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Personal Budget Assumption Mcgraw Hill Connect Case

In: Business and Management

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Personal Budget

School Supplies- This consists of various items needed for school such as books or class supplies like notebooks and pencils. This cost is normally higher during the beginning of the school year and goes down as the school year progresses.

Food- This consists of the food I must purchase each day in order to eat my daily meals. I normally eat two meals a day and they are almost always cooked at home. I occasionally eat at the Cafeteria at school so this cost can be variable.

Non-food essentials- This consists of any item I use daily as well. Such as shampoo, body wash, face wash, deodorant, toothpaste, shaving cream etc. I use these items everyday and this cost is fixed.

Non-food refreshments- This consists of anything I consume that is not a food.

Entertainment- This consists of items or services that are purchased for entertainment such as going to the movies or a museum etc. This is done on a fairly consistent basis from week to week.

Clothing- Clothing is more of an occasional cost. I normally go out and purchase clothing a few times a year for each season and occasionally will purchase single items throughout the year.

Car Expense- This consists of my expenses that go towards my car on a regular basis such as gas and oil changes. This excludes emergency type expenses such as extensive vehicle damage or issues.

Charity- This consists of money donated to charity each week.

Subscriptions- This consists of my monthly subscriptions. The subsciption is to Netflix and is a monthly cost of $8.

Rent- This consists of a fixed cost each month that I must pay for rent for the building I live in. This is a cost that is incurred each month and must be paid by a specific time.

Utilities- This consists of the utilities in my home such as gas, electric, water and TV.

Girlfriend- This section consists of money that goes towards dates with my girlfriend each week. This cost is fairly consistent but will change from week to week based on what the plans are. Sometimes it is significantly more, sometimes it is significantly less.

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