Sectio 2 Monthly Budget for Part Time Job Math Project

Section 2: Monthly Budget

Part Time Job

You will determine your monthly budget for your part time job. Everyone’s budget may look a little different, especially if you live at home. If you plan to live at home, to you know if it will be rent free? Suggested percentages are provided, but you may adjust those to fit your situation. Make sure your percentages are reasonable and that they add to 100%. You have some blank sections provided to account for your own personal flare. We will assume that you will still receive health benefits under your parent’s’ plan.

Your Part-time Job __________________________________________________

Your Monthly Take Home (Net Income) ____________________________________________

Where will you live? _____________________________________________

Category

Suggested Percent

Your Percent

Work Space

Dollars per Month

Rent/Mortgage

25%

Car Payment

6%

Car Insurance/Maintenance

6%

Utilities

5%

Groceries

9%

Insurance (Renter’s/Life)

3%

Savings/Debt/Credit Cards

17%

Entertainment

15%

Cell Phone/Internet

5%

Long-term Career

Now you will determine your monthly budget for your long-term career. Suggested percentages are provided, but you may adjust those to fit your situation. Make sure your percentages are reasonable and that they add to 100%. You have some blank sections provided to account for your own personal flare.

Your Long-term Job __________________________________________________

Your Monthly Take Home (Net Income) ____________________________________________

Where will you live (apartment or house)? __________________________________________

Category

%

Your Percent

Work Space

Dollars per Month

Rent/Mortgage

25%

Car Payment

6%

Car Insurance/Maintenance

6%

Utilities

5%

Groceries

9%

Insurance (Renter’s/Life)

3%

Savings/Debt/Credit Cards

17%

Entertainment

15%

Cell Phone/Internet

2%

* All doctors must budget $2000 per month for malpractice insurance.

** Any long-term career that requires education beyond high school must budget an extra $300 to pay back school loans.