Budgeting Practice

Using the example from class, complete a budget.  Be sure your income equals your expenses.

George works as a customer service representative and earns $43,000 per year after taxes.  He has two savings accounts; one at a credit union and the other at a local bank.  These accounts provide him with interest of $135 and $105 interest respectively.  George just recently purchased a new car and owes $400 per month for his car payment.  The car insurance company charges $185 per month and he estimates his upkeep and maintenance will cost him $50 a month.  George rents a one bedroom apartment in a choice location for $950 per month.  His utility bills cost him $175 per month.  In addition, George pays $65 per month to park his car in a secured lot.  George pays $125 per month for the latest iPhone and $125 for the Comcast Triple Play.  His medical and dental insurance plans cost him $75 each per month.  He shops frequently and spends $150 per month on clothes and $200 per month on groceries.  Georges uses $125 of gasoline each month and uses $80 for dining out.  He estimates his monthly expenses are $50.