Senior Living Budgeting

a mortgage, or rent, and other bills that are associated with living adds up to

Major payments are a big part of our budget. The biggest currently is college tuition for my older brother, Sam. Some others are the mortgage, home and auto insurance,

It is obivious that the proportions of payment for housing and education in this country decreased over the period shown whereas the figure for food, health care, transportation and other rose. In 1950, housing was the costliest need, but food was the costliest one in 2010.

between spending on expenses and income.(Esko) Even if you have the wits to make it through

Loans and debts,I do plan on renting an apartment which if all goes well will be split among me and my roommates, which would come to a total of about $150 a month. This doesnt seem too bad that still leave $220 for the rest of the expenses. I also accounted for student loan which monthly would be $40, annually would be about $480. Annually the loans and debts would be about $2280. Utilities, I put as none seeing as how i will be renting and the apartments I've looked at here usually cover utilities in rent.

Personal loans and credit may not be all paid off, so there is an order for paying. For the loan of car, total expense is $1556*12*4=$74688, total interest is $49188, annual interest rate is 48.13%. For the utility loan, total expense is $933*12*3= $33588, total interest is $15588, and the annual interest rate is28.87%. For credit card, the interest is around 15%, the

The results of my Personal Monthly Budget demonstrated that my income does exceed my monthly expenses. Monthly, it is between 100 and 400 dollars because I am a student and I work part time at my minimum wage job. I am mainly supported by my parents who put me on a strict budget and require me to stick to it. It is not enough to live by because costs of living, food, and utilities are more than $400. If there is anything I want to purchase for leisure, I must pay for it myself and that causes my savings to decrease.

Putting together a budget plan required knowing what expenses were needed and were incidental expenses. However, if complete a personal budget plan, you can save, invest and plan for the future.

Budgeting also helps you in the long run because if you have an emergency or unexpected expense come up such as an oven breaking you will know how much money you have to flex with to find a solution. Another way that budgets are useful are for events. You can have a budget for any set amount a time such as a day or a week. If I have an event planned for my business I am budgeting around that to figure out how much I need to make to make a profit from the

Ask yourself how much can you afford each month once all your monthly bills have been paid?

Establish your budget. Are you looking for an easy way to begin? On the first day of a new month, get a receipt for everything you purchase. Stack the receipts into categories like restaurants, groceries, and personal care. At the end of the month you will be able to clearly see where your money is going.

Family Budget Assignment Household #1 • You are single (no alimony/child support), and work outside the home. • You have 2 children, a boy 7 and a girl 3. • You are all generally healthy with your share of colds and flu.

A budget refers to a financial plan that represents the allocation of the income to various expenditure channels such as expenses, savings, and debt repayment. A personal budget is important because avoiding financial surprises and keeping financial stress down helps avoid a crisis and allows you to focus on your overall goals. You cannot avoid all risks in life but if you plan your finances to live within your means, you can avoid being kicked out of your home, losing your car and other terrible things that a solid budget would help you avoid. Knowing what you can afford is a central life skill. Unfortunately, many do not budget even though they know they should (Wagoner, 2012).

Personal budgeting is an important factor in regards to successful long term financial stability. Budgeting has many great aspects as well as showing areas of weakness. It can show the truth about your personal financial spending habits, areas that are not looked at enough, and if there are needs for a larger emergency fund. The reality of personal budgeting is that many people potentially do not keep a personal budget for one reason or another. People also don’t consider the negative effect that it could have on one personally and or how it effects the economy.

A budget is a financial plan. It is a projection (forecast) of what will happen financially if certain strategies and decisions are implemented. This is something we all do from time to time.