Presupuesto

PERSONAL BUDGET – Moving Out On Your Own

Congratulations! OIPMAC Enterprises has just hired you for your first full-time job, at a starting salary of $33,600/year. Therefore, you are now ready to get a place of your own. The fun is just beginning! You will need to make some critical decisions regarding your living expenses. These decisions will include choosing an apartment, furnishingyour apartment, and purchasing food, clothing, transportation and other goods and services.

This assignment consists of three parts (Part A, B and C). You will be handing in all three parts.

PART A: Monthly Budget

The following monthly budget must be set up on a computer spreadsheet (Excel). Refer to the instructions in Part B and C when calculating the amount to be included for eachbudget line. Whenever possible, use formulas and functions when creating your monthly budget.

MONTHLY BUDGET

MONTHLY GROSS INCOME ____________

Monthly Expenses:
Cable ____________
Clothes ____________
Entertainment ____________
Food ____________
Insurance ____________
Internet ____________
Loan Repayment for Furnishings (from Part C)____________
Other Expenses ____________
Rent ____________
Taxes ____________
Telephone ____________
Toiletries ____________
Transportation ____________

Total Expenses ____________

Income minus Expenses (Savings) ____________

PART B: Written Report

You are required to hand in a report along with your monthly budget that explains how youcalculated each number in your budget, and that answers any questions that are asked below. The report must be typed, sized 12 font, double spaced and between 1250-1500 words. It is important that you clearly and accurately present your work. Here is the information that you will need to help you prepare your written report and your monthly budget:

Cover Page: Your report must include a cover page;your file must be saved as writtenreport-myname

Gross Income: Your annual net income is $33,600; be sure to calculate a monthly amount.

Cable: Your choices for cable are as follows. Make your choice and include the required amount of money in your monthly budget.

No Cable $00.00 Basic $40.00
Intermediate $50.00 Deluxe $60.00

Clothes: To calculate your monthly clothingbudget:
List all of the clothes that you wear in a year. Don’t forget about boots, coats, etc. Estimate how much each item would cost to buy. Add up the total. Divide the total by 12 to get the monthly clothing amount for your budget.

Retimans pants 5 average $30 each

Blouses 5 at $30

2 skirts at$30

Weekend wear Jeans 2 @$38

T-shirts 5@40

Coat $150

Entertainment:Estimate your monthly entertainment expenses by itemizing and then totaling them.
Here is an example:
two movie passes $20.00
restaurant with friend $20.00
dance club $12.00
weekly pickup hockey game $50.00
Total: $102.00
(Note: The list above is an example only. Your monthly entertainment expenses should be different than what is shown above.)

Food: In your writtenreport include a grocery list that lists all of the items you will need to purchase in order to satisfy your weekly menu. Beside each grocery list item, include its price. Show the total amount of money needed to purchase your weekly amount of groceries. (Note that if you plan to eat out at a restaurant, indicate that on your weekly menu, but include the amount of money under your Entertainmentexpense.)

To calculate your monthly Food expense, multiply the weekly amount of money you need for groceries by 4.5. This monthly amount for food should be included in your monthly budget (Part A).

Insurance: Everyone must have apartment insurance to cover cost of fire and theft. Assume that this will cost approximately $200 per year. Calculate the monthly charges.

Internet: Your...