Name:

Directions: Click worksheet to print a copy of the worksheet in PDF format. Then fill in all the blank spaces for questions 1-12 on your worksheet. After you have completed questions 1-12, go on to lesson 4, or go back to the homepage.



 
1.
  Utilities:
   

Help- Utilities: First of all you must determine which utility bills you will need to pay, estimate your monthly and yearly average, and write the Total Yearly Utility Cost in the space provided below. The cost for utilities may vary by area of the country. If you live in the south, your electric bills will be higher from running an air conditioner. If you live in the north, you will have higher heat bills. The following is a list of the average cost of utilities for the northern part of the country. Use this as a guide to help you determine your costs. If you are going to live in the south, add more for electric and less for gas.

  • Average Gas Bill: $70 Monthly
  • Average Electric Bill: $35 Monthly
  • Water/Sewage: $40 Monthly

 

Monthly

x 12 = Yearly

Gas

$

 

$

 

Monthly

x 12 = Yearly

Electricity

$

 

$

 

Monthly

x 12 = Yearly

Water/Sewage

$

 

$

 

Total Monthly

x 12 = Yearly

Total Yearly Utility Cost

$

 

$

 

 

 
2.
  Food Cost:
    Help- Food Cost: Visit the USDA Food Plans Website. Click on the most recent month on the chart. Use the chart to determine your weekly and yearly grocery bill and write your Total Yearly Food Cost in the space provided below. Keep in mind these figures are only for groceries to eat at home and doesn't include snacks from vending machines or eating out in restaurants.

 

 

Weekly

x 52 = Yearly

Total Yearly Food Cost

$

 

$

 




3.
  Miscellaneous Non-Food Items and Toiletries: 
    Help-Miscellaneous Non-Food Items and Toiletries: Miscellaneous Non-Food Items and Toiletries items include such things as Kleenex, toilet paper, paper towels, dish soap, laundry soap, bleach, fabric softener, bar soap, shampoo, conditioner, toothpaste, mouthwash, cosmetics, cologne, perfume, aspirin, vitamins, vacuum cleaner bags, etc. If you are on a budget plan and want to get by as cheaply as possible, you should figure $20.00 per month or $240.00 per year. If you have expensive tastes or buy several different vitamins on a regular basis, you might want to go as high as $50.00 a month or $600.00 per year. You decide on the amount that will fit your budget and write the total Monthly and Yearly Cost of Miscellaneous Non-Food Items and Toiletries in the space provided above.
   
Total Miscellaneous Non-Food Items and Toiletries Yearly Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 




4.

 

Clothing:

Help-Clothing: Decide how many of each clothing item you want to purchase for a year supply and multiply (x) that number by the cost for each item. This will give you a total cost for each clothing apparel item. Add all your totals together to determine a total yearly cost of clothing. Please consider the quality of clothing you are buying. It is ok to buy used clothing from a thrift store or nice clothes from a fine department store. This is your budget and you need to determine what is affordable for you. You can visit the department store links below to get an idea of the cost of each item. Hint: (it is ok to leave some spaces blank if this is something you do not need).

   
Clothing Apparel Items:
Men's Shirt
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Women's Top or Shirt
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Sweater (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Sweat Shirt (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Casual Slacks (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Blue Jeans (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Women's Skirt or Dress
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Belt (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
T-Shirts (men's - new only)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Underwear (men's or women's - new only)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Women's Undergarments (Bra - new only)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Handkerchief (men's or women's - new only)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Socks (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Shoes (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Suit (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Dress Shirt (men's or Women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Men's Tie
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Pajamas/Nightgown (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Bath Robe (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Slippers (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Athletic Apparel (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Swim Suit (women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Swim Suit (men's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Athletic Shoes (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Winter Coat (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Cap (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Gloves or Mittens (men's or women's)
How Many
 

x
Cost for each
$
 

=
Yearly Cost
+ $
 
Total Yearly Cost for Clothing

Total Yearly Cost
= $
 





5.
 

Entertainment: make a decision about all your entertainment choices, and write your total monthly cost for each option in the space provided on the right. Then add all monthly cost together to determine the total monthly cost for entertainment.


