full explanation step by step

Build a person budget, focusing first on costs, as follows: 1. take an inventory of all cost categories and cost items you would expect a regular person to incur, during a typical month of the year. 2. fill in the amounts for each one 3. calculate the grand total, for that month 4. extrapolate to a full year and calculate the grand total for the entire year 5. assuming an income tax rate of 25%, calculate how much income you need for the year, to satisfy your annual cost of living 6. choose the number of years during which you expect to earn an income 7. calculate the total earning potential over your entire lifetime NOTES: 1. please state all your assumptions clearly 2. do not skip costs; if they do not apply, please use a value of zero 3. complete all the work and submit on time