LIVING EXPENSES
5.4
1. You will sooner or later live by yourself. In order for you to have a sense of the
cost of living create a sample budget for all the expenses you will have when you are
living on your own. Try to include everything that you see in this sample budget. You
will need to do some research to find out realistic amounts for the expense columns.
This budget does not include any cost related to go to university or college but
just include day to day expenses.
Monthly Income
Job #1 (Lawyer) $ 16,888
Job #2 (describe job) – if applicable $
Other income (describe) $
TOTAL INCOME $ 16,888
Monthly Expenses
Rent/Mortgage (per month) $ 3100
Food $ 2160
Utilities (gas, water, electricity) $ 86.51
Transportation
-car payments $ 450
-gas $ 250
-insurance $ 200
-repairs $ 300
-parking $ 150
-bus pass $
Clothing $ 80
Entertainment $ 60
-eating out $ 150
-events (movies, concerts) $ 150
-other $
Telephone (including cell phone) $ 100
Internet $ 90
Cable TV $ 30
Household Items $ 200
Personal Items $ 50
Other $
TOTAL MONTHLY EXPENSES $ 7606.51
2. The purpose of a budget is to try to live in our means, which at times can be very
difficult and challenging. Select 3 types of expenses in the chart above that could be
