Budgeting Interactive

* 2. For this scenario, you will need to use the following information to fill out the Mechanics Bank Sample Budget. Print out the budget and fill it in with the information given. When you are finished, type your answers in the box below.

The scenario is as follows.

Your total take home pay after deductions is $2000.

You have a 1 bedroom apartment with no roommates. Your monthly rent is $400.

You pay about $125 total for electric, water, trash, and the parking space at your apartment. Your laundry costs are included in your utilities.

Because you have an apartment, you are required to pay renter's insurance. The monthly premium is $15.

At the grocery store, you usually spend about $150 in groceries.

Trash bags, laundry detergent, and cleaning supplies cost you about $30 normally.

You drive a 2012 Honda Accord and the car payment on it is $200 (with interest included in that total).

Your monthly insurance premium is $50.

You had to get an oil change and your tires rotated this month which cost you $50.

You spend $30 a week in gas ($120 per month).

Your monthly cell phone bill is $60 and the internet at your apartment costs you $30.

Your health insurance premium has already been deducted from your pay, but you did have to visit the doctor. Your co-pay was $20 and it was $20 at the pharmacy to get your prescription filled.

You bought new work clothes and shoes for $100 and your haircut(s) cost you $30.

You go out with friends once a week to dinner and the movies which costs an average of $80 monthly.

You also pay for your own college classes and books. After your scholarships have been credited, you owe $200 a month.

You give away $20 a month to the charity of your choice.

Every month, you deposit $100 into your emergency fund.

Lastly, you have no bank fees because you have a Be the Change checking account!

***How much did you put into your regular savings at the end of the month?***