BUDGETexpenses

Purchased Housing Choices

Mortgage Payment

+ Property Tax = Total Payment

House ASingle story; 25 years old; 1000 sq ft; eat-in kitchen; living room; 3 bedrooms;

1-1/2 baths; small lot

Price: $90,0005% down: $4,500

$580 $150 $730***

House BTwo-story; 50 years old; 1600 sq ft; kitchen and dining room; living room; 3 bedrooms; 2 baths; 1 acre lot

Price: $150,0005% down: $7,500

$933 $250 $1,183***

House CTwo-story; 3 years old; 2400 sq ft; kitchen/dining room; living room; 4 bedrooms; 2 baths; large lot; family room; storage building

Price: $200,0005% down: $10,000

$1,328 $300 $1,628***

Apartments

Rented unfurnished apartment—1 bedroom Newly refurbished, 1st floorDowntown, Full basement1 bath, all utilities paid$800/month

Rented unfurnished apartment—2 bedroom 1 bath, 1 car garage, washer/dryer hook-upnew appliances$1085/month plus utilities

Rented unfurnished apartment3 bedrooms1-1/2 bath, garagefenced in yard$1350/month plus utilities

Utilities

utilities include the following: electric, gas, sewer, water, and trash pick-up

Rates Adult only: $290/month Adult & children : $345/month

Renter: $170/month

New vehicle

Type of vehicle

Price Monthly payment

Gas cost Minimum maint.

Total monthly cost

Small car $17,910 $347 $130 $17 $494

Family sedan

$22,995 $445 $179 $17 $641

Mid size SUV

$32,394 $631 $221 $17 $869

Small pick up

$29,210 $568 $221 $17 $806

Used vehicles

Type of vehicle

Price Monthly payment

Gas cost Minimum maint.

Total monthly cost

Small car $2,991 $78 $130 $17 $225

Family sedan

$2,300 $56 $179 $17 $252

Mid size SUV

$8,000 $233 $221 $17 $471

Small pick up

$29,210 $140 $221 $17 $378

Public Transportation

Buy a bus or train monthly pass- go to website for prices

Insurance Rates

compact car- $110/month mid-size car- $100/month small truck- $100/month sport utility vehicle- $145/month

Or use www.allstate.com (enter zip code in the upper right hand corner, hit start, use the green box to the left to get a ballpark estimate without giving any personal info)

Home owner’s Insurance

House value- $90,000 $40/month House value- $150,000 $56/month House value- $200,000 $68/month

Renter’s Insurance

$30,000 contents value- $20/month $60,000 contents value- $30/month

Life Insurance (optional)

$50,000 Term Life $15/month

FoodAge group Thrifty

planLow cost plan

Moderate plan

Liberal plan

Family of 1 adult

$321.00 $407.00 $502.00 $629.00

For each child you have, add the figures below to the above amount

Child 0-5 yrs $85.00 $105.00 $130.00 $156.00

*Approximate costs for 1month of groceries

*The differences among the plans have to do with levels of variety of diet, number of dishes within meals, the kid and quantity of meat served and the number and variety of ready-made dishes.

Entertainment

Movie (includes popcorn and drink) $18/person Eating out $20/person Order pizza (delivered) $20/pizza Video or DVD rental $5/video Video or DVD from library FREE Netflix (unlimited) $18/month Concert $55/person Amusement park $42/person Walk in the park FREE Hobbies $30/month Party (food, beverages, decorations) $75/party Mini-vacation (3 day/2 night) $500/vacation

Contributions

• United Way—½% (.005) of your gross monthly salary.

• Faith community donation—national average is between 3% and 5% of gross monthly salary. Some may believe a 10% tithe is important

Communications

Please provide the cable company and package you have (if any) along with the price per month)

Also include your phone plan (include number of minutes and monthly costs)

Clothing

Annual gross income wages

Parent ChildrenAges 0-8 (each)

Less than $44,500

$70 $30

$44,501-$74,900

$130 $35

More than $74,901

$205 $45

Child Care

Infant $617/month (0-3 years old)

Pre-school $502/month (3-5 years old)

School age $471/month (>5 years old)

For each additional child- add $50

Credit Cards

Annual income

Credit card balance

4% minimum payment

Time to pay off Cost of interest

Total paid

$10,000-$20,000

$750 $30 6 yrs, 3 months $366 $1,116

$20,001-$30,000

$1,250 $50 8 years $667 $1,917

$30,001-$40,000

$1,750 $70 9 yrs, 1 month $966 $2,717

$40,001-$50,000

$2,250 $90 9 yrs, 11 months $1,266 $3,516

$50,001-$60,000

$2,750 $110 10 yrs, 7 months $1,566 $4,316

Over $60,000 $3,500 $140 11 yrs, 4 months $2,016 $5,516

Miscellaneous

Please feel free to add any other expenses that

you will encounter in your lifestyle…but make

sure it fits into your budget!!!!