Name

My Budget Work $heet

Welcome to the future in Mad City.

Congratulations! You graduated, maybe got married, and landed

a job. You also have goals,

expenses, and bills. Now you need a budget so you'll know just how much of your hard-earned money you can spend on day-to-day living expenses and, of course, how much you can save for future needs and wants.

Dilections
. Use this work sheet to determine how much
money you will allocate to each category on My Spending & Saving Plan. . Visit all the Mad City merchants and make purchases. You will write a check to each merchant. . Visit the merchants in any order. . Remember to balance your checkbook every time you write a check or make a desposit.

. Complete My Spending & Savings Plan by the . Your goal is to end up with no more than $100 in your checking account. That
means you can't be overdrawn. lt also means that any money in excess of $t OO must be put in savings, used to reduce debt, or spent your goals.

end of the session.

on

My income
Use the information on your "About Me" statement to complete this section.

My income

+ Spouse income (if married)

visitii:o3llo,,
Union

Subtotal $
Student toan 3OC

4\ ?:" Subtotal $ -_Medical insurance 1-OC

Total monthly househotd income

(This is the amount that has been direct deposited to the Credit

Union) '

41'rL

Page
O 2007 Credit Union Naiional Association
lnc.

of 7

My housing
Visit Really Realty & Utilities. Make a housing choice and add up the total monthly costs. Enter the total on My Spending & Savings plan.

Mortgage/rent payment Electricity/heat payment

Water,/sewer payment lnsurance payment (optional)

$7@ + t85

*45
visrr

Phone/cable/lSP

+7f
$ l,o6{

!."rpz arr,,f;:o ealty& utitfties

Total housing expenses

My transportation
Visit Big Wheels New & Used. Make transpodation choices and add the total monthly cost for yourself and your spouse. Enter the total on My spending & savings plan.

Your transportation
Monthly payment

Car insurance
Gas for month Vehicle repair

*loo
*L5
310
7o

5*{o
$2t
,

y,.s,r

,,.0 ,,ili? rls hetp?

d,

Bus pass (if applicable)

new & used

Spouse's tra nsportation

Monthly payment

$
+

*:tp tor a car? "$a vings i:j::,i;;;;;;'i i ;; ;i;:;,ruruiI r,,

n

Car insurance
Gas for month Vehicle repair

*18
+

Bus pass (if applicable)

Total transportation expenses

O 20O7 Credit Union National Association lnc.

$ 185
Page 2 of 7

My entertainment
Visit Fun Stuff to buy sports equipment, hobby supplies, movie and concert tickets, vacation packages, and more. Select at least 2 entertainment activities for each person age 2 or older in your household. You can select only 1 free activity per person. Enter the total on My Spending and Savings Plan.

LIST
Activity Activity

Cost $
+

Activity Activity Activity Activity

+

vitiilun sturr

Need helP?

Total entertainment expenses $

My furniture & electronics

Visit Home Stuff. Select the furniture and decorative items you want for your home. (Sorry, no sleeping on the floor!) Enter the total on My Spending & Savings Plan.

Furniture Decorative home items

$
+

c
"",.|"rii,i 3*,,

Household needs

.15
$ Llo

Total furniture & electronics expenses

@ 2OO7

Credil Union National Association lnc

Page 3 of 7

My clothing & personal care

Visit the fashion consultant at My Closet. Select the type of clothing you will purchase. Determine the type of personal care supplies and services you need for yourself and your spouse. Enter the total on My Spending & Savings Plan.

Clothing for me Clothing for

$qq
* 45
+

spouse
me spouse

Personal care for Personal care for

,,"x"fr;:K,

115

Total clothing & personal care expenses

$ ITrL

Wants and extras

Visit Mad City Mall. Select any number of optional special purchases you want for you and your family. Enter the total on My Spending & Savings Plan.

LIST
Want

Cost $

Want
Want

vrsitilr:"ffff

?n"tr

Want Want Want

Total wants & extra expenses $

Page 4 of 7
@ 2007 Credit Union National Association lnc,

My meals
Visit Gotta Eat! Select the kind of food you will eat for each week. You do not need to eat the same foods all month. lnclude how much you will spend on drinking coffee and eating out. Enter the total on My Spending & Savings Plan.

Week 1 food

$ lO 6
-/ g * -/3

Week2food week 3 food Week 4food

f$e*

( O tir"" per month @ O Eat out fine dining ( | times per month @ I
Eat out fast food

per time) + per time)

* ?0 Coffee for me + lZ Coffee for spouse + 13,"

*"ii;:$
visit Gotta
Ea

& dinins
rotar food expenses

s 4OLl

My children
Visit Kid Care to select clothing and care for your child.

. Because you are working you must hire child care. . lf your child is 1 year or younger, you must buy formula.
Enter the total on My Spending & Savings Plan.

. You must purchase clothing for your child regardless of age. . lf your child is 3 years or younger, you must purchase diapers.

Ctothins Diapers
Formula

$-J!-

* *

",J;'#J:,:;.

F0
?h O

+ lW

Child

"^r.

Presents, books, toys

+ ZO
S 43O
Page 5 of 7

Totar chird expenses

O 2007 Credit Union National Association lnc

Saving and contrilrrrtions

Determine what you are saving for and deduct the amount you will save for your goal. Determine the charitable contributions you want to make. Visit the Credit Union to deposit your check for savings and/or contributions. Enter the total on My Spending & Savings Plan. I'm saving for I'm saving for I'm saving for Deposited in savings each month $ Deposited in savings each month + Deposited in savings each month +

Monthly charitable contributions to Monthly charitable contributions to

Credit Union

Visit the

Need helP?

Total allocated to savings and contributions $

My debt
Owe nothing on your credit cards? Great! Skip this section. lf you owe, read on!
Enter the total amount you owe on your credit card. You must pay more than the minimum amount owed each month. lf you can afford it, pay off the entire amount. Visit the Credit Union and write a check for your debt payment. Enter the total on My Spending & Savings Plan.

Total amount owed times 40/o = minimum credit card paymenl

7L{6

x.o4=$
ti"

My minimum paymen

fA

,-F

#,-:',1 ,f; A sredit Union

Extra payment over minimum +

lOA.ec

Total credit card payment $

Page 6 of 7
@ 2007 Credit Un;on National Association lnc

Uh oh, I didn't plan for this.

Life happens. Write a check to the Fickle Finger of Fate for the unexpected expense card you receive. Enter the total on My Savings & Spending Plan. Unexpected expenses $ Unexpected expenses +

Total unexpected expenses $

Great! An unexpected windfall

Life happens. Sometimes you get unexpected income. Visit the Credit Union to write a check that opens your retirement account with the amount you received on the windfall card fromm the Fickle Finger of Fate. Enter the total under "Retirement Account" on My Savings & Spending Plan.

Windfall income $ Windfall income +

Total windfall

income $

DID YOU VISIT ALL THE MERCHANTS?

lf yes, great. Now you can complete My Sawngs & Spending
less in your checking account. Ptan. Make sure you have $100 or

lf no, time to get a move on. You have stores to shop and items to buy for your family.

Page 7 of 7
@

2007 Credit Union National Association lnc