C&E Budget Project (ACADEMIC)

Goal: You will create a working budget with the salary assigned to you. You will create a portfolio notebook
with illustrations showing how much you spend for each category. Your portfolio may only show one month, but it
must work for a year at your current salary level. (Final product overall quality = 5 pts)
Start: You will start with basic cooking utensils, a bed, and basic furniture and kitchen appliances. ALL other
items must be purchased, not given to you by anyone else. You will be assigned a job with a pre-tax income. Use
the guide on the back to find out how much you make in a month. (Net Income Calculation: 5 points)
Required Areas:
Housing: Research 3 apartment complexes. Get newspaper/guide clippings and information for each to
include in your portfolio. Choose one as your final choice and tell why you picked it. If you have a child,
you must have at least a two-bedroom home. (15 pts)
Utilities: You must have power, water, and laundry. The other services are optional depending on your
income. (10 pts)
Power: $75/month for one bedroom, $100 for 2-3 bedroom
Water: $25/month
Cable: $30/month for basic, $50 for digital, additional $10 for each pay channel (HBO, etc.)
Phone: $30 local (include extra for long distance); Cell Phone research plans
Internet: $50
Laundry: $20 for one person; $40 for a family (2+ people)
*Remember, if you have cable/internet, you need to remember to buy a tv/computer!
Food: You must provide enough food (3 meals per day) for each member of your family. MUST BE
REALISTIC!! (15 pts)
Groceries: List products and prices for weekly/monthly staples on your list.
Dining: Where will you go? How often will you eat out? How much do you spend each month?
Plan out a menu for a week. What will you and your family eat at each meal?
Tip: You should expect to spend a MINIMUM of $40 per week for each person.
Transportation: (15 pts)
- Car: If you make $25,000 or more, you are required to buy a car. Pick 3 cars and how much they
cost per month to buy/lease. Choose one and tell why you chose it. Will you buy a car for your
spouse? Be realistic. Show pictures.
If you have a car, you must spend $100/mo. on gas and $75/mo. on insurance for each.
- Bus: $20/month per person (must show evidence that there is a bus route from near your home to
work show schedules/routes)
Clothing: You must spend at least $25/month per person on clothing. Show pictures. (15 pts)
Extras: With the money you have left over (make sure you have some!), you must choose at least one of
the categories below. Be specific on how you would spend it. Include amounts/pictures. (10 pts)
- Vacations
- Health Insurance
- Charities/Church
- Day Care
- Entertainment
- Savings/Investing
- Presents
- Luxury Items
Final Summary: Complete the back of this sheet. Answer the questions in complete sentences (2-3 sentences
each). (10 pts)

DUE DATE:

HOW MUCH OF MY MONEY IS GOING TO

THE GOVERNMENT? (Taxes!!)
Income Amount

Percent you must subtract for

taxes

Less than $25,000

$25,000-$34,999
$35,000-$59,999
Above $60,000

15%
20%
25%
30%

How much do I make in a year? ______ (#1)

What percent from the table above fits my income? ______% (#2)
Income (#1) ____________ Taxes (#2) _______% = $______________ (#3)
If you have a spouse that makes money, add that amount now.
(Me - #3) $_______________ + (Spouse) $_______________ = $__________________

TOTAL DISPOSABLE INCOME FOR THE YEAR

$________________

HOW MUCH DO I MAKE IN A MONTH?

Take the last amount listed above (total disposable income for the year) and divide by 12

TOTAL PER MONTH: $__________

INCOME SHEET
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36.

Dental Assistant - $30,000/yr.

Broughton HS Teacher - $30,000/yr.
Transit Bus Driver - $18,000/yr.
Fire Fighter - $37,000/yr.
Waiter/Waitress at Applebees - $22,000/yr. (including tips)
Hotel Service Worker - $18,000/yr.
Flight Attendant - $38,000/yr.
McDonalds Worker - $16,000/yr.
A-V assistant at local TV news - $24,000/yr.
5am News Reporter - $34,000/yr.
Pepsi Bottling Factory Employee - $20,000/yr.
Manager of Papa John's - $38,000/yr.
Researcher for RTP chemical plant - $50,000/yr.
Nursing Unit Administrative Assistant - $27,000/yr.
Retail Clerk at Department Store (Crabtree) - $20,000/yr.
Wal-Mart Greeter - $16,000/yr.
State Trooper/Policeman - $45,000/yr.
Service Station Attendant - $17,000/yr.
Mechanic - $30,000/yr.
Automobile Salesman - $40,000/yr.
Computer Programmer for City of Raleigh - $50,000/yr.
Hair and Nail Technician - $22,000/yr. (including tips)
Accountant - $38,000/yr.
Day Care Worker - $24,000/yr.
Cable/Internet Repairman - $27,000/yr.
Real Estate Agent - $35,000/yr.
Electrician - $38,000/yr.
Construction Site Foreman - $31,000/yr.
Construction Worker - $19,000/yr.
NC State Math Professor - $65,000/yr.
911 Dispatcher - $27,000/yr.
Nurse at WakeMed - $42,000/yr.
Veterinary Assistant - $24,000/yr.
Grocery Store clerk - $17,000/yr.
Architect $73,000/yr.
Barber / hairdresser - $27,000/yr.

(REVISED TO CPI IN 2014)

FAMILY STATUS SHEET

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SINGLE
SINGLE
SINGLE
SINGLE
MARRIED, NO KIDS (spouse unemployed)
MARRIED, NO KIDS (spouse = $5,000/yr after taxes)
MARRIED, NO KIDS (spouse = $10,000/yr after taxes)
MARRIED, 1 CHILD (spouse unemployed; stays home with child)
MARRIED, 1 CHILD (spouse unemployed; stays home with child)
MARRIED, 1 CHILD (spouse = $5,000/yr after taxes)
MARRIED, 1 CHILD (spouse = $10,000/yr after taxes)
MARRIED, 2 KIDS (spouse unemployed; stays home with children)
MARRIED, 2 KIDS (spouse = $10,000/yr after taxes)
MARRIED, 2 KIDS (spouse = $15,000/yr after taxes)
SINGLE, 1 CHILD (no child support)
SINGLE, 1 CHILD (no child support)
SINGLE, 1 CHILD ($200/mo. child support)
SINGLE, 1 CHILD ($200/mo. child support)
SINGLE, 2 KIDS ($300/mo. child support)
SINGLE, 2 KIDS ($400/mo. child support)
SINGLE
SINGLE
SINGLE
MARRIED, NO KIDS (spouse unemployed)
MARRIED, NO KIDS (spouse = $5,000/yr after taxes)
MARRIED, NO KIDS (spouse = $10,000/yr after taxes)
MARRIED, 2 KIDS (spouse unemployed; stays home with children)
MARRIED, 2 KIDS (spouse = $10,000/yr after taxes)
MARRIED, 2 KIDS (spouse = $15,000/yr after taxes)
SINGLE, 1 CHILD (no child support)
SINGLE, 1 CHILD (no child support)
SINGLE, 1 CHILD ($200/mo. child support)
SINGLE, 1 CHILD ($200/mo. child support)
SINGLE, 2 KIDS ($300/mo. child support)
SINGLE, 2 KIDS ($400/mo. child support)
36. MARRIED, NO KIDS