It is time to make your budget. Most people can eat on about $350 per month if all their meals are at home and they eat a lot of pasta, chicken, pork and an occasional steak.

This does not include eating out at a restaurant, going on dates or having outings.

Also, most people want to drive a car. Car insurance that will cover your car in case you get in a wreck for vehicles that are not paid off costs about $130 per month for young men under 25 and about $100 per month for every one else. If you only have the minimum liability, your insurance is about $50-75.

Today, you will make your budget.

I want you to take your monthly salary from assignment 2, your rent payment from Assignment 2, the cost of your education/certifications from assignment 1 and the above numbers for food and insurance to create your budget. Use 1% of your education costs as a payment. You need to find a car as well. If you want or can afford a newer car that is financed, include it in your budget.

EX

Monthly Income $4300

Monthly rent: $1250

Utilities: $250 ($100 electricity, $50 internet, $50 water/trash)

Eating $350

Car insurance: $130

Car payment: $641

Rec Money: $160

Gas: $200

Car Savings for repairs: $60

Student loan Payment 1% of $55,000: $550

Total Costs per month: $3591

Income - Costs = 4300 - 3591 = $709 left over