Family Profile

COPY AND FILL IN THE BLANKSToday I am ____ years old. In ____ years I will be 30 years

old. This is how I want my life to look…I am ___________ (married, single, in a relationship)I have _______ (#) children. They are___ years old.I want to live in ____________(city), _______ (state)

because_________________________________.

Housing ProfileApartment for Rent ____ bedrooms/ _____ bathroomsAd or descriptionMonthly payment $________ / mo.Insurance $20/ mo. Utilities (15% of monthly payment) $_______/ mo.Total $___________/ mo.

House for Rent____ bedrooms/ _____ bathroomsAd or descriptionMonthly payment $________ / mo.Insurance $20/ mo. Utilities (15% of monthly payment) $_______/ mo.Total $___________/ mo.

Condo to Own____ bedrooms/ _____ bathroomsAd or descriptionMonthly payment (plus property tax) $________ / mo.Insurance $50/ mo. Utilities (15% of monthly payment) $_______/ mo.Total $___________/ mo.

House to Own____ bedrooms/ _____ bathroomsAd or descriptionMonthly payment (plus property tax) $________ / mo.Insurance $50/ mo. Utilities (15% of monthly payment) $_______/ mo.Total $___________/ mo.

Choose which one is best for you

Which one will you choose? ______________________________

What are the benefits of your choice? 1.2.3.4.5.

Transportation

How do you want to get around town?

What make model and year did you choose?

Types of cars

• Economy car

• Midsize car

• Large car

Monthly Car payment (7% interest on a 48 month loan)

Amount of Loan Monthly payment Amount of Loan Monthly Payment

$5,000 $119.73 $16,000 $383.14

$6,000 $143.68 $17,000 $407.09

$7,000 $167.62 $18,000 $431.03

$8,000 $191.57 $19,000 $454.98

$9,000 $215.52 $20,000 $478.92

$10,000 $239.46 $25,000 $597.00

$11,000 $263.41 $30,000 $716.00

$12,000 $287.35 $35,000 $835.00

$13,000 $311.30 $40,000 $954.00

$14,000 $335.25 $45,000 $1073.00

$15,000 $359.19 $50,000 $1,192.00

Car insurance

$100/ mo

Gasoline

• You will drive about 500 miles per month• Gas costs about $3.00/ gallon

• Economy Cars- 30 miles per gallon• Midsize Cars- 20 miles per gallon• Large Cars- 10 miles per gallon

500/ _____mpg = _____ gal

_____gal x $3.00 = ________ Gasoline Cost

Maintenance

• You will drive about 500 miles per month

• Economy Cars- 12¢ per mile• Midsize Cars- 15¢ per mile• Large Cars- 19¢ per mile

500 x ______maintenance cost = _______ total maintenance cost per month

Clothing

• Your clothing budget will vary according to your talents, taste, and time. Where do you like to shop? Are you a “blue jeans” person or someone who prefers designer clothing? (Enter you answers to these questions on #3 of your Budget Profile.) Are you willing to shop for bargains to produce a designer wardrobe or do you always pay full price? Refer to the clothing chart to determine the monthly clothing expense for your family and then enter it on #3 of your Budget Profile.

• Total Cost of Clothing $________/month

Entertainment Eating Out (Restaurants/Fast Food)Assume an average price per outing for a small family at $40.00 thenmultiply by the number of times per month you will eat out.$40.00 X ___/month = $_______ (Cost of eating out per mo.)

Recreational/Entertainment ActivitiesThese include parties, movies, concerts, sporting events, books, DVDs, CDs,

hobbies/sports, and electronics such as IPods, cell phones, internet, cable TV, etc. Use the attached list to calculate a monthly cost for each of these categories.Total Cost of Recreational/Entertainment $________

(Add both together and Enter these amounts on #6 of your Budget Profile)

Recreational/Entertainment Activities

Parties: • How many parties will you have in one year? • Multiply that number by $100• Divide that number by 12months to get a

monthly budget

Example: I will have a Halloween party, 2 birthday parties, and an Earth Day party 4 parties total x $100 = $400 / 12 months = $33.33

Recreational/Entertainment Activities

Concerts/ Movies/ Sporting Events• How many times will you go to the movies in a year? How

many times will you see a concert? How many times will you attend a sporting event? Add all costs and divide by 12 to get your monthly cost.

• Movies ____ x $10=______• Concerts ____x $50= _____• Sporting Events x $50= _____• Total ______ / 12 mo. = ____ mo. cost

Recreational/Entertainment Activities

Books/ DVDs/ CDs• How many books, CDs, or DVDs will you buy in

a month?

• Books ___x $10=____• DVDS ___ x $15=____• CDs ____ x $15=____• Total ______ per month

Recreational/Entertainment Activities

Hobbies/ Sports• How many people in your family will

participate in hobbies or sports? Multiple that number by $100 to get a monthly cost.

• Number participating___ x $100= ______

Recreational/Entertainment Activities

Electronics• Will you have internet, cable or a cell phone?

Add all of your expenses.

