Money Matters

We all know that money is necessary, yet you probably aren’t aware of the many expenses adults have to pay for on a monthly basis. Below are the budgets for Tom and Cindy. They have different professions, incomes and expenses. On the right side are blank spaces for you to write down your future budget. We have only listed major expenses and have omitted such items as Internet service, haircuts, cosmetics and medical and auto insurance. On a separate sheet of paper write down all the expenses you can think of that you will have in your future.
--------------------------------	Budgets	Tom	Cindy	You
	Profession	Video Store Clerk	Computer Programmer
	Monthly Salary	$1,120	$5,000	$________
	_______-Taxes1	-257	- 1,500	$________
	Take Home Pay	$863	$3,500	$________
	Expenses
	Housing2	$450	$1,000	$________
	Electricity	$75	$125	$________
	Cable T.V.	none	$40	$________
	Phone	none	$45	$________
	Groceries	$210	$280	$________
	Clothes	none	$200	$________
	Transportation3	$100	$410	$________
	Entertainment	$28	$200	$________
	Student Loan	none	$200	$________
	Remainder	$0	$1,000	$______

1. Tom pays about 23% in taxes; Cindy about 30%.
2. Tom rents a 1 bedroom apartment; Cindy is buying a 3 bedroom/2 bath home.
3. Tom uses public transportation; Cindy drives a new car.

Source: Adapted from Texas State Occupational Information Coordinating Committee, Career Success, 1998, p.5.


Career Explorer | Wyoming Labor Market Information | Employment Resources | Send Us Mail