Fake Budget Name _____________ Income __________ Name _____________ Income __________ Combined Gross Annual Income_____________ Combined Gross Monthly Income ___________ Combined Net Monthly Income _____________ (Your combined net income should be approximately 20% less than your combined gross income).
Fake Budget. Name _____________Income __________ Name _____________Income __________ Combined Gross Annual Income_____________ Combined Gross Monthly Income ___________ Combined Net Monthly Income _____________ - PowerPoint PPT Presentation
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Fake BudgetName _____________ Income __________Name _____________ Income __________Combined Gross Annual Income_____________Combined Gross Monthly Income ___________
Combined Net Monthly Income _____________
(Your combined net income should be approximately 20% less than your combined gross income).
Fake Budget Cont’d Categories Monthly Cost
Mortgage House cost / 200 Property Tax House Cost /(100 X 12) Food/Groceries Estimate Utilities Estimate Other Estimate
Savings Estimate Miscellaneous Estimate
Real BudgetName ______________ Income ________
Categories Monthly Cost
Finances: Savings & DebtSavings:
-CD’s: Certificate of Deposit-Bonds: Government Loan-Stocks: Piece of Company
Certificate of DepositNon-Touch savings account in which a minimum
amount of money is deposited and not touched for a minimum period of time.
Interest rates vary depending on amounts and time frames.
Safest of the three savings methods due to FDIC
BondsGovernment purchased items which return money
Examples Gross Income = 75,000: Taxable income = 15% of 30,000 =
4500 + 28% of 30,000 = 8400 + 40% of 15,000 = 6000 = 18,900
98,000: 15% of 30,000 28% of 30,000 40% of 30,000 50% of 8,000 = 28,900
Already TaxedTake 20% of your combined gross income; that
is your already taxed amount.
If it’s smaller than tax owed, you owe the government.
If it’s larger than tax owed, you get a refund.
PortfolioStock Shares $$Share Total Value
IBM 10 120 1200
Costco 20 50 1000
Total = $10,000
Finances PromptDiscuss the importance of being responsible
with finances. Include methods of reducing costs and increasing savings, and discuss the importance of keeping a budget. Finally, include the benefits and dangers of credit cards as well as student loans, and include how people can pay down their debt.