A balanced budget

when you are a veterinarian, you are told that you will be paid $3,462.83 a month. But that's before taxes...... after taxes you only have $1,932. After 6 month you will have saved $2,077.68 after a year you will have saved $4,155.36. The way I calculated this is by doing the $1,932  multiplied by 12 months to get the yearly income witch is $4,155.36.Then to get my income for 6 months I did $1,932 multiplied  by 6 months to get my income for 6 months witch is $2,077.36.So being a veterinarian will give you enough money after taxes to spend on other items.So you have more money than the minimum amount of money to pay your taxes.  

I decided to live in a big apartment for now so that I would have more money for things I need like food and clothing. I also got ford fiesta so that I can have money to spend on necessary items like food, also I have money to spare to go paces, and have unnecessary items like restaurants and movies and entertainment.  

Below I will have my grocery list, and next to the item I will show you the cost....

            MY GROCERY LIST FOR THE MONTH

TOILET PAPER........$11.97

PAPER TOWEL.......$15.97

MEAT.........$2.00

KETCHUP,MUSTARD,RELISH.........$5.58

BREAD.........$2.37

BURGER BUNS.......$7.99

LUTES....$4.19

WATER BOTTLES....$3.49

MILK....$4.99

CHEESE.....$2.98

BELL PEEPER (bulk)....$4.95

FLOWER (bulk)......$248

WATER MELLON.......$2.99

CEREAL (bulk).....$3.98

TRASH BAGS (bulk)......$12.52

PASTA (bulk).....$2.42

MASHED POTATOES (bulk).........$2.68

RANCH......$2.68

FLAVORING.......$29.99

BUTTER.......$5.48

SOUP........$2.00

DEVILED EGGS.........$9.48

BURGER PATTIES.......$17.92

CHOCOLATE CHIPS.......$3.48

FRUIT.........$139.99

BEANS.....$18.88

CORN ON THE COB......$2.00

WAFFLES......$4.78

SYRUP.....$2.98

The total cost of my groceries is $337.51.

The way you can keep track of everything you spend, is call a budget it has all the money you spend and how much money you have left, a balanced budget is when you have no money left over when you receive your pay check. Below I will show you my balanced budget.

             my budget spreadsheet

Expenses   amount                 monthly                                    budgeted          budget balance

                                                                                       $3,462.83                          

SAVINGS                   $346.28                                       $3,116.55      

HOUSING                 $765.00                                         $2,351.55

UTILITIES                 $120.00                                         $2,231.55

CAR PAYMENT       $120.00                                           $2,007.55

CAR INSURANCE    $224.00                                          $1,932.55

GAS                          $120.00                                           $1,812.55

GROCERIES            $337.51                                           $1,475.04

CLOTHING               $75.00                                              $1,382.04     ENTERTAINMENT    $155.00                                            $1,227.04

PETS                          $600.00                                           $627.04

HEALTH INSURANCE  $150.00                                       $477.04   

PHONE                       $80.00                                           $397.04

RESTAURANT            $197.00                                        $200.04

FUN MONEY              $200.04                                          $000.00                   

That is my balanced budget.The way you can calculate this is by taking what you earn for the month and each time there is an expense you subtract the expense from your income before taxes.

This project is both fun but at the same time, a challenge. What we did was first was we choose a job, then we we were told how much we were paid monthly,with that information we figured out what we would save in 1 month by doing (your monthly income) $3,462.83 multiplied by 10% to get my savings after 1 month. Then we found the yearly savings by doing (your monthly savings) $346.28 multiplied by 12 months (there are 12 months in a year) to get your yearly savings witch for me was $4,155.36. After that we did our monthly income witch for me is $3,462.83 multiplied by 35% (.35) to get our budget for our house, because your house cannot be more than you 35% of your monthly income. After finding the budget of our house ( for me it was $1,211.9) we added the cost a month for the houses and the cost of utilities together to get the total cost. That told us witch houses are available that is under or on our budget. After choosing a house we found our budget on a vehicle, by doing (your monthly income) $3,462.83 multiplied by 15% (.15) because the amount you spend on a vehicle must be at least 15% of your monthly income my budget was $519.42. Now knowing your budget you add up the price of car each month to the insurance on it and the amount of money it tacks to fill it up with gas together to get the total cost, if the total cost is on or below your budget than you can get that car or motorcycle. After choosing a car/motorcycle we created grocery list and went online to find the prices of the items at a store near us,then we added up the total cost of the groceries for a month. We then created a budget spreadsheet to put all our expenses on. This protect is important because it taught me how to manage my money and made me realize that the things you buy adds up quickly.