My Future As I Know It

Jennifer Smith

8th Grade End of the Year Budgeting Project

About me

• Describe yourself…your hobbies etc

• Explain the purpose of this project

• Include a picture of you

Where I see myself

18…

22…

30…

65…

My Future Careerhttp://primepay.com/resources/calculators

• Occupation:

• Gross Yearly Income (before tax): Look up average salary for your job and

state

• Gross Monthly Income (before tax): Divide yearly income by 12

• Net Income (after tax):

• Rent/Mortgage Range (20-30% of gross monthly): $1300-15000

My Monthly Budget •Electric Bill: $52 Gas Bill: $ 30 Water Bill: $ 55

•Rent/Mortgage: Cell : Gas: $200

• Auto Ins : $60 Health Ins: $92 Food: $250 Spending money: Charity: Car Payment:

• Savings: (about 10% of take home pay)

• Total Budget: ____________

• (All bills should add up to take home pay)

What do you think about the budget you just created?

My Future Apartment

• City, State:

• Rent Amount:

• Picture of apartment

My Future House *Do internet search for “how much house can I afford to find a price range for your property

• City, State:

• Purchase Price

• Down Payment: 4% _____________

• 10%_____________

• 20%_____________

• Monthly Payment:_______________________

How do I pay on Saving Money For a Down payment for a house?

RetirementSearch Dave Ramsey Investment Calculator

• How much money will you budget for retirement…

• At what age will you start saving?

• How much money will you have at retirement…. (assume 10% interest rate on a mutual fund)

• How does age started affect retirement amount.

Marriage

• What things (financially) should you look for in a spouse?

What are some additional ways to save and make money so that you have more money in your budget?

What have you learned?