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    Budgeting Project

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    api-311074931
    Makala Cavin outlines a personal budget that includes details on net income from work, rent costs, insurance costs, utility costs, food costs, transportation costs, savings, and unexpected expenses. Key details include a net annual income of $20,135.96, rent of $300 per month, car insurance of $212 per month, electric bill estimated at $60.94 per month, and $360.75 per month going into savings. An unexpected expense of $2,500 for vehicle repairs could be paid by cutting back on non-essential spending and using savings.

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    Budgeting Project

    Uploaded by

    api-311074931
    121 views17 pages
    Makala Cavin outlines a personal budget that includes details on net income from work, rent costs, insurance costs, utility costs, food costs, transportation costs, savings, and unexpected expenses. Key details include a net annual income of $20,135.96, rent of $300 per month, car insurance of $212 per month, electric bill estimated at $60.94 per month, and $360.75 per month going into savings. An unexpected expense of $2,500 for vehicle repairs could be paid by cutting back on non-essential spending and using savings.

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    budgeting project

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    Makala Cavin outlines a personal budget that includes details on net income from work, rent costs, insurance costs, utility costs, food costs, transportation costs, savings, and unexpected expenses. Key details include a net annual income of $20,135.96, rent of $300 per month, car insurance of $212 per month, electric bill estimated at $60.94 per month, and $360.75 per month going into savings. An unexpected expense of $2,500 for vehicle repairs could be paid by cutting back on non-essential spending and using savings.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    121 views17 pages

    Budgeting Project

    Uploaded by

    api-311074931
    Makala Cavin outlines a personal budget that includes details on net income from work, rent costs, insurance costs, utility costs, food costs, transportation costs, savings, and unexpected expenses. Key details include a net annual income of $20,135.96, rent of $300 per month, car insurance of $212 per month, electric bill estimated at $60.94 per month, and $360.75 per month going into savings. An unexpected expense of $2,500 for vehicle repairs could be paid by cutting back on non-essential spending and using savings.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 17

    Personal Budget

    Makala Cavin

    Info from Career Project:


    How often are you paid?: BiWeekly
    Net Paycheck: $2,163.46-$1,389= $774.46
    Annual Net Pay: $774.46*26= $20,135.96
    Monthly Net Pay: $774.46*2= $1,548.92
    https://docs.google.com/document/d/1CTjkPBPnyCch7VMgGpRZRfqBtSEf0KEw
    _vqfv9gs74c/edit#heading=h.tyzd47q1zkb3

    Schooling
    Total Cost of Education: $5,000 up front
    Education Payment: http://www.mortgagecalculator.org/calcs/truck.php
    I pay: $75.80 per month for 60 months.
    Certification License: 6 month training program
    Where is this Training?: NETTS driving school in South Windsor, CT 06074
    http://www.dmv.org/ct-connecticut/cdl-faqs.php

    Where will I live?


    Rent or Own?: Rent
    Where?: 383 South Rd. Stafford, CT 06076 ( 2 Beds, 1 Bath)
    http://hotpads.com/rentals/383-South-Road-Stafford-CT-06076--3cwjc9j5vzea1#limit=4&lat=41.963910385966&lon=-72.23782986402
    5&zoom=20&previewId=3cwjc9j5vzea1&previewType=listing&detailsOpen=true&show_listing_sidebar=0&listingTypes=rental,sublet,r
    oom,corporate&propertyTypes=house,divided,condo,townhouse,medium,large,garden,&dupeGrouping=building&photoGallery=7

    How many people live with you?: (2) Boyfriend/Roommate~ Pay rent ($300)
    Monthly Payment: $600/2= $300 per month

    Renters Insurance
    Insurance Provider: Allstate
    Details: Provides car, home, and life insurance.
    Monthly Cost: $20 per month ($40/2= $20)
    *Id split the total Renters insurance ($40) with my roommate*
    *Landlord insures the MOST of the propertys bill*

    https://purchase.allstate.com/Auto/PersonalQuote.aspx?ZipCode=06279&Sta
    teCode=CT&Product=Re&intcid=%2fhome%2fhome.aspx%7cquote_box%7cRe&Trans
    D=aff82a8a-d5ed-4eee-a542-0ff6feb4daf2

    Transportation
    Type of Vehicle: 2003 Jeep Grand Cherokee (Gold)
    Im planning to finance the $3,000 used Cherokee for 2 years (24 months) with
    a down payment of $500 that I already possessed and have an interest rate of
    5%.
    $109.67 per month
    http://www.cars.com/go/advice/financing/calc/loanCalc.jsp?vpLoan=0&tvLoa
    n=0&stLoan=0&microsite=false&mode=full

    Car Insurance
    Car Insurance Provider:
    Amount on Policy: 1
    Amount of Cars: 1
    Monthly Cost: $212
    *I save $1,030 in 6 months in comparison to 3 applied discounts.*

    https://purchase.allstate.com/Auto/PersonalQuote.aspx?ZipCode=06238&
    StateCode=CT&Product=Au&intcid=%2fhome%2fhome.aspx%7cquote_box%7cAu&
    TransID=377eedc5-11e4-4b8a-a655-fd18a7e96b0f

