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Activity_The_Student_Budget.pdf - N A ME: DAT E: The...

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The Student Budget(1/3)NAME:DATE:Part 1Directions:Use the attached budget form or the budgeting tool located on foundationsU.com to cre-ate three zero-based budgets: one for each student described below and a personal one based on yourincome (this may include a regular allowance from your parents) and expenses. Fill in all income andexpenses on the form with the information provided. Remember to compute net pay by taking 20% outfor taxes.1Marcus, a high school student, works at a lumberyard making $10.50 an hour. With his academic andsports schedule, he is able to work 25 hours a week. He can pick up extra hours, but not consistently.Marcus lives at home, so he has very few bills. He is responsible for his cell phone bill, which is $65 amonth. He pays for his auto insurance, which is $1,200 a year, and he pays for gas, maintenance andrepairs on his car. Lastly, Marcus is responsible for his spending money. He has a fully funded emergencyfund of $500 but has a goal of saving additional money for new tires. (As a high school student, assume thatgroceries, health insurance and utilities are expenses covered by his parents.)2Jenna works at the grocery store and earns $9 an hour. She is busy with extracurricular activities and onlyworks 20 hours during the week. However, she picks up an eight-hour Sunday shift once a month, for whichshe earns time and a half. Jenna also lives at home and has health insurance under her mom’s plan. She isexpected to pay for her own car repairs, maintenance and gas, as well as her auto insurance, which costs$1,000 a year. Jenna wants to take a trip to Mexico with her friends next year, which will cost $1,500.3Create a zero-based budget based on your own income (may include allowance or part-time job).
The Student Budget(2/3)Start Hereto begin your journey toward financial success!GIVINGBudgetedCharity$Other: _____________________$GIVING TOTAL:SAVINGBudgetedEmergency Fund$College$Car & Repairs$Computer$Other: _____________________$SAVING TOTAL:FOODBudgetedRestaurants / Eating Out$School Lunch / Snacks$FOOD TOTAL:CLOTHINGBudgetedClothes$Sports Jerseys / Apparel$CLOTHING TOTAL:$$$$TRANSPORTATIONBudgeted
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