  Movies (Theatre or Rental):
  Help-Movies: Admission to most movies is around $8.50 per person or possibly more in some areas. By the time you buy refreshments, you can expect it to cost around $12.00 - $13.00 per person. The cost listed below reflects averages.
 
Movie Tickets - Matinee
How Many
 

x
Cost for each
$ 6.50

=
Monthly Cost
$
 
x 12 = Yearly
$
 
 
Movie Tickets - Adult
How Many
 

x
Cost for each
$ 9.50

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Refreshments
How Many
 

x
Cost for each
$ 8.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Movie Rentals -
(new releases)
How Many
 

x
Cost for each
$ 4.99

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Movie Rentals -
(older movies)
How Many
 

x
Cost for each
$ 2.99

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Total Yearly Cost of Movie Tickets or Movie Rentals
 
=
$
 



  Vending Machines:
  Help-Vending Machines: Determine how often you buy a candy bar or beverage from a vending machine. In larger cities, pop, water, or juice from a machine can cost as much as $3.00 or may be as high as $4.00. The cost for each item listed below reflects the average cost across North Dakota.
 
Beverages (water/soda/juice)
How Many
 

x
Cost for each
$ 2.00

=
Monthly Cost
$
 
x 12 = Yearly
$
 
 
Snacks (candy bar/chips/cookies
How Many
 

x
Cost for each
$ 1.25

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Total Yearly Cost of Purchases from Vending Machines
 
=
$
 



  Restaurants:
  Help-Restaurants: There is a wide range of cost when it comes to restaurants. Fast food will usually cost around $6.00 per person. If you go to a coffee shop, you can expect to pay $7.00-$9.00 per person plus tip. Upscale Fine Dining Restaurants vary, but the average is around $45.00+ per person plus tip. Please note that in upscale restaurants everything is alacart (this means that you pay extra for your salad, extra for potato, etc.). The cost per visit amount listed below reflects average cost per visit per person including a tip for the server where applicable.
 
Fast Food
# of Visits
 

x
Cost per visit
$ 6.00

=
Monthly Cost
$
 
x 12 = Yearly
$
 
 
Family Restaurants
# of Visits
 

x
Cost per visit
$ 12.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Pizza
# of Visits
 

x
Cost per visit
$ 15.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Specialty Theme Restaurants
# of Visits
 

x
Cost per visit
$ 20.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Fine Dining
# of Visits
 

x
Cost per visit
$ 45.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Total Yearly Cost of Dining Out
 
=
$
 



  Concerts/ Sporting Event Tickets:
  Help-Concerts: Try Ticketmaster.com to find tickets for concerts, sporting events, theater, etc. The cost per each ticket amount listed below reflects the average cost per visit per person. These dollar amounts were generated from Ticketmaster.com.
 
Concerts (Broadway Play/ Musical)
How Many
 

x
Cost for each
$ 135.00

=
Monthly Cost
$
 
x 12 = Yearly
$
 
 
Concerts (Ballet & Dance)
How Many
 

x
Cost for each
$ 70.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Concerts (Rock Concert)
How Many
 

x
Cost for each
$ 135.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Sporting Events (NFL Tickets)
How Many
 

x
Cost for each
$ 85.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Sporting Events (NBA Tickets)
How Many
 

x
Cost for each
$ 45.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Sporting Events (Pro or semi pro)
How Many
 

x
Cost for each
$ 30.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Sporting Events (College Sports)
How Many
 

x
Cost for each
$ 10.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Sporting Events (High School)
How Many
 

x
Cost for each
$ 5.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Museum Tickets
How Many
 

x
Cost for each
$ 35.00

=
Monthly Cost
$
 
x 12 = Yearly
+
$
 
 
Total Yearly Cost of Concerts or Sporting Event Tickets
 
=
$
 



  Telephone (land line):
  Help-Telephone (land line): If you are in Minot, ND, visit the SRT web page to pick out a phone plan that fits your needs. If you are in another community, visit the web page for your local phone company or call them for a price quote.
 
