How my Budget is Working Successfully for Me
Journal 7: My Budget
Journal 7: How I Can Improve My Budget or How My Budget is Working Successfully for Me.
Instructions:
Write your own budget for your own reference using Joe's Budget as an example
Write Journal 7 applying what you learned to your own budget, "How I Can Improve My Budget", or "How My Budget is Working Successfully for Me".
Joe's Budget
Joe's Monthly Financial Profile:
A place to live (i.e. Joe doesn't like roommates)
Three meals a day
Joe has an old car that is paid for and gets 12 mpg
Car insurance is $30/month
The car breaks down occasionally and repairs average $50/month
Joe works 25 hr/week at min. wage
Joe has a school loan payment of $50/month
Joe likes to party
Joe belongs to a health club with $50/month dues
Joe likes to eat out 3 times/week
Joe's girlfriend lives 500 miles away and he calls her twice a week
Joe's job is 10 miles from school and he lives midway between school and work
Mom and Dad send Joe about $75-100 every 3 months
Joe has 2 credit cards with a total balance of $300
Joe goes to a concert or movie every 2 weeks
Caroline's Monthly Financial Profile:
A place to live- $650/month
Three meals a day- $75/month
A new car- $380/month
Car insurance- $100/month
The car rarely breaks down, and repairs cost an average of $20/month
Caroline works 40 hours a week at minimum wage
Caroline has a school loan payment of $150/month
Caroline likes to party
Caroline belongs to a health club with $40/month dues
Caroline likes to eat out 2 times a week
Caroline's job is 5 miles from school, and she lives 5 miles from work
Caroline doesn't have any credit cards
Caroline goes to a concert or movie every 2 weeks
How my Budget is Working Successfully for Me.
There are other people i...
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