Budgeted Income Calculator

Student Name:
Occupation:
Annual Starting Salary:
TAX RATES:
Federal Income Tax Rate:
Social Security Tax Rate:
Medicare Tax Rate:
Annual Salary
Monthly Gross Income:
DEDUCTIONS:
Monthly Federal Income
Tax Withholding:
Monthly Soc. Sec. Tax With
holding:
Monthly Medicare Tax With
holding:
Monthly Net Income:

Maggie Bartek
Elementary School Teacher
$37,390 www.bls.gov

15% http://www.moneychimp.com/features/tax_brackets.htm
6.50%
1.50%
$37,390.00 http://www.bls.gov/home.htm
$3,115.83

$467.38
$202.53
$46.74
$2,399.19 Hint - taxes reduce your income, not increase it.

_brackets.htm

Monthly Budget - Maggie Bartek

Monthly Net Income
EXPENSES
House Payment
Car Payment
Car Insurance
College Loan Payment
Savings
Health Insurance
Gas (Auto)
Electricity
Water
Garbage Disposal
Groceries
Home Phone (optional)
Cell Phone
Clothes
Cable and Internet
Hair
Entertainment
Other Extras
TOTAL MONTHLY EXPENSES
$ Remaining

January
February
$2,399.19 $2,399.19

March
$2,399.19

April
$2,399.19

May
$2,399.19

June
$2,399.19

$681.43
$681.43
$681.43
$681.43
$681.43
$681.43
$40.60
$40.60
$40.60
$40.60
$40.60
$40.60
$100
$100
$100
$100
$100
$100
$0
$0
$0
$0
$0
$0
$50
$50
$50
$50
$50
$50
$150
$150
$150
$150
$150
$150
$150
$150
$150
$150
$150
$150
$100
$100
$100
$100
$100
$100
$50
$50
$50
$50
$50
$50
$20
$20
$20
$20
$20
$20
$250
$250
$250
$250
$250
$250
$0
$0
$0
$0
$0
$0
$50
$50
$50
$50
$50
$50
$10
$10
$10
$10
$10
$10
$110
$110
$110
$110
$110
$110
$0
$0
$0
$0
$0
$5
$10
$10
$10
$10
$10
$10
$5
$5
$5
$5
$5
$5
$1,777.03 $1,777.03 $1,777.03 $1,777.03 $1,777.03 $1,782.03
$622.16
$622.16
$622.16
$622.16
$622.16
$617.16

When you have populated January, don't forget to copy your data over to subsequent months so that spreadsheet is populated

Maggie Bartek
July
$2,399.19

August
September October November December
$2,399.19
$2,399.19 $2,399.19 $2,399.19 $2,399.19

$681.43
$681.43
$40.60
$40.60
$100
$100
$0
$0
$50
$50
$150
$150
$150
$150
$100
$100
$50
$50
$20
$20
$250
$250
$0
$0
$50
$50
$10
$10
$110
$110
$0
$0
$10
$10
$5
$5
$1,777.03 $1,777.03
$622.16
$622.16

$681.43
$681.43
$681.43
$681.43
$40.60
$40.60
$40.60
$40.60
$100
$100
$100
$100
$0
$0
$0
$0
$50
$50
$50
$50
$150
$150
$150
$150
$150
$150
$150
$150
$100
$100
$100
$100
$50
$50
$50
$50
$20
$20
$20
$20
$250
$250
$250
$250
$0
$0
$0
$0
$50
$50
$50
$50
$10
$10
$10
$10
$110
$110
$110
$110
$0
$0
$0
$5
$10
$10
$10
$10
$5
$5
$5
$5
$1,777.03 $1,777.03 $1,777.03 $1,782.03
$622.16
$622.16
$622.16
$617.16

hat spreadsheet is populated for the entire year.

Purchase of House

House
listing
URL:
lvd UNIT 264, 2
Austin,
TX 78758
| MLS#
4060968 | Listing Information | Austin real estate | Homes for Sale Austin | Austin Homes
3

Price of House

$82,900

Loan $ after Down

Payment

Down Payment
0.05

$78,755.00

0.06

30

14

$140.17
Monthly Payment
(Prin + Int)

Monthly Payment (w/

tax & ins)

$472.18

$681.43

Total House Cost

Total Amt of Interest

$169,983.37

17
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23
24
25
26
27
28
29

Payment #

Monthly Interest
1
2
3
4
5
6
7
8
9
10
11
12

Price:
Yearly Taxes:
City:
County:

School District:
$91,228.37 MLS#:

15
16

360

Monthly Taxes

11
12
13

Total # of
Months of
Mortgage

$1,682.00

10

Years of Mortgage

Yearly Taxes

APR

$393.78
$393.38
$392.99
$392.59
$392.20
$391.80
$391.39
$390.99
$390.58
$390.18
$389.77
$389.35

Month
ly
Remaining Balance
Princi
pal
$78,755.00
###
$78,676.60
###
$78,597.81
###
$78,518.62
###
$78,439.04
###
$78,359.06
###
$78,278.67
###
$78,197.89
###
$78,116.71
###
$78,035.11
###
$77,953.11
###
$77,870.70
###
$77,787.88

2
| Austin Homes
3
4
5
6
7
8

Monthly Rate
0.005
Yearly
Insurance
$829.00
Monthly
Insurance
$69.08

9
10
11
12

$82,900
$1,682
Austin
Travis

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24
25
26
27
28
29

Austin ISD
4060968

Paste a picture of
the house you wish
to buy somewhere
on this sheet.

O
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EXAMPLE

1
2

5
6
7
8

D
Purchase of Car

Use www.edmunds.com to find price of vehicle.

Down
Payment as
% of Price APR - Annual Years loan Months of
Payment % Interest Rate
is for
Finance
5%
7%
5
60

3
4

Price of Car
$1,994.00
Sales Tax
Amount

Total cost
$ Down
with tax
Payment
2,158.51 107.92525

164.505
Monthly Payment

$40.60

Total Cost of Car

Principal + Interest

$2,436.24

Total $ of
Interest

$385.66

9
10
11
12
13
14
15
16
17
18
19
20
21

Montly
Interest

Payment #
1
2
3
4
5
6
7
8
9
10

11.96
11.79
11.63
11.46
11.29
11.12
10.94
10.77
10.60
10.42

Monthly
Principal

Remaining
Balance
28.64
28.81
28.98
29.15
29.32
29.49
29.66
29.83
30.01
30.18

2,050.58
2021.94
1993.13
1964.15
1935.00
1905.69
1876.20
1846.54
1816.71
1786.70
1756.52 Car Year, Mak

se of Car

EXAMPLE

1
2
3
4
5
6
7
8
9
10

Monthly Interest Rate

% Rate
0.58333%
Principal of Loan
2,050.58

Price: $1,994
Make: Honda
Model: Civic Coupe
Year: 1997
Color: Red

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20
21 Make and Model

Paste a picture of
the car you wish to
buy somewhere on
your spreadsheet
.