Meet the Smith Family
Why should the Smith family budget?
- Financial confidence
- Self-Control
- Healthy Marriage
- Reduces Stress
- Prevents Impulse Buying
Mrs. Jada Smith:
Dental Hygienist
$68,000 gross pay income
($45,000 after taxes)
Mr. William Smith
Stay At Home Dad (Unemployed)
Willow Smith: 6 years old
Jaden Smith: 9 years old
Plan for the Future...
Total Family Income: $45,000
Total Monthly Income: $3,750
Total Monthly Expenses: $3,725
Surplus of $25
Jaden and Willow will attend college on full scholarship and the money Mr. and Mrs. Smith saved will be used for wants
Condo in Ocean Hill
258 Macdougal #3L
Optimum: Triple Play
Metro PCS
Willow and Jaden will get a job when they reach the age of 14 to help out their parents
1999 Nissan Maxima
Cost: $2,548
$51 a month
Source: KelleyBlueBook.com
The Smiths will save money for Willow and Jaden to attend college
Mrs. Smith will receive a raise from her boss to increase the family's income
Mr. Smith will become employed in order to increase the family's income