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Family Budget
BIM
Married or Single
Occupations of both spouses
Children Salary http://www.salary.com http://about.salary.com
Salary.com
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Zip code
What Benefits Mean to Income
Salary and Benefits
66%2%
5%
4%
1%
10%
3%9%
Base salary
Bonuses
Social Security
401k/403b
Disability
Healthcare
Pension
Time off
Benefit
Median Amou
nt % of Total
Base salary $35,369 66%
Bonuses $859 2%
Social Security $2,771 5%
401k/403b $2,246 4%
Disability $580 1%
Healthcare $5,328 10%
Pension $1,522 3%
Time off $4,738 9%
$53,413 100%Occupation -- Accountant 1
Salary for a Charge Nurse
Don’t Forget Income Taxes
http://taxes.about.com/od/2008taxes/qt/2008_tax_rates.htm
Family Expenses
Rent or Mortgage Taxes Utilities Insurance Telephone Cable Medical Auto
Entertainment Clothing Food Childcare Household Personal Care Gifts Savings
Other Expenses?
Vacation
PMT Function in Excel
=PMT(rate,nper,-pv) Rate – interest rate of loan (6%) Interest is divided by number of periods Nper – number of periods in the loan If 6 years – (6* 12) = 72 periods PV – present value or amount of money
borrowed Place a (-) minus sign in front of the PV
Calculate a Car Payment Using PMT Function
You are buying a new ________. Interest rate is 6% Number of years for loan is 5 Present value of car is $25,000 What is your car payment?