Use the attached file to build out a budget that you feel matches the average student here at Albany State University. At each step be sure to write out some explanations in the associated text boxes.

Begin by estimating their monthly income. To get a good estimate consider how may hours per week your peers typically work, what you think their pay rate might be, and note that "take-home" pay is likely 80% after taxes. Be sure to explain how you calculated this number in the "Income" text box.

Next fill in the expenses section. Be sure to include each of the following: at least three different fixed expenses, at least three different variable expenses including some that vary by week (some months have four weeks and some have five weeks), and two expenses that need to be converted to a monthly rate from annual or seasonal amounts. If you feel that something here needs additional explanation fill that in the associated text box.

Using the previous information and what we have covered in the Budgeting Module calculate the net income for our average student.

Take some time to write a written reflection of your findings using at least 200 words. Here are some questions to get you started (feel free to answer one, all, or none of these example questions in your reflection). In what areas do you feel your peers overspend? Is there enough money to cover normal living expenses? How do you think most of your peers cover their expenses?

The the end result should look like this

Sheet1 Sheet2 Sheet3 Monthly Numbers Income Total Income Expenses Fixed Expenses Total Fixed Expenses Variable Expenses Weeks This Month Weekly Budget for 0 0 Total Variable Expenses Total Expenses Net Income 0 0 Monthly Numbers Income Part-time Job Other Job 1300 400 Step 1. Use the amount shown on your paystub to get income. Total Income 1700 Step 2. 10% to the emergency fund. Expenses Fixed Expenses 10% for Emergency Fund Rent Netflix Hulu Phone Plan Car Insurance 170 450 15 12 60 120 Step 3. List expenses. Total Fixed Expenses 827 5 Variable Expenses Utilities Groceries Eating Out Entertainment Hair Charity Gifts Weeks This Month Weekly Budget for Groceries Eating Out 50 60 140 250 300 30 15 40 30 Step 4. Estimate variable expenses. Extra Savings Total Variable Expenses 68 873 Step 5. Assign every dollar to something Total Expenses Net Income 1700 0 Sheet1 Sheet2 Sheet3 Monthly Numbers Income Total Income Expenses Fixed Expenses Total Fixed Expenses Variable Expenses Weeks This Month Weekly Budget for 0 0 Total Variable Expenses Total Expenses Net Income 0 0 Monthly Numbers Income Part-time Job Other Job 1300 400 Step 1. Use the amount shown on your paystub to get income. Total Income 1700 Step 2. 10% to the emergency fund. Expenses Fixed Expenses 10% for Emergency Fund Rent Netflix Hulu Phone Plan Car Insurance 170 450 15 12 60 120 Step 3. List expenses. Total Fixed Expenses 827 5 Variable Expenses Utilities Groceries Eating Out Entertainment Hair Charity Gifts Weeks This Month Weekly Budget for Groceries Eating Out 50 60 140 250 300 30 15 40 30 Step 4. Estimate variable expenses. Extra Savings Total Variable Expenses 68 873 Step 5. Assign every dollar to something Total Expenses Net Income 1700 0