    Cable/Internet/Phone
    Service Provider: Xfinity
    Service Expectations: Cable/Internet/Phone bundle
    Monthly Cost: $49.50 per month ( for 12 months ) ($99/2= $49.50)
    *I chose the $99 Starter Pack that includes: 140+ channels, 75 mbps, most
    reliable in home WiFi, reliable home phone services, access to millions of
    hotspots nationwide, international phone calls, top 100 shows preloaded and
    ready to watch.*
    http://www.xfinity.com/corporate/shop/productoverview.html

    Cell Phone
    Cell Service Provider: Virgin Mobile
    Photo/Data plan: 1GB High-Speed, Unlimited Data, Talk & Text
    Amt. of people: 1
    Monthly Cost: $35 paid per month
    http://www.virginmobileusa.com/cell-phone-plans/data-messaging-plans/overview/

    Food (Week)

    Maxwell House French Roast Medium Dark Ground Coffee~ $6.93


    Lucky Charms Cereal and Gallon of Milk~ $4.48+ $3.50 = $7.98
    Ocean Spray Cran-Apple and Cran-Raspberry~ $2.00*2= $4.00
    Pop Weaver Extra Butter Microwave Popcorn, 8 pk~ $2.00
    Angel Soft toilet paper (4 rolls)~ $2.00
    Glad Tall Kitchen Drawstring Trash Bags, 13 Gallon, 90 Count~ $14.98
    Windex Glass & Multi-Surface Cleaner Spray, and Bounty paper towels(2 rolls)~ $6.03+ $6.97= $13.00
    Colgate baking soda and peroxide toothpaste and Toothbrush~ $3.68+ $.99= $4.67
    Pedigree Puppy Complete Dog food and Beefy country stew choice cuts ~ $19.98+ $9.88
    Total: $85.42
    www.walmart.com (unaminous)

    Food (Continued)
    Dining Out
    I would dine out at least two times a week with my friends or family. On
    average, Id end up spending around $25.00 on dining out each week. (Amt.
    only paying for myself)
    $85.42+ $25.00= $110.42 I would invest each week into food

    Utilities (electric, heat, water)


    *Heat and Water included in Rental Contract*
    Electricity: Avg. person uses 742 KwH per month
    per KwH= 8.15 cents

    (Most Popular) EST. Cost: $60.94 per month


    https://www.chooseenergy.com/shop/residential/electricity/CT/06238/connecticu
    t-light-power-ct-electricity/

    Other Expenses....
    New Boxer Puppy:
    Orange Chevron Print dog collar and Lil pals nylon leash and brass id tag: $11.99+$9.99+
    $9.99=$31.97
    Anima Ultra Plush Green Dog Bed: $49.99
    Advantage II Topical Flea Repellent for Puppies: $57.99
    Total: $139.95
    http://www.petco.com/shop/en/petcostore/dog

    Other Expenses (Continued)


    Clothes:
    D. Jeans High Wasted: $16.99

    http://tjmaxx.tjx.com/store/jump/product/women-clothing-pants-jeans/High-Waist-Skinny-Jean/1000093461?colorId=NS1003468&po
    s=1:40&N=743767204

    Floral Open Shoulder Top: $17.90

    http://www.forever21.com/Product/Product.aspx?BR=f21&Category=top_blouses&ProductID=2000182306&VariantID

    Fergilicious Womens Rodeo Boot: $40.00


    http://www.famousfootwear.com/en-US/Product/50971-1034405/FERGALICIOUS/Taupe/Womens+Rodeo+Boot.aspx

    Total: $74.89

    Savings
    Monthly Pay-Expenses: $1,548.92- $1,188.17= $360.75 is put into savings
    The major purchase I would love to invest in is a 2008 Kawasaki kfx450r for
    $2,700. ( http://newlondon.craigslist.org/snw/5360374982.html )
    Calc: $2700/ $360.75= 7 weeks
    It will take me 7 weeks to get the Quad

    Life Happens...
    In order to pay off the $2,500; I can cut back on the Miscellaneous expenses
    such as spoiling the new puppy and new clothes. My bills are required to be
    paid in order to keep what I have. Also, if I dont use a lot of electricity, my bill
    will be significantly lower, I don't necessarily have to use the average KwH
    rate. Lastly, a significant amount can be paid off through my savings account.
    Instead of saving up for an ATV, I would need to focus on the unfortunate
    event so I dont fall behind on anything else.

    Reflection
    I enjoyed the fact that I got to pick out my own policies, services, and basically
    design my life in the reality that I would make it. Continue using this project
    for the future because its very essential in controlling where and what our
    money goes into; not only that but it will help someone maintain a good credit
    score that determines a lot of paths in a persons life. The only thing that I
    think needs improvement is the instruction of the project, I was confused a
    variety of times. I found this meaningful because it relates to an exact replica
    of how my life would pan out and it enhanced my ability to search for
    appropriate and affordable quotes, plans, and deals. Overall, this project may
    have been time consuming, but I enjoyed it.

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