Activity 1 - Family Budget Plan- Membreno, Erick .xlsx - Student Template

/ certify th<t this is my own work, done by myself. last updated °±²°±³³ 9_YZY`Z[ZIOJPJYST_YZY YSTFLXRSJPJ% $ Erick Membreno 73:-2° ±² enter section here *).FL[\[NTNOIO^XYXZTUYST +0FLXRSNTNOWQR^_^ 73ZTUYST_YZYMSMWQR^_^ (',`Z[ZIOLRLJPJ_YZY '&+HN_YZYNTNOZTUYST 6WQRFLYST 73ZTUYST_YZYMSMWQR^_^ 73ZTUYST_YZYMSMWQR^_^ 73ZTUYST_YZYMSMWQR^_^ .3/4)(-573+*/ +*/>=6+*/49+*/9 +*/>=6+*/49+*/9 Miscellaneous Income -2ZTUXRSJPJ .3/YST^XYX`Z[Z]WXWFLYSTHNJPJ Salary ³ ±´$ µ¶µµ · Cable TV ³ ! ¶±$ · &uto ³ "#¶µµ · .3/YSTHNZTUXRSJPJ :ZTU_YZYFLWQR ³ ±´$ µ¶µµ · Cellular telephone ³ °µ$¶±  · Health ³ °$"¶#$ · Electricity ³ ¸$¶ ! · Homeowner´s ³ #¹¶µµ · 6'&+?>D856262 *).+*/*).;)(-:.3/549 Home Mortgage ³ °´¸±$¶µµ · Life ³ ±"¶#¹ · Federal Income Tax ³ ¸!"¶±  · County Property Taxes ³ °°¹¶ µ · .3/YST^XYX`Z[Z]WXWFLYSTHNJPJ :ZTU_YZYFLWQR ³ ±µ ¶"° · FIC& Tax ³ ¸"#¶!# · Internet ³ ±¸¶!# · :]WXWFLYST^XYX[UVUZTU]WXW_YZYFL_YZYNTNOZTUYST State Income Tax ³ °!¹¶ µ · Landline telephone ³ ¸¹¶ µ · Fuel ³ ° µ¶µµ · µ¶²·k Retirement Plan ³ ¸±¶°" · Natural Gas ³ #$¶"  · Maintenance±Repairs ³ ¸µ¶µµ · 6FL^_^]WXWZTUWQRWQR *).JPJIO`Z[ZHN_YZYNTNOZTUYST^XYX :ZTU_YZYFLWQR ³ $±¹¶#µ · Water±Sewer±Garbage ³  ¸¶±$ · Truck Payment ³  #!¶µµ · -2ZTUXRSJPJ :ZTU_YZYFLWQR ³ °´#$ ¶±¹ · :]WXWFLYST^XYX[UVUZTU]WXW_YZYFL_YZYNTNOZTUYST :ZTU_YZYFLWQR ³ "!!¶µµ · +0'&+73.3/62?>D 9'&+<;.3/4,19 *).FLNTNOWQR^_^ 62NTNO[\[NTNOYSTLRL Emergency ³ µ¶µµ · Charitable Contributions ³ !µ¶µµ · :ZTU_YZYFLWQR +*/]^][UVUJPJYST^XYXJPJ^XYX ³ ±´¸¸¹¶°¸ · Christmas ³ µ¶µµ · Clothing ³ $µ¶µµ · Medical±Dental±Vision ³ µ¶µµ · Credit Card Payment ³ $ ¶µµ · 4JPJ_YZY 73ZTUYST_YZYMSMWQR^_^ )(-FL^XYXMSM +0WQRZTU\]\ ³¸¹±¶$¸· Vacation ³ µ¶µµ · Dining Out ³ °¹ ¶µµ · +0FLXRSNTNOWQR^_^ 9FL[\[NTNOYSTLRL^XYX :ZTU_YZYFLWQR ³ µ¶µµ · Entertainment ³ ! ¶µµ · Reminder! Groceries ³ !