Making a Personal Budget

Mark Yocum

&

Kurt Schenck

The Story of a School District Superintendent and his roommate, the FBI Agent….

Scope the Salaries

• A Superintendent of a School District in Washington D.C. makes about $78,400 annually.

• An FBI Agent in the D.C. Area makes about $81,750

For A Grand Total Of…

$160,150

Don’t Forget the Taxes!

• Adjusted Combined Income after Taxes is $128,079

• That’s $32,071 out the window!

• Uncle Sam sure packs a punch!

Monthly Budget

$10,673 dollars per month to play with!

hehehe

Let’s Go To D.C.

• Kurt and Mark decide that their place of employment will be Washington D.C.

• The nation’s capital seems like a good place to work.

Chillin` in Baltimore

• Kurt and Mark decide that living in Baltimore is cheaper and more fun than life in D.C.

• The commute to D.C. from Baltimore isn’t too bad either.

• Go Orioles!

Stratton Meadows

• Our Apartment is at 7414 Brixworth Court Baltimore, MD 21244

Apartment Details

• 3 bedrooms, 2 bathrooms, split-level, 1208 sq. ft., pet-friendly, water, sewer, trash, air-conditioned, alarm system, dishwasher, garbage disposal, microwave, private balcony, powder room , walk-in closets, wall to wall carpets for the low price of…

• $1040/month

The Floorplan

$10673.25

- $1040____

$9633.25 adjusted monthly budget

The Cars…VROOM!!!

• Kurt’s Car is a 2002 Ford Escape• Midnight Blue• $725/month

Keep on Truckin`

• Mark’s Car is a 2002 Pontiac Aztek• Aztek Yellow• $679/month

Adjust the Monthly Budget ….Again

Total Budget- Kurt’s car/month- Mark’s car/month- Gas to use vehicles- Amount Remaining

$9633.25- $725.00- $679.00- $250.00- $7979.25

Groceries/Food Expenses

• Mark and Kurt are PIGS…and they like to eat all the time, whether it be groceries, or grabbing a bite here and there, or taking the ladies out on the town

• Estimated food cost per month = $1035.00

• Adjust Budget

$7979.25 - $1035.00 = $6944.25

Let’s Have Some Fun!!!

WOOOOO!!!• Entertainment is a good way to relax after a stressful day of work.

• This includes movies, golfing, sporting events, bar-hopping, not to mention romancing fly hunnies.

Entertainment/Fly Hunnies Cost

• Entertainment is a major expense…• Estimated Cost of Entertainment per month

= $1100.00• Adjust Budget$6944.25 - $1035.00 = $5909.25

We Like To Party!!!!

Technology…the Key to the Future

• There is “cool stuff” we still want to make our lives and jobs easier.

• Computer, cell phones, internet access, PS-2, DirectTV, Stereo/Entertainment System

Additional Cool Stuff

We’ve decided to pay for half of the computer now ($750) plus internet ($45/month)

Playstation 2 runs for $300 and the monthly cost of our stereo-entertainment center is $450

Paying the Bills

• Some of this stuff isn’t too expensive!• DirectTV costs $39.99 per month• The cell phones were free with a mail-in rebate

and since Kurt and Mark have a joint plan, they only cost $40/month combined with 500 weekday minutes and 1000 weekend minutes.

DO THE MATH

• Current Budget- Entertainment Center- Playstation 2- Cell Phones- Computer- Internet Access- DirectTV- New Budget Amount

$5909.25- $450.00- $300.00- $40.00- $750.00- $45.00- $39.99

$4284.26

Where To Put It All ???

• Kurt and Mark decide that 3 bedrooms is more than enough living space…why should 2 people need 3 rooms?

• Kurt and Mark decide to turn the third bedroom into the ultimate entertainment pad.

• And every ultimate entertainment pad needs

a pool table!

The New Floorplan

• Kurt and Mark renovate the master bedroom into a gaming center.

• Pool table runs for $1525.00 from Ebay

• 8 foot solid maple pool table with carved ram’s horns

The Game Room Rules!!Do the Math

• Current Budget- Cost of Pool Table- Cost of Renovation- New Budget

• $4284.26- $1525.00- $500.00- $2259.26

Take It To The Bank

• Life is not all fun and games, and some money must be saved, invested, and banked for odds and ends.

• Mark and Kurt, being responsible adults, decide to put $1500.00 per month into a savings account for emergencies.

Abercrombie, etc.• Kurt and Mark also

decide to set $700 per month aside for clothes, just in case either one of them needs a new tie, or shirt, or suit jacket.

• Not to mention your occasional casual wear from Abercrombie.

More Math

• Current Budget- Money Saved- Clothes

New Budget

• $2259.26- $1500.00- $700.00

$59.26

Are We Done Yet?• It would seem that Kurt and Mark have covered

every aspect of a monthly budget. An apartment, cars, clothing, food, entertainment, renovations, and savings for odds and ends.

• Yet, there is still one vital subject that Kurt and Mark have not dealt with…

• Will $59.26 be enough? Have Kurt and Mark made a terrible mistake?

One

Word…

TANG

Nectar of the GODS

• Current Budget- Tang expense

Final Monthly Budget

• $59.26- $59.26- $0.00

Works Cited

• www.rent.net• www.stepfour.com• www.occupationalhandbook.com• www.irs.gov• www.ebay.com• www.clipart.com• www.nbci.com• www.carprice.com