenance or repairs |$0|
Supplies |$120|
Home Insurance |$0|
Furnishings |$600|
Subtotals|$9,720|

Transportation |Yearly Cost|
Vehicle Payment |$0|
Bus/Taxi Fare |$480|
Automobile Insurance |$0|
Licensing |$0|
Fuel |$0|
Maintenance |$0|
Other |$0|
Subtotals|$480|

Food |Yearly Cost|
Groceries |$1,800|
Dining Out |$200|
Subtotals|$2,000|

Pets |Yearly Cost|
Food |$0|
Medical |$0|
Grooming |$0|
Toys |$0|
Other |$0|
Subtotals|$0|

Savings or Investments |Yearly Cost|
Retirement Account |$2,000|
Investment Account |$1,000|
Emergency Savings |$1,000|
Subtotals|$4,000|

Your Name:
Total Yearly Expenses|$39,030|
Difference (net income minus expenses)|$9,720|

Entertainment |Yearly Cost|
Video/DVD |$0|
Vacation |$0|
Other |$0|
Subtotals|$0|

Other Credit Debt |Yearly Cost|
Student Loan |$20,200|
Credit Card |$300|
Other |$0|
Subtotals|$20,500|

Utilities |Yearly Cost|
Phone and/or Cell Phone|$480|
Cable and Internet |$0|
Electric and Gas |$600|
Water and Sewer |$0|
Waste Removal |$0|
Subtotals|$1080|

Personal Care |Yearly Cost|
Health Insurance |$600|
Other Medical Costs |$100|
Hair/Nails |$50|
Clothing & Laundry |$300|
Health Club |$0|
Organization Dues or Fees |$0|
Other |$0|
Subtotals|$1050|

Gifts and Donations|Yearly Cost|
Holidays and Birthdays |$200|
Charity Donations|$0|
Other|$0|
Subtotals|$200|

Reflecting on this Activity
1. Why is budgeting important to your life?
It allows me to create a spending plan that will make sure I always have enough money for what I need and what I want to buy.
2. Describe your experience with this process. Was…...

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