¸ ¶µµ · Cash Flow ,$* 06///[TIP\UZSKR ± +1*KRJQ[ZIPaZYVO\U[T`YX ± 999GGN\[VO[TT`YX ± ,2++^]]VUKR[T`YXKR`YX Health Club Dues ³ ±#¶µµ · Household Supplies ³ ¸ ¶µµ · Miscellaneous ³ "µ¶µµ · Pet Food ± Vet bills ³ ±¹¶µµ · *).FLNTNOWQR^_^ 62NTNO[\[NTNOYSTLRL :ZTU_YZYFLWQR ³ °´¹! ¶µµ · 7`Z[ZJPJ^XYX_YZYNTNOZTUYST^XYX% $ _YZY^_^[UVUJPJ ^_^ZTU`Z[Z]WXW FLYST^XYX\]\JPJ]WXW^XYX NTNOYST _YZYMSMJPJ '&+YST^XYX\]\JPJ]WXW GMZTU]^]JPJ^XYX [UVU]WXWZTU[\[NTNOIOJPJIO GMJPJWQRZTU\]\ Question "± ===DUGGNaZY VO`YX aZYUKR [TKRaZY ZS\U[TaZYUYR_^ IPGGN`YXU SYR\U]\ S\U_XW aZYUKR +1*GGN\[VOJQ`YX\U[T`YX&, (.'_XWKR aZYUKR_^ YRVO\[VO[TT ]\VOaZYUVO[T aZYUKRVO_XW ZSKRGGN[T`YX² \U_XW T\UVO[TT S[Z_XWaZYUKR_XW VO[TaZY\U JQKRHOaZY&, His net monthly cash flow is ¸¹³µº ¹º They are going further into debt because he is wasting more than he earnsº S\LZ[PVU ' ± RhDt percent of their monthly gross income is dedicDted to the combination of their mortgDge² homeowner’s insurDnce² Dnd county property tDxes: ²»ºµ¹¼º ¸²»µ¹º»¶º Question $3± ===DUGGNaZY ]VUKR_XWIPKR[TaZY \US aZYUKRVO_XW ZS\U[TaZYUYR_^ T_XW\U`YX`YX VO[TIP\UZSKR VO`YX JQKRJQVOIPGGNaZYKRJQ aZY\U \[KRUVOIPYRKR KR^]]VUKR[T`YXKR`YX&, /5..\U]\ JQ\UKR`YX aZYUKRVO_XW ZS\U[TaZYUYR_^ \[KRUVOIPYRKR KR^]]VUKR[T`YXKR IP\UZS]VUGGN_XWKR aZY\U aZYUKRVO_XW ZS\U[TaZYUYR_^ S\U\UJQ KR^]]VUKR[T`YXKR&, ½¼º Their truck payment is almost as the same they spend on groceriesº The difference between their payments is ¸µ º¶¶º They spend more on groceries than on their payment truckº Question %4± 9222VO`YXaZY GGNaZY YRKRGGN`YXaZY " YRVO[TKR VOaZYKRZS`YX aZYUGGNaZY aZYUKR +1*GGN\[VOJQ`YX\U[T`YX IPGGN[T[T\UaZY IP\U[TaZY_XW\UYR VO[T aZY_XW_^VO[TT aZY\U ZSGGN[TGGNTKR aZYUKRVO_XW IPGGN`YXU SYR\U]\° 9222VO`YXaZY ! \UaZYUKR_XW YRVO[TKR VOaZYKRZS`YX aZYUGGNaZY ]\\U[ZYRJQ HOKR JQVOSSVOIP[ZYRaZY aZY\U IP\U[TaZY_XW\UYR° His Federal income tax¾ State income tax¾ and FIC& taxº It would be difficult to control his his home mortgage and auto insurance Question &5± 9222VO`YXaZY GGNaZY YRKRGGN`YXaZY " YRVO[TKR VOaZYKRZS`YX aZYUGGNaZY ]\\U[ZYRJQ HOKR T\U\UJQ aZYGGN_XWTKRaZY`YX S\U_XW aZYUKR +1*GGN\[VOJQ`YX\U[T`YX aZY\U _XWKRJQ[ZIPKR VO[T \U_XWJQKR_XW aZY\U ZSGGN[TGGNTKR aZYUKRVO_XW IPGGN`YXU SYR\U]\° Entertainment¾clothing¾ and dining outº