Financial Literacy Project By Trinitee Hall

I'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:

bread (bulk).............$3.48

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

BUDGET SPREADSHEET

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.