Total Yearly Telephone Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 



  Cell Phone:
  Help-Cell Phones: The cost for your cell phone varies depending on your plan. Visit one of the following links to choose a cell phone plan: Souris River Telephone, AT&T, alltel, Verizonwireless, or Sprint. Determine the monthly cost, multiply by 12 and write the Total Yearly Cost of the plan in the space provided below. If you know what you are currently paying for your cell phone plan and you are satisfied with the plan, you may write that amount in the space provided below.
 
Total Yearly Cell Phone Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 



  Cable or Satellite TV:
  Help-Cable TV: The cost for basic and expanded cable TV varies depending on your plan. Visit one of the following links to choose your Cable or Satellite TV plan. Determine the monthly cost, multiply by 12 and write the Total Yearly Cost of the plan in the space provided below: Midcontinent Communications, Dish, or Direct TV.
 
Total Yearly Cable or Satellite TV Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 



  Internet Service:
  Help-Internet: Visit SRT Communications or Midcontinent Communications to look at plans for internet access. Determine the monthly cost, multiply by 12 and write the Total Yearly Cost of the plan in the space provided below. You can also visit the High Speed Internet Access Guide to figure your cost. 
 
Total Yearly Internet Service Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 



  Vacation Plan:
  Help-Vacation: Visit Expedia.com to plan your next destination. Then figure out how much you need to save each month for your dream vacation, multiply by 12 and write the Total Yearly Vacation Savings Cost in the space provided below.
 
Total Yearly Vacation Plan Savings Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 



  Health Club Membership:
 

Help-Health Club Membership: Visit one of the links below to determine your Health Club Membership monthly cost, multiply by 12 and write your Total Health Club Membership Yearly Cost in the space provided below.

 
Total Yearly Health Club Membership Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 



  Other:
 
 
Help-Other: Determine any other monthly entertainment cost, multiply by 12 and write the Total Yearly Cost in the space provided below.

 
Total Yearly Other Entertainment Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 



  Other:
 
 
Help-Other: Determine any other monthly entertainment cost, multiply by 12 and write the Total Yearly Cost in the space provided below.

 
Total Yearly Other Entertainment Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 



Total Yearly Cost for Entertainment

Add the total yearly cost from each section above to determine the total yearly cost of Entertainment.


 
Total Yearly Cost of Movie Tickets or Movie Rentals
 
Yearly Cost
$
 
 
Total Yearly Cost of Purchases from Vending Machines
 
Yearly Cost
+
$
 
 
Total Yearly Cost of Dining Out
 
Yearly Cost
+
$
 
 
Total Yearly Cost of Concerts or Sporting Event Tickets
 
Yearly Cost
+
$
 
 
Total Yearly Telephone Cost
 
Yearly Cost
+
$
 
 
Total Yearly Cell Phone Cost
 
Yearly Cost
+
$
 
 
Total Yearly Cable or Satellite TV Cost:
 
Yearly Cost
+
$
 
 
Total Yearly Internet Service Cost:
 
Yearly Cost
+
$
 
 
Total Yearly Vacation Plan Savings Cost:
 
Yearly Cost
+
$
 
 
Total Yearly Health Club Membership Cost
 
Yearly Cost
+
$
 
 
Total Yearly Other Entertainment Cost
 
Yearly Cost
+
$
 
 
Total Yearly Other Entertainment Cost:
 
Yearly Cost
+
$
 
     

Total Yearly Cost for Entertainment
Yearly Cost
=
$
 



6.
  Hair Maintenance:  
   

Help-Hair Maintenance: The cost of a haircut varies depending on where you go. Barbers might charge as little as $10,00 for cut where master cutters could charge $40.00 or more. The price of Perms and color varies as much as cuts. For this exercise it is best to figure your monthly and yearly cost according to the hair maintenance services you require and the cost that you currently pay for these services.

Please determine your monthly average cost for hair maintenance, and multiply by 12 and write your Total Yearly Hair Maintenance Cost in the space provided below.

