Money and yearly Cost Essay

Submitted By Dajia-McClendon
Words: 526
Pages: 3

Career _______Mechanical engineer_________________________________
Yearly budget:90,000$ Gross:90,000 Net:64,800

Entertainment
Yearly Cost
Video/DVD
50
Vacation
0
Other
0
Subtotals
50

Other Credit Debt
Yearly Cost
Student Loan 0$

Credit Card
$ 2000
Credit Card Other Subtotals $2000

Utilities
Yearly Cost
Phone and/or Cell Phone 1200
Cable and Internet 1800
Electric and Gas 1300
Water and Sewer 200
Waste Removal 360
Subtotals
4600

Personal Care
Yearly Cost
Health Insurance 0

Other Medical Costs 0
Hair/Nails
72
Clothing & Laundry 1014
Health Club 800
Organization Dues or Fees 0
Other
760
Subtotals
2646

Gifts and Donations
Yearly Cost
Holidays and Birthdays 1500
Charity Donations 500
Other
0
Subtotals
2000
Yearly Budget

Housing
Yearly Cost
Mortgage or rent 12000$
Maintenance or repairs 200
Supplies
200
Home Insurance 184
Furnishings
8000
Subtotals
20684

Transportation
Yearly Cost
Vehicle Payment 0
Bus/Taxi Fare 40
Automobile Insurance 0
Licensing
0
Fuel
0
Maintenance
0
Other
0
Subtotals
40

Food
Yearly Cost
Groceries
2400
Dining Out 100
Subtotals
2500

Pets
Yearly Cost
Food
0
Medical
0
Grooming
0
Toys
0
Other
0
Subtotals
0

Savings or Investments
Yearly Cost
Retirement Account 10,000
Investment Account 2,000
Emergency Savings 3,000
Subtotals
15,000
1.
Why is budgeting important to your life? Budgeting is very important because you have a set amount about what you have to spend. a lot of people do not budget their money and sometimes over spend so it is good to sit down and figure out what you have enough money for so you will not end up in debt
2. Describe your experience with this process. Was it easy, difficult, or somewhere in the middle? What factors contributed to your feelings? It was very difficult I have never learned about budgeting and I did not think about some of my needs. I only focused…