FMGT450Assesment&Forecasting_Personal Budget Assignment

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Unformatted text preview: case something was to go wrong. As a future FM a contingency plan is one of the most important item to have in a budget. Therefore I will begin to add this as a line item. 7 Future Monthly Budget 1. Income Total income $4,800.00 2. Expenses a. Rent b. Utilities $950.00 Water Heat Electricity Cable / Internet $45.00 $70.00 $40.00 $100.00 Car-Note Gas Insurance Tolls $425.00 $220.00 $275.00 $40.00 Groceries Phone Bill Prescriptions Medical Insurance $240.00 $100.00 $10.00 $200.00 Meals Entertainment $160.00 $100.00 c. Transportation d. Necessities e. Food / Entertainment f. Vacation Fund g. Debt payments Credit Cards h. Contingency i. Traditional IRA j. Savings k. Miscellaneous (Other unique expenses) Total expenses 3. Bottom Line Income Minus Expenses 8 $250.00 $150.00 $200.00 $400.00 $200.00 $600.00 $4,775.00 $25.00 Graph 1.3 Learning Based on Future One-Month Budget My future monthly budget was based off of a salary I estimated on receiving after graduating college. This worked out to be an estimated $4800.00 a month, $58,000.00 a year. With more money, no coll...
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