Tag Archives: BrandsmaAdulting

Jade’s Future Lifestyle on $49,000.00/year

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PART 1: Budget

  1. Career

What is the career given to you? Waitstaff

What is your estimated salary/income? $49k

  1. Deductions

Net Income   =   Gross income $49k x   0.3

My annual Net income is: $34,300

My monthly Net income is annual income / 12 = $2,858.33

  1. Housing
  2. What city would you like to live in? Downtown New Westminster
  3. How many roommates will you have? 2 roommates
  4. I plan to RENT or BUY (highlight one)
  5. My monthly rent or mortgage payment is $966.67
  6. How much is your home insurance? $29.34/month

 

  1. Utilities (Electricity, heating, hot water)
  2. Living alone: $50/month
  3. Living with 1 roommate: $35/month per person
  4. Living with 2 roommates: $30/month per person

 

  1. Telecommunications
Service Cost
Cell Phone and plan $20.00/per person
Internet $45/month
Netflix $13.99/month

 

Total :  $78.99

  1. Food
    1. Complete Meal Planner
    2. Meal cost $46.09 /month

 

  1. Transportation

How will you get around?

  1. Public transit – $13/month
  2. Bike
  3. Car
    1. Use Car Purchase Assignment for this info
    2. Total car payment – $239,990.00
  • Total monthly car insurance – $1800/month
  1. Total monthly gas estimate – $200/month

 

  1. Health Care:
  2. What will your monthly rate be? $37.50/month

 

  1. Recreation
 

What will you do for fun?

How many times per month will you do this activity? How much does it cost per time you do this?  

 

TOTAL COST per month

movies 1-2 $13.99 $28.00
TOTAL COST of all activities for the month:

$28.00

 

  1. Savings

Something I want to save up for is Anything.

  • This costs 142.91
  • I want to buy it in whenever I feel the desire to buy something.
  • How much would you need to put into Savings each month to reach this goal? All of my extra cash.

 

  1. Emergencies
  2. How much per month will you put into savings towards your goals (5% of your net income is recommended) –$142.91/month
  3. How much per month will you put into an emergency fund (5% of your net income is recommended; this is for when unexpected costs pop up in your life) – $42.91/month

 

  1. Other

Where else will your money go? Charity, travel, furniture, renovations etc.

-Travel

I’m not going to make a special section for this, it would just be one of those things that if I had extra money for in that moment, I would use it.

LIVING EXPENSES $ per month $ per year
Housing
Rent/mortgage payments  $                     966.67  $               11,600.04
Home Insurance  $                       29.34  $                    352.08
Utilities  $                       30.00  $                    360.00
Telecommunications  $                       78.99  $                    947.88
Food
Meal Costs  $                       46.90  $                    562.80
Transportation
Public transit  $                       13.00  $                    156.00
Bike  $                             –  $                            –
Car payments  $                             –  $                            –
Car insurance  $                             –  $                            –
Gas estimate  $                             –  $                            –
Maintenance and repairs (2% of value of car)  $                             –  $                            –
Health Care
Prescriptions/glasses/contacts
Monthly rate  $                       37.50  $                    156.00
Recreation
Total recreation costs  $                       28.00  $                    336.00
Savings
Savings  $                     142.91  $                 1,714.92
Emergencies  $                       42.91  $                    514.92
Miscellaneous
Computer  $                    200.00
Personal grooming (haircuts, makeup, shampoo, soap, deodorant, etc.)  $                       75.00  $                    900.00
Clothing  $                     200.00  $                 2,400.00
Other
Charity  $                             –  $                            –
etc
 $               20,200.64
Total Expences  $                 1,691.22  $               20,200.64
NET INCOME  $                 4,000.00  $               48,000.00
Monthly Yearly
TOTAL EXPENSES $1,691.22 $20,200.64
TOTAL INCOME $4,000.00 $48,000.00
DIFFERENCE: $2,308.78 $27,799.36