Budget Sheet

YOUR SALARY

The amount of money you earn depends on your highest level of education. Further, the amount of income tax you pay depends on your salary—the more you make, the higher the tax. The following table shows the average monthly salary of a person with a high school versus college education.

Highest Level of Education
You Plan to Complete
Salary
Income Tax Monthly Pay
(after taxes)
                      

YOUR EXPENSES

The following are the expenses that you will incur when living on your own. With the help of a partner, estimate the monthly cost for each of these items.

Education:
Student Loans


$_______________
Transportation:
Car Payment

Car Insurance

Bus Fare

Gas and Oil

Parking and Tolls

Repairs

Health insurance


$_______________

_______________

_______________

_______________

_______________

_______________

_______________
Necessities:
Housing/Rent

Utilities

Groceries


$_______________

_______________

_______________

Miscellaneous:
Clothing

Entertainment

Household Items

Personal Items

Medical Expenses

Savings

Other

$_______________

_______________

_______________

_______________

_______________

_______________

_______________
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