Project Life Budget
I am single with two children, Khloe who is 8 and Kaiden who is 5. I drive 9 miles to and from my job as a Software Developer.
- I make an annual salary of $90,000
- I pay around $1,827 in taxes each month
- My net monthly income is $5,839
Each month I spend the following:
- $45 on Health and Life Insurance
- $60 in Medical and Dental expenses
- $291.95 in Savings
- $58.39 in Charitable Giving
- $50 for my Unlucky Chance card
Unfortunately, I had to spend $50 to clean my carpet after a friend spilled their drink, but I inherited $2,000 after my Aunt Matilda passed away.
I inherited stocks from three different companies, 10 shares of Facebook (FB), 75 shares of J.C. Penney (JCP), and 75 shares of Twitter ( TWTR). My investments made me $165.90.
On day 1, I made $3,713.05. On day 5, I made $3,878.95.
I live in Mankato, MN. The cost of my house is $260,000. I pay a monthly mortgage payment of $1,218.17. My house has 4 bedrooms and 4 bathrooms.
Each month, I spend $200 on the electric bill, $50 on the sewer and water payment, and $60 on the phone and internet bill.
I own a 2014 Cadillac ATS. The purchase price of the car was $38,977.00, but I paid $7,795.40 towards my down payment. My total monthly payment is $548.46.
Home Improvement & Furniture
To renovate my home, I bought a new dining room set, a bedroom set for my daughter, and a new living room set. Each month, I spend about $199.08 on home improvement expenses.
Food, Household, & Personal Hygiene
My children eat at school each week Monday-Friday, which costs me $25 each week. I eat business lunches twice a week, costing me another $18.
I spend $180.49 on groceries, household items and personal hygiene items each week. With the cost of school and business lunches, I spend $223.49 each week, costing me $893.96 each month.
Clothing and Accessories
On one shopping trip, I spent a total of $114.97. I bought a pair of jeans for myself for $39.99, a dress for my daughter for $29.99, and a pair of shoes for my son for $44.99.
Entertainment and Recreation
Each month, I spend around $170.72 on entertainment and recreation. This month, I had a night out with some friends which costed me $59 included the cost of the babysitter, and I took my kids to Valleyfair, which costed $92.97. Me and my kids also went to a movie which costed $18.75. We also took a trip to Como Zoo and went hiking a lot.
Cable and Dining Out
Each month, I spend $84.00 on Cable TV.
Me and my kids usually go out for breakfast on Sundays and occasionally go out for dinner on Saturdays, costing me around $85.10 a month on dining out.
At the end of the month, I will have $1,524.20 left. I will be putting all of this into my savings account.