Personal Budget Analysis Paper

955 Words4 Pages
With my personal budget, I chose to focus on where about the actual budget that I have/will have. I have chosen this particular apartment for two reasons. It is a comforting place to be in and it is quite affordable for me. With rent being priced at $585.00, that would leave me with enough cushion to comfortably afford other luxuries as well. Included with the apartment are all of the utilities aside from electrictricity. Now on average electrictricity usually runs about $45.00 depending on a few important things. For an example, during the warmer months I will run the air conditioning which will raise the bill quite a bit. Thankfully the heat is included with the rent as well otherwise I would have a much higher bill for electricity year round.…show more content…
Due to it being a gift, the car is fully paid off so that already helps extremely with not having to make any car payments ever until I decide to get a new vehicle. When I do that, my budget will need to be changed. My mother also pays my car insurance still so that helps as well. Even though my mom helps me out quite a bit, I still have other expenses that need to be paid. For an example, I spend about $150.00 on fuel each month and roughly $50.00 on car repairs/maintenance depending on when I need things such as an oil change. I do not take any public transportation and don’t have any parking to pay for which is nice. Since I do not think this will change, I do not have to budget for any of…show more content…
If I do not have the extra money, then I simply do not go out. When I do have the extra money, I tend to spend roughly $100.00 eating out and $20.00 on events/show tickets. Another thing to worry about is budgeting for a child. When I have a child, I have close friends and family who would be able to provide my childcare for free. Other things I would be spending are supplies (school supplies included) at roughly $100.00 each month. If it was a good month, then I would have more cushion to spend more on whatever it may be. Other things such as travel, gifts, and donations would really depend on the month once again. I never spend the same exact amount each month, so I can never really predict what exactly I will be able to do. Even though it will never be the same, I would budget for $100.00 on travel, gifts, donations, dues, and other things. By doing this, I would have at least something for sure each month to be able to
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