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Having enough money for all the stuff we want is a major part of our lives. As you plan for college or entering the workforce, a sound budget can help you get where you want to go financially.

Use the example budget below to figure out your own personal budget. In the example budget the monthly income is based on the national median weekly earnings in 2010 for someone without a high school diploma of $444 (Multiplied by 4 to come up with a monthly amount). The monthly expenses are based on average costs in the Albuquerque Area for a single person. Your specific expenses would be based on choices you make such as clipping grocery coupons and eating at home or choosing to eat fast food all the time.

Monthly Income $1,776.00
Monthly Expenses
Rent:-565.00
Utilities: water, gas, electric-114.00
Communication: Cell, phone, internet, cable-240.00
Food: groceries, eating out-250.00
Transportation: gasoline, bus, train, taxi, etc.-95.00
Clothes:-75.00
Personal: haircuts, makeup, etc.-40.00
Medical: office visits doctor and dentist-50.00
Insurance: -125.00
Loans: credit cards, car payments-225.00
Entertainment:-60.00
Savings:-10.00
Balance-73.00