Consider your current job or a job that you might realistically have want to have in the future after you graduate. - How much do you get paid for your job? If you do not have a job, research how much your realistic desired job pays in the country you plan on living in. - If you are unwilling to share your real income at your current job, use hypothetical income that is still realistic for the job you are doing. However, any numbers you use, real or hypothetical, will remain confidential. - Create an excel file that lists your revenues and your expenses. Some of the points to consider: o Living arrangements (Monthly rent or mortgage payment to the bank? Living with parents? etc.) You can use online sources to make realistic estimations here. o Transportation (do you plan to buy a car? What will be your monthly payment for it? How much gas do you plan on spending each month? Do you maybe plan on using public transportation? How much will that cost you?) o Food expenses (do you eat outside or cook?) o Hygiene product expenses (for personal care and home cleaning - you do not have to separate them if you want you can combine them with food expenses above and call them a different name together) o Entertainment (going to the movies, going out in general, buying books, etc.) o Utilities (paying for electricity, phone bill, water, internet, cable, all other monthly expenses, streaming services (e.g., Netflix, HBO, Disney +, Amazon prime, etc. and all other monthly subscriptions that may have) o Clothing expenses. o Renovation of the home/ new furniture etc. o Savings After listing all of your expenses, calculate them as a percentage of your income and indicate your largest monthly expenses. After listing all your expenses, give examples of 2 possible ways to make budget cuts (reduce your expenses) and explain your choice. -When making this budget, make it for one month only, and you can consider expenses of one typical month. - If you already have a family, you can make the budget for your entire family (in this case, do not forget to consider all sources of income that your household might receive). - If some of the expenses mentioned above do not apply to you, do not include them at all (no need to write them and then state that they are zero-skip them altogether). - If you think you will have some of the expenses not mentioned above, feel free to include them.