Accounting and Finance Foundations

Unit 12

Accounting and Finance Foundations Unit 12: Budgeting and Business Plans 928

Budgeting and Business Plans Student Guide

28.1.2 Standard of Living Worksheet

Your Name: _____________________________________________________________________

Annual Gross Income: ____________________________________________________________

Monthly Gross Income: ____________________________________________________________

Education Level: _________________________________________________________________

Occupation: _____________________________________________________________________

Directions: Use the Monthly Budget Options handout to determine your monthly budget.

Monthly

Budget Item Description

Dollar

Amount

Housing

Food

Transportation

Clothing

Healthcare

Miscellaneous

Savings

TOTAL MONTHLY AMOUNT SPENT $

Gross monthly income

Taxes (30% of income)

NET MONTHLY INCOME $

SOURCE: Watts, M.; McCorkle, S.; Meszaros, B.T.; Schug, M.C.; & Becker, S. (2003). Focus: High school economics

(2nd ed.) [pp. 97–112]. New York: National Council on Economic Education.

Chapter 28