Financial Literacy Project By Trinitee HallI'm a doctor

To find my monthly income I had to multiply my salary by %15 to get a total taxes of \$11,445.75. Then I subtract the taxes from the salary and get a annual net income after taxes of \$64,860.75.Then I divide that by 12 to find my monthly net income. I use this for the rest of my project.

CHOOSE A HOME

We had to pick a home the way I chose a home is by multiplying the monthly income by %35 to get a monthly housing budget of \$1891.77. This means that total cost (including the average cost of utilities each month) has to be less than this number. The total cost of the small house I picked, was \$1375 I had \$516.77 left in my %35.

CHOOSE A CAR

Next we had to pick a car, the way I picked a car is by multiplying the monthly income by %15 to get a monthly car budget of \$810.76 this means that the car I picked has to be %15 or less, so I picked a Kawasaki Motorcycle this vehicle I am able to pay for.

Next we made a grocery list. We made a grocery list because we need groceries and things to live off of.

MY GROCERY LIST:

milk (bulk)................\$4.62

eggs (bulk)...............\$4.38

fruit (bulk).................\$10.98

vegetables (bulk)......\$10.26

bottled water (bulk)...\$5.88

vegetable oil (bulk)....\$7.38

butter (bulk)...............\$5.28

mac and cheese (bulk)........\$5.88

meat (bulk)..........................\$7.89

condiments (bulk)................\$4.88

juices (bulk).........................\$5.00

bath essentials (bulk)..........\$8.50

trash bags (bulk).................\$11.99

spaghetti (bulk)...................\$7.99

spaghetti (bulk)...................\$8.76

breakfast (bulk)...................\$7.36

flour (bulk)...........................\$3.99

tooth paste (bulk).................\$4.99

cereal (bulk)..........................\$3.75

nuts (bulk)............................\$8.99

paper plates\cups (bulk)......\$7.89

paper towels (bulk).............\$3.84

toilet paper (bulk)................\$3.79

canned food (bulk)...............\$3.49

dairy products (bulk).............\$3.49

sea food (bulk)......................\$3.84

snacks (bulk)........................\$2.04

After making my grocery list we put every thing on a budget spread sheet.

Monthly income: \$5,405.06

Savings: -\$540.51

Monthly income:\$4,864.55

Housing: -\$1,075

Monthly income: \$3789.55

Utilities:-\$300

Monthly income:3,489.55

Car payment:-\$172

Monthly income:\$3,317.55

Car insurance:-\$65

Monthly income:\$3,252.55

Gas: -\$70

Monthly income: \$3182.55

Groceries:-\$166.39

Monthly income:\$3,016.16

Clothing:-\$800.59

Monthly income:\$2,865.57

Entertainment:-\$1,000

Monthly income:\$2,665.57

Pets:-\$250

Monthy income:\$2,625.57

Health insurance:-\$150

Monthly income:\$2,475.57

Phone:-\$80

Monthly income:\$2,395.57

Restaurant:-\$232.05

Monthly income:\$503.52

Fun money:-\$503.52

Monthly income:\$0

REFLECTION

I think this project is important because it teaches us about financial literacy and real Iife situations.