• Internet $30• Cable $40• Cell Phone $40• Total $______

Recreational/Entertainment Activities

Now total all your Recreational/ Entertainments costs

Parties + Concerts/movies/events + Books/CDs/DVDs +Hobbies/Sports +Electronics=TOTAL REC/ENTERTAINMENT COST per month

VacationsVacationsVacations can be short trips (2 to 4 days) such as weekend getaways or

longer trips (7 to 10 days) such as cruises or travel to other countries. Decide how many short and long trips you want to take per year, multiply that by the cost of each and divide by 12 months to get a monthly cost for vacations.\

_____ # short trips X $500 divided by 12 months = ____________ # long trips X $3,000 divided by 12 months= _______

Total Cost of Vacations per Month = _______

(Enter this amount on #7 of your Budget Profile)

Food

• This category is for food prepared at home. Using the “Cost of Food At Home” chart, select which monthly plan is right for you and your family. The Thrifty Plan is based on low-cost foods such as beans and rice and may take longer to prepare. The Low-Cost and Moderate Plans offer a greater variety; while the Liberal Plan lets you buy whatever you want, regardless of the cost.

• Total Cost of Groceries $________/month • (Enter this amount on #4 of your Budget Profile.)

Grocery Shopping

• Imagine you need to make two days of meals for your family . What will be on your menu? Don’t forget meals, snacks, and beverages.

• Once you have planned out your meals and snacks. Write a grocery store list of all of the ingredients that you will need.

Sample MenuDay One

Breakfast Lunch Dinner SnacksVeggie Omelet Peanut butter and Jelly

SandwichSalmon Granola Bar

Toast with butter and jelly Apples Couscous Yogurt

Orange Juice Carrot Sticks and ranch Zucchini with butter and parmesan cheese

Watermelon

Yogurt covered pretzels Milk

Water

*You can assume that you already have Condiments (butter, syrup, spices, ketchup, dressings, mustard, mayo) in your cupboards

Time to go shoppingLook through grocery ads to find the costs of your items. Add up all

the item prices for both days then multiply that price by 15 to estimate a months worth of groceries.

•Corn (12) $2•Avocado (3) $3

What else do we have to pay for?????

There are additional monthly expenses that you may not have

considered… Lets look at them now!

CHILD CARE

If both parents are working while there are young children in the family, (a reasonable assumption in today’s economy) you will need to consider your child-care options. First, look back to see how many children you are planning to have, and their ages to record below.

Would you have: (Circle One)

No need for child care

*A relative to care for them: ____________(who)

Full time child care in a center/pre-school/certified home-based program

Enter at [8] on Your Budget Profile

Age Arrangement

Cost per Month

Example 1 year Full Time in Center

$679

Child #1 $______

Child #2 $______

Child #3 $______

Child #4 $______

Total ------- ------- $______

Average National Child Care Costs 2010

Babies and Toddlers Ages

0-3

Pre-School Age 3-4

School Age

Full Time Day Care Facility

$679 $535 $200

Home Care Center

$525 $474 $125

Full Time Nanny

$3000 (for 1, 2, or 3 kids)

Health Insurance An unforeseen accident or illness can play havoc with the most carefully planned

budget, so health insurance is a must. Many employers will pay for a portion of your health insurance, but you will usually have to pay a portion of the cost. See the table below for average out-of-pocket costs.

Average Yearly Out-of-Pocket Cost 1 Person - $15222 People - $30103 People - $24964 People - $24725 or More People - $2340 Annual Health Care cost $_________divided by 12 = $____________ [9] Monthly Health Care Cost

FurnishingsYou will need to purchase replacement equipment and items for your home,

such as linens (sheets), appliances (coffee pot, microwave), and decorative items (holiday decorations, etc). We will assume you have already purchased computers, home entertainment items, and furniture.

Annual Budget $_________divided by 12 = $ _____________ [10] Monthly

Furnishing Cost Enter at [10] on Your Budget Profile

SavingsAlthough you may not think so now, you will need some savings in your future. There

are predictable things to save for (a house, new furnishings, children’s college, retirement) as well as things you’d rather not think about (losing your job, a major illness). It’s not fun to spend money on a new roof or a water heater, but sometimes it has to be done. It’s a lot easier if you’ve planed for it. As a rule of thumb, every family should save at least six months’ income in case of an emergency.

List what you will save for each month:______________________________________________________________________________________________________________________________ MONTHLY SAVINGS TOTAL= $ ___________ Enter at [11] on Your Budget Profile

Miscellaneous

Here are some possible additional expenses. Add what you feel you need to. For each item estimate a monthly cost.

Holiday Gifts and birthdays = $ _____________Will you have pets? Pets = $_____________Contributions $_____________Private School? $_____________Other items: $_____________

$_____________ MONTHLY MISCELLANEOUS TOTAL = $ ________________ Enter at [12] on Your Budget Profile

Now it is time to add up your monthly costs:

1. Housing $_____2. Transportation $_____3. Clothing $_____4. Food $_____5. Sundries $_____6. Entertainment $_____7. Vacations $_____8. Child care $_____9. Health care $_____10. Furnishings $_____11. Savings $_____12. Miscellaneous $_____TOTAL $________