Seventh Grade Staar With The New Teks Worksheet - 2015 Page 41
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45Monthly Budget Example
Monthly Budget
Income (annual take home pay of $64,646)
Salary/wages (take-home pay)
5388
Other (bank account interest)
60
Total monthly income
5448
Expenses
Fixed/Variable
Housing (mortgage/rent)
1080
24%
F
Property tax
385
F
Insurance (home, car, life)
200
F
Food
970
V
Utilities (water, gas,
230
V
electricity)
18.
Cell phones
128
F
7.13b
Cable/internet
145
F
Gasoline
210
V
Child care
400
F
Pet expenses
0
V
Credit card charges
410
V
Entertainment costs
300
V
Gifts/charities
100
V
Other
0
V
Total expenses
4558
Savings
Emergency fund
100
Retirement savings
340
College savings
450
Total savings
890
The table represents the Martin family’s budget. Their net monthly income is
$3,900. How much does the Martin family put in savings in a year?
Category
Percent
Emergency Fund
4%
Savings
10%
Housing
25%
19.
Food
15%
7.13b
Clothin
8%
Entertainment
15%
Transportation
12%
Medical costs
11%
A $120
C $2,028
B $390
D $4,680
th
Created by Lance Mangham, 6
grade math, Carroll ISD
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