Developing a Monthly Budget
Introduction
In a few years, you’ll be living on your own. When that time comes, unless you’re independently wealthy, you’re going to need to budget your money. This exercise will give you the chance to look into your future and figure out how you might live within your means.
Task
Imagine that you are now out on your own, earning a living and ready to support yourself. The following applies to you:
You’ve gotten a job in the city of
Richmond Virginia
Your disposable income is
$2,000/month.
You need to rent some kind of
housing and buy a car. This car will be purchased over three years.
To make sure you can live on your salary, you need to have monthly budget.
Process
Use this Excel file to develop a monthly budget.
1. Find six housing and automobile options, and complete appropriate spreadsheets. Once you’ve found six of housing and automobile options, narrow your selection to two options.
2. Using grocery flyers and prior knowledge develop a weekly grocery list.
3. Develop three budgets using different combinations of options.
Resources
Use the following websites for information:
Automobile Options:
www.autobytel.com/content/buy/LM/new/index.cfm?id=17610
www.carmax.com/dyn/home.aspx?adcode=GOOAW209291&CMP=KNL-3N7X55145686&s=0