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    02.04 Why Budget

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    mea
    The document presents a yearly budget for a full time veterinarian with a gross income of $92,520 and net income of $23,170 after total yearly expenses of $56,830. It breaks down expenses into categories such as entertainment, gifts and donations, food, savings and investments, credit debt, personal care, pets, utilities, housing, and transportation. The budgeting process was described as important for efficiently managing money and living comfortably without debt.

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    02.04 Why Budget

    Uploaded by

    mea
    320 views17 pages
    The document presents a yearly budget for a full time veterinarian with a gross income of $92,520 and net income of $23,170 after total yearly expenses of $56,830. It breaks down expenses into categories such as entertainment, gifts and donations, food, savings and investments, credit debt, personal care, pets, utilities, housing, and transportation. The budgeting process was described as important for efficiently managing money and living comfortably without debt.

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    an example for economics

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    The document presents a yearly budget for a full time veterinarian with a gross income of $92,520 and net income of $23,170 after total yearly expenses of $56,830. It breaks down expenses into categories such as entertainment, gifts and donations, food, savings and investments, credit debt, personal care, pets, utilities, housing, and transportation. The budgeting process was described as important for efficiently managing money and living comfortably without debt.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    320 views17 pages

    02.04 Why Budget

    Uploaded by

    mea
    The document presents a yearly budget for a full time veterinarian with a gross income of $92,520 and net income of $23,170 after total yearly expenses of $56,830. It breaks down expenses into categories such as entertainment, gifts and donations, food, savings and investments, credit debt, personal care, pets, utilities, housing, and transportation. The budgeting process was described as important for efficiently managing money and living comfortably without debt.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 17

    02.

    04 WHY BUDGET
    FULL TIME VETERINARIAN
    By Jamea Adderly

    ……with help from the internet


    EXPENSES, INCOME, AND BUDGET

    • Yearly Budget: $80,000


    • Total yearly expenses: $56,830
    • Difference(net income minus expenses): $23,170
    • Gross income: $92,520
    • Net income: $23,170
    ENTERTAINMENT
    Entertainment Yearly Cost

    Video/DVD $5.00

    Vacation $900

    Other $500

    Subtotals $1,405
    GIFTS AND DONATIONS
    Gifts and Donations Yearly Cost

    Holidays & Birthdays $400

    Charity Donations $500

    Other $100

    Subtotals $1,000
    FOOD
    Food Cost Yearly Cost

    Groceries $4,500

    Dining Out $240

    Subtotals $4,740
    SAVINGS OR INVESTMENTS
    Savings or Investment Yearly cost

    Retirement Account $5,500

    Investment Account $500

    Emergency savings $1,000

    Subtotals $7,000
    CREDIT DEBT
    Other Credit Debt Cost Yearly Cost

    Student Loans $5,850

    Credit Card $850

    Other $300

    Subtotals $17,850
    PERSONAL CARE
    Personal Care Yearly Cost
    Health Insurance $900
    Other Medical Cost $250
    Hair/Nails $150
    Clothing and Laundry $280
    Organization Dues and fees $230
    Other $200
    Subtotals $2,010
    PET
    Pet Yearly Cost
    Food $400
    Medical $100
    Grooming $0
    Toys $30
    Other $250
    Subtotals $1,050
    UTILITIES
    Utilities Cost Yearly Cost
    Phone and/or Cell $700
    Cable and internet $550
    Electric and Gas $2,000
    Water and Sewer $500
    Water removal $250
    Subtotals $40,000
    HOUSING
    Housing Yearly Cost
    Mortgage or rent $8,455
    Maintenance or repairs $350
    Supplies $500
    Home Insurance $1,000
    Furnishings $2,500
    Subtotals $12,805
    TRANSPORTATION
    Transportation Cost Yearly Cost
    Vehicle Payment Own Vehicle
    Bus/Tax Fare $50
    Automobile Insurance $3,200
    License $150
    Fuel $1,000
    Maintenance $250
    Other $145
    Subtotals $4,795
    WHY IS BUDGETING IMPORTANT TO YOUR
    LIFE?
    Budgeting is important because it provides me
    with an efficient way to manage my money.
    Budgeting allows me to see the amount money
    needed for me to manage, and how much
    money I shouldn't spend past in order to live
    comfortably and debt free.
    DESCRIBE YOUR EXPERIENCE WITH THIS PROCESS.
    WAS IT EASY, DIFFICULT, OR SOMEWHERE IN THE
    MIDDLE? WHAT FACTORS CONTRIBUTED TO
    YOUR FEELINGS?
    I look forward to budgeting once I start
    making my own income. I had way more
    than enough to cover my expenses. I don't
    dislike math, so that made this project a bit
    enjoyable.
    HOW MIGHT THE USE OF CREDIT FOR A LARGE PURCHASE
    AFFECT YOUR BUDGET? DISCUSS WHICH TYPE OF CREDIT PLAN
    YOU WOULD USE, AND HOW YOUR BUDGET CAN HELP YOU
    PROTECT YOUR CREDIT SCORE.

    Making a large purchase off credit can be very


    risky, depending on how well one budgets their
    money. If your having trouble budgeting money
    and your net income is lower than your
    expenses, buying expensive things can mess up
    your credit score because you most likely won't
    be able to pay the money back every month.
    WHAT ADJUSTMENTS DID YOU HAVE TO MAKE
    TO YOUR BUDGET? HOW DID YOU DECIDE
    WHERE TO MAKE CHANGES?

    I made a few adjustments to my budget


    because I was contemplating on whether I
    wanted to have those things if the future, or
    not.
    WILL YOU BEGIN USING A BUDGET
    REGULARLY NOW? WHY OR WHY NOT?
    Even though I am not currently working, I still
    budget the money that is occasionally given to
    me. With this being said, in the future, I most
    likely will use a budget regularly.

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