Created by: Franklin County 4-H/Youth Development Revised by: KY Dept. of Financial Institutions...
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![Page 1: Created by: Franklin County 4-H/Youth Development Revised by: KY Dept. of Financial Institutions 2015 Kentucky Department of Financial Institutions.](https://reader035.fdocuments.us/reader035/viewer/2022062423/56649e9e5503460f94b9fadf/html5/thumbnails/1.jpg)
Created by: Franklin County 4-H/Youth Development Revised by: KY Dept. of Financial Institutions 2015
Kentucky Department of Financial Institutions
![Page 2: Created by: Franklin County 4-H/Youth Development Revised by: KY Dept. of Financial Institutions 2015 Kentucky Department of Financial Institutions.](https://reader035.fdocuments.us/reader035/viewer/2022062423/56649e9e5503460f94b9fadf/html5/thumbnails/2.jpg)
What is a budget?
Step-by-step plan for meeting expenses in a given period of time
Everyone budgets Budgeting is about
choices
![Page 3: Created by: Franklin County 4-H/Youth Development Revised by: KY Dept. of Financial Institutions 2015 Kentucky Department of Financial Institutions.](https://reader035.fdocuments.us/reader035/viewer/2022062423/56649e9e5503460f94b9fadf/html5/thumbnails/3.jpg)
Education
![Page 4: Created by: Franklin County 4-H/Youth Development Revised by: KY Dept. of Financial Institutions 2015 Kentucky Department of Financial Institutions.](https://reader035.fdocuments.us/reader035/viewer/2022062423/56649e9e5503460f94b9fadf/html5/thumbnails/4.jpg)
The Basics…Housing
Rent:Apartment: = $400/MonthHouse: = $500/Month
House:Small = $800/Month
(1 story, 2 bed, 1 bath)Large = $1,500/Month
(2 story, 3 bed, 2 bath,
workout/game room)
Rented House or Small House Owned (2bed, 2bath, $150K in Taylor Mill)
Large House Owned(3bed, 3bath, $350K in Louisville)
![Page 5: Created by: Franklin County 4-H/Youth Development Revised by: KY Dept. of Financial Institutions 2015 Kentucky Department of Financial Institutions.](https://reader035.fdocuments.us/reader035/viewer/2022062423/56649e9e5503460f94b9fadf/html5/thumbnails/5.jpg)
The Basics… Travel
Own…Makin’ A Statement ($40,000) = $600/MNew, Basic ($20,000) = $300/MUsed Car (good shape, $8,000) = $150/MUncle Ray’s Auto (oh my, $2,000) = $50/M
Hitch a Ride…Bus = $50/MonthCab = $100/MonthFriend = $25/Month + loss of a friend
Statement: Chevrolet Camaro 2SS -$40,000
New, Basic: Chevrolet Silverado - $22,000
Used: 2008 Toyota Camry - $7,500
Uncle Ray: 1995 Ford Escort - $2,500
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Travel, The Real Story…
Gas! = $100/M
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Entertainment
TelevisionLocal/Antenna = FREE!!!Cable TV = $30/MonthSatellite TV = $60/Month
InternetNone = FREE!Dial-Up = $10/MonthHigh-Speed = $30/Month
![Page 8: Created by: Franklin County 4-H/Youth Development Revised by: KY Dept. of Financial Institutions 2015 Kentucky Department of Financial Institutions.](https://reader035.fdocuments.us/reader035/viewer/2022062423/56649e9e5503460f94b9fadf/html5/thumbnails/8.jpg)
Entertainment
Cell Phone None = FREE!Basic = $50/MonthUnlimited = $120/Month
Entertainment/Going OutOnce a Month = $25/MonthOnce a Week = $100/Month
(NOTE: “Entertainment” could be a movie, game, concert, date, anything!)
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Entertainment, The Real Story… Cable:
Installation = $5/Month for 6 months
Internet:Installation = $5/Month for 6 months
Cell PhoneActivation Fee = $5/Month
for 6 months
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Payin’ The Bills
Garbage = $25/Month Water = $25/Month Electric:
Own = $150/MonthRent = $100/Month
![Page 11: Created by: Franklin County 4-H/Youth Development Revised by: KY Dept. of Financial Institutions 2015 Kentucky Department of Financial Institutions.](https://reader035.fdocuments.us/reader035/viewer/2022062423/56649e9e5503460f94b9fadf/html5/thumbnails/11.jpg)
Payin’ The Bills… Insurance Health Insurance:
Good Coverage = $328/Month Regular Coverage = $259/Month Catastrophic = $134/Month
Home: Own = $50/Month Rent = $25/Month
(or free for no coverage)
Car Insurance Fancy = $300/Month New = $200/Month Used = $100/Month It Runs = $50/Month
Other: (Dental, Vision, Life Insurance, etc.) = $20/Month Each
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Taxes!
Rent = FREE!!! Own Small Home = $70/Month Own Large Home = $150/Month
Fancy Car = $100/Month Basic New = $50/Month Small Used = $20/Month Uncle Ray Special = $10/Month
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More Stuff to Buy…
Home Supplies: (Cleaning, furniture, odds/ends)
Own = $100/MonthRent = $50/Month
Hygiene: = $50/Month
Food:Eatin’ Good: = $600/Month ($20/day)
Gettin’ By: = $300/Month ($10/day)
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Surprise, Surprise… Parking Ticket = $25 Speeding Ticket = $193 Birthday = $25 New Tire = $100 Oil Change = $35 Doctor Bill
Good Insurance = FREE!!!Regular Insurance = $25Catastrophic = $200
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How Did You Do?
Always Be Aware!!! Don’t Take Things at Face Value. Save, Save, Save
Goal is 10%Pay Yourself First!!!