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Sample Budget

Sample Budget to help you start preparing:

This sample budget belongs to a single, 35-year-old woman making $68,000 per year, renting a two-bedroom apartment. Her monthly pre-tax income is $5,667.

Monthly expenses:

  • Rent : $1,600
  • Car payment: $225
  • Credit card payments: $200
  • Car insurance: $75
  • Groceries: $400
  • Health insurance/renters insurance: $208
  • Electricity: $40
  • Natural gas: $70
  • Cell phone: $49
  • Home phone + Internet access: $72
  • Cable TV: $50
  • Gas, dining, clothes, dry cleaning, gifts, other expenses: $800
  • Memberships (gym, professional, etc.): $100
  • Water/sewer/garbage: $0
  • Property tax/homeowners insurance/condo fees: $0
  • Alarm company: $0
  • Lawn: $0

Total: $3,889

The sample budget may not look like your expense snapshot, but by adding and subtracting your personal budget items with an eye toward true monthly out-of-pocket totals, you get a pretty good picture. Now, add in all of the expenses where the zeros are as well as the increased cost of your monthly mortgage payment (formerly rent). Maintenance costs like condo fees, utilities, the leaky bathroom sink that defies a simple trip to Home Depot to fix, property taxes, closing costs, and furniture for your new home all add to the bottom line.