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Monthly Plan

This document provides a monthly budget report sheet that outlines a student's net income and expenditures. The student's monthly net income after taxes is $4,283.28. The largest expenditures are $1,826 for rent, $438 for vehicle costs, and $350 in savings deposits. When total monthly expenditures of $3,879.41 are subtracted from the net monthly income of $4,283.28, there is a small monthly surplus of $403.87.

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85 views2 pages

Monthly Plan

This document provides a monthly budget report sheet that outlines a student's net income and expenditures. The student's monthly net income after taxes is $4,283.28. The largest expenditures are $1,826 for rent, $438 for vehicle costs, and $350 in savings deposits. When total monthly expenditures of $3,879.41 are subtracted from the net monthly income of $4,283.28, there is a small monthly surplus of $403.87.

Uploaded by

api-375358362
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Senior Economics/Budget Project-Impact Academy Student Handout

Monthly Budget Report Sheet


1. Computing Monthly Net Income

Gross Income......................................................................... $___$6,341.76_


FICA Amount................................................................... $___$393.14
Medicare Tax.................................................................... $___$88.74____
Federal Tax....................................................................... $___$824.33___
State Tax........................................................................... $___$253.64___
Health Insurance... $___$247.00_
Life Insurance... $ $27.53__
Retirement Account.. $___$224.1__

Net Income............................................................................ $___$4,283.28_

2. Monthly Expenditures

Rent....... $__ $1,826.00____


Vehicle Cost Per Month....... $__ $438.00_____
Monthly Vehicle Insurance Payment... $___$225.00____
Monthly Renters Insurance Cost...................................... $__ $19.86____
Monthly Payment on Student Loan(s) $___$277.55___
Monthly Phone/Cell Phone Cost...................................... $___$85.00____
Utilities Monthly Cost (total from below)........................ $___$278.00___
Cable.................................................$_ $46.00___
Electric/Gas......................................$__$130.00__
Water................................................$__$60.00___
Trash.................................................$__$42.00___
Other.$__$0____
Monthly food/clothing costs............................................. $____$230.00____
(minimum $160 for food + clothing)
Entertainment Costs......................................................... $____$50.00_____
Monthly Gasoline/Maintenance Costs............................. $____$100.00____
Savings Deposits.............................................................. $____$350.00____
Contributions/Monthly Donations................................... $____$0______
Total Monthly Expenditures............................................ $__$3,879.41_____
Monthly Net (bring home) Income................................... $__$403.87______

Monthly Surplus or Deficit......................................+ or - $______________

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