   
Total Yearly Hair Maintenance Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 




7.
  Health Insurance:   
   

Help-Health Insurance: Sometimes Health Insurance is a benefit at work but most employers do not pay 100% of the cost of a Health Insurance Plan. If you receive this as a benefit, then list the dollar amount that you pay each month for your share of the cost. If you don't have Health Insurance, visit eHealthInsurance.com, to receive your free Health Insurance Quote and write the cost of your monthly premium in the space provided below. Then multiply your monthly cost by 12 and write your Total Yearly Health Insurance Cost in the space provided below.

PLEASE NOTE: Never give out your Social Security Number for a price quote, if you are asked for this, either leave it blank, make up a number, or call your local insurance agent for a quote.

Use the Zip Code Finder to find the zip code you want to use.

   
Total Yearly Health Insurance Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 


8.
  Retirement Savings Plan:
   

Help-Retirement Savings Plan: Visit Bankrate.com Retirement Calculators to determine how much money you need to save each month in order to have enough money for your retirement. It is also a good idea to save a little extra at home for emergencies, for example - the car breaking down, or a sudden unexpected bill. Determine your savings plan and write the Total Yearly Retirement Savings Plan Cost in the space provided below.

Retirement Savings Plan Examples:

Retirement Savings Plan # 1
Initial Amount or beginning Savings: $0
Monthly Deposit: $100.00
Annual Interest Compounded Monthly: 3.5
Number of Years: 40
Final Savings Balance after 40 years: $104,466.69

Retirement Savings Plan # 2
Initial Amount or beginning Savings: $0
Monthly Deposit: $200.00
Annual Interest Compounded Monthly: 3.5
Number of Years: 40
Final Savings Balance after 40 years: $208,933.38

Retirement Savings Plan # 3
Initial Amount or beginning Savings: $0
Monthly Deposit: $500.00
Annual Interest Compounded Monthly: 3.5
Number of Years: 40
Final Savings Balance after 40 years: $522,333.44

   
Total Yearly Retirement Savings Plan Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 


9.
  Student Loan Payments:  
   

Help-Student Loan Payments: Students don't always think about having to pay back student loans until they have graduated from college and find out how expensive their payments will be. It is not uncommon for students to accrue a total debt of $85,000.00 to $100,000.00 or more by the time they finish college. Borrowing $85,000.00 would mean having monthly payments of $978.18 for 10 years or if you want to stretch it out 15 years, your monthly payments would be $754.53. To determine your monthly payments for your future college loans, visit the Student Loan Calculator. After you have determined your monthly cost, multiply by 12 and write your Total Yearly Student Loan Payments Cost in the space provided below.

   
Total Yearly Student Loan Payments Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 


10.
  Credit Card Payments: 
   

Help-Credit Card Payments: The problem with credit cards is that plastic money can miraculously "save the
day" when you "NEED" $ but can also lead to undisciplined spending that can wreck your life through a
quick accumulation of "fat" or high cost debt (this would be high interest on dollars spent). The experts claim that if you charge a $2500.00 credit card to the limit and make just the minimum monthly payment each month, it will take more than one lifetime to pay off the debt.

Credit Cards typically have a minimum payment due each month determined by the total dollar amount of charges on the card. If you have a credit card, take your current monthly and. multiply by 12 to determine yearly cost. Then write your Totally Yearly Credit Card Payments Cost in the space provided below. If you don't have a card, then please educate yourself on financial literacy or educate yourself about credit cards first before you apply for a card.

   
Total Yearly Credit Card Payments Cost
Monthly Cost
$
 
x 12 = Yearly
=
$
 


11.   Other:
 
    Help-Other: Determine any other monthly cost, multiply by 12 and write the Total Yearly Cost for Other Expenses in the space provided below.
   
Total Yearly Cost for Other Expenses
Monthly Cost
$
 
x 12 = Yearly
=
$
 


12.   Other:
 
    Help-Other: Determine any other monthly cost, multiply by 12 and write the Total Yearly Cost for Other Expenses in the space provided below.
   
Total Yearly Cost for Other Expenses
Monthly Cost
$
 
x 12 = Yearly
=
$
 



Copyright © 2005, Steve Beutler, All rights reserved. Permission granted to use for educational purposes. This website is NOT to be used for financial gain.

05-29-14