Christin Maur September 29, 2020 Budget

You're going to take 65,000. We're going to multiply it by 28% of tax rate, but not as a present, but by a decimal. And that is going to equal with 18,200. So, when I have a job that pays $65,000, I don't take home $65,000. I take home after tax, and so I have to do, annual-taxes=net. So, I have 65,000-18,200, and that's going to give me $46,800. So my amount of taxes is 18,200, my net annual. Means what I take home is $46,800.

Now I'm going to do net monthly. So, what I'm going to do is I'm going to take that, $46,800 is what I earn all year. And I want to have my monthly is net-12=monthly. So, I have $46,800, divided by 12 is going to give me my monthly, and that means I have $39,00 to spend each month. Right here is what i spend each month. Okay, I'm going to add up all of this, and I did verify that is 39,000. Okay, now what I'm going to do is I have projected and i said; "hey, I'm gonna spend 10% on church, 10% on savings, 15% percent on debt, 15% percent on transportation, 20% percent on groceries and 30% percent of housing", that's what i project.

And this is actual. So, I'm going to see how close I did it. So I am going to take each one of these, and I am going to calculate the actual percentage in which I did. So, remember, percentage is part over whole. And so what I'm going to do is 1200(my part)/3900(my income), and when I do that, it's .307 (31%), and this is over.

Okay, because that's about 31% and I'm always going to round up, because if I round down, I may mess up on my money. Ok, housing - 950/3900=.243, so I'm going to say 25%, and that was groceries. And this is, we're gonna get this where i can see it, it's all over. So far, I'm not doing so well.

I'm spending more money than I want to. And then I'm going to do transportation 490/3900=.125, which is 13%. And transportation, I got under good, I got under. So by going over on housing and groceries, I went under on transportation, so I save some money. I am still staying within 3900, so I'm good.

And then, what I'm going to do is I'm going to do debt, 585/3900=.15 (15%)...huh.. right on it. That's a check mark. And then, I'm gonna do 390/3900, that's ten percent, again, right on it. And then, savings are going to do, 285/3900=.073 , which is 08, and that is under. So, I blew it on my housing, and I blew it on my groceries. But, I saved on my transportation, and I didn't put as much money as I wanted to and savings probably, because I had to cover my house in my groceries. That is part one of the **budgeting based on annual salary**, taking out the tax, figuring out your __monthly income__ in seeing how much that is, and we will continue that in another part to figure out the projected in the differences.

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