BUDGET REQUIREMENTS

You will add your own amounts in Column B. You will not change anything in Column C.

Income

Type your name and job in A2. In B2, put how much you make MONTHLY.

If your married, do the same thing in cell A3 and B3 for your spouse.

Federal Tax Withheld (cell B4) – check the tables for your amount.

Housing

Mortgage/Rent (Cell B9) – Monthly mortgage payment from the Yahoo mortgage calculator.

Taxes (cell B10) see Tax Form

Insurance (cell B11) see Homeowners Insurance form

Electricity/Gas – (cell B12) $20 per person plus $10 per bedroom;

if income (married, divorced or widowed) is less than $35,000, monthly amount is $80.

Water/Sewage (Cell B13) -- $30

Garbage (Cell B14) -- $12

Telephone (cell B15 and cell B16) (choose 1, 2, or all 3)

SPECIAL NOTE: If you have a teenager, you must have at least 2 phones, unless your income is less than $35,000. This can be a land phone and cell phone or 2 land phones.

Ø 1 land line phone (basic only) = $35/month (includes taxes and fees)

Ø 1 land line phone (with additional features like caller id) = $40/month (inc. taxes and fees)

Ø Cell phone (optional) = $59.99/month (includes taxes).

Ø After the 1^st cell purchase, additional cell phones are $20 each.

Internet service (cell B17) (choose 1)

Ø Dial up services - $12.95

Ø Basic DSL (slowest speed) - $19.95

Ø Highest speed (DSL) Internet service - $34.95

Additional TV Services (cell B18) (choose either Basic Cable or Direct TV/Dish if you want anything more than Local service with channel 4, 6, 12)

Ø Basic Cable TV - $25

Add $12 for movie channels

Ø Direct TV or Dish (choose one below)

Family channels - $19.95 (40 channels)

America’s Top 100 - $29.95 (100 channels)

America’s Top 100 Plus $34.99 (100 channels plus local and regional sports)

America’s Top 200 $42.95 (200 channels)

America’s Top 250 $52.99 (250 channels)

Transportation

Car Payment #1– (cell B22) Must include interest. See worksheet.

Car Payment #2– (cell B23) Must include interest. See worksheet.

Gas/Maintenance -- (cell B24) $125 per vehicle

Car Insurance --(cell B25) $140 per vehicle

Personal

Food (cell B29)

Ø If married, divorced or widowed and your income is under $35,000 income - $100 per month is the maximum.

Ø If you are single, your food allowance must be at least $80.

Ø For all others, if your income is $35,000 or more, $45 per person.

Clothing (cell B30)

Ø If married, divorced or widowed and your income is under $35,000 income - $35 per person or $100 maximum.

Ø If you are single, your clothing allowance must be at least $60.

Ø For all others, if your income is $35,000 or more, $45 per person.

Ø ADD AN EXTRA $10 IN FOR EACH TEENAGER IN YOUR FAMILY

Health Insurance (cell B31) (must have for you, optional for other)

Ø $75 if your married, widowed, divorced and your income is less than $35,000 + $15 for each additional person

Ø $125 plus $25 for each additional person for all others.

Life Insurance (cell B32) (optional) -- $30 per adult (may purchase for only 1 person)

Entertainment (cell B33) (this includes going out to eat on special occasions, going to the movies, renting movies, playing video games at the mall or elsewhere, bowling, skating, etc.)

Ø $25 per person except for teenagers.

Ø Teenager $32 each.

Ø If your income is under $35,000, $15 per person and add an extra $5 for each teenager

Miscellaneous (cell B34)-- (extra money for any expenses you don’t plan for such as a playoff T-shirt, field trip money, buying fundraiser items, repairing your skateboard, buying makeup, etc.)

Ø $15 per person minimum

Ø Add an additional $7 for each additional teenager.

Ø If your income is under $35,000, $12 per person and add an extra $5 for each teenager

Giving to church -- (cell B35) (optional).

If you plan to give money on Sundays, put the amount you will give here.

If you tithe, put 10% of your monthly income in (monthly amount from cell B2 x .10)

Savings – (cell B36) if you have any money left, you should put it in your Savings. You never know when you may need it!

Look at your Total income (B40) and Total Expenditures (B41). If your Total Income is more than your Total Expenditures, then you must spend some more money. If your Total Expenditures is more than your Total Income, then you must spend less money. You may have to save less or spend less on a car.