Instructions:

1) Enter the Annual Gross Income by taking the starting salary that you
researched for your first job out of college.
2) Enter the Annual Taxes that you calculated from the last activity. Your Net
Income (the money that you actually have to take home)
3) Enter your monthly student loan expenses (from the "Calculating Loans")
activity. Note: This assignment is in your Google Docs. Please print it out and
submit it along with this spreadsheet.
4) Enter your estimated expenses by considering your desired lifestyle after
college and researching the cost of housing, transportation, food, entertainment,
etc. You might want to interview your parents or other adults to figure out these
amounts. Remember that your balance (in yellow) must equal to "0". If it is
negative, you need to reduce your expenses yet still keep it realistic. If it is
positive, you can use the extra money towards investments and/or charitable
donations.
5) Print a copy of this spreadsheet. Please make sure that you highlight only the
section that has data in it and print only the selected area.. Otherwise, your print
out might not be legible.
6) Staple your Monthly Budget (this spreadsheet), your "Calculating Loans" and
"Calculating Taxes" activities.

Income
Gross Annual
Income

Amount

Taxes

Amount

Federal

State
FICA

Total Annual Taxes

Net Annual Income
Net Monthly
Income
Balance (Income
minus Expenses)

Monthly Expenses
(Continued)
Actual Cost

Monthly Expenses Actual Cost

46486

Housing

658.75

Transportation

Mortgage or rent

4.16

Vehicle 1 payment

Phone

110

Bus/taxi fare

3500

Gas/Electricity

311

Insurance

3825

Water/sewer

100

Licensing

Cable
Maintenance or
repairs
Supplies

125

Fuel

50

96
270

Maintenance
Other
Monthly Expenses
(Continued)
Transportation

50

6768.75

14093.75
32392.25
2699.354167

Monthly Expenses Actual Cost

Housing

2101.354167
Insurance
Home
Health
Life
Other
Subtotals

Entertainment
Video/DVD/Music
Movies
Concerts
Sporting events
Live theater
Other
Subtotals

Loans
Student
(Subsidized)
Student
(Unsubsidized)
Student (Private)
Credit card
Other
Subtotals
Savings or
Investments
Retirement account
Investment account
College
Other
Subtotals
Gifts and Donations
Charity 1
Charity 2
Subtotals

0
*Copy monthly loan
payments from
"Calculating Loans"
activity

Food
Groceries
Dining out
Other

221

221

Subtotals
Children
Medical
Clothing
School tuition
School supplies
Organization dues
or fees
Lunch money
Child care
Toys/games
Other
Subtotals
Pets
Food
Medical
Grooming
Toys
Other
Subtotals
Personal Care
Medical
Hair/nails

327

327

Clothing
Dry cleaning
Health club
Organization dues
or fees
Other
Subtotals