Money Management

By: Bryce Brown, Conner Smith, and Brelan Hunger

Description

• My name is Bryce Brown I am single parent the father of two children. I am a chemistry professor at the local junior college. On average my annual salary is 88,000 a year. My son Brelan is a freshman in JROTC at Brandon High school. My daughter Conner is a dance student at the school of liberal arts. Here’s our monthly budget.

Salary

• Salary 88,000 dollars a year • Divided by 12 months • Equals 7,300 dollars • Subtract 660 dollars for state insurance • Subtract 934.22 dollars for taxes • Take home pay 5,739 dollars

Expenses

Continuing expenses

Mortgage Payment- $610.74

Credit Card- $76.10

Grocery Bill- $134.22

Telephone Bill- $20.21

Cellphone Bill- $ 116.48

Water Bill- $86.10

Life Insurance- $145.70

Gas- $50.00 x 3(times a month) = $150.00

Car Repair- $357. 32

Car Insurance- $340.90

Medical Bill- $363. 60

Conner’s Dance Pants- $21.40

Brelan’s Army Pants and Shirt- $19.29

Gas and Electricity Bill- $268.10

Cable Bill- $131.18

Budget Breakdown• $5,739• - $573 (tithes and offerings)• -$610.76 (mortgage)• -$76.10 (credit card)• -$134.22 (grocery bill)• -$20.21 (telephone bill)• -$116.48 (cellphone bill)• -$86.10 (water bill)• -$145.70 (life insurance)• -$150.00 (gas)• -$357. 32 (car repair)• -$340.90 (car insurance)• -$363.60 (medical bill)• -$21.40 (Conner’s dance pants)• -$19.29 (Brelan’s army pants and shirt)• -$268.10 (Entergy bill) • - $131.18 (cable bill)• -$1000.00 (Savings)

= 1,324.64 left