Essay
unit 31 assignment 3
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Essay of 4 pages for the course Unit 31 - Effective Management of Personal Debt at PEARSON (distinction)
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Seema Personal Budget Template TASK 1AJanuary
£
Step 1 Income Section [A]
Details 'Money In' e.g. from wages/salaries from paid
employment to help pay bills and enjoy life
Salary £1,533
Sub-Total £1,533
Expenses "Money Out" [B to E]
If only life were free! Sadly, we all have living expenses
which are bills we must pay, these can be broken down
into categories as per the below
Living Costs [B]
The cost of living is the amount of money needed to
cover basic expenses such as housing and food
Step 2 Grocery/Food £0
Rent £240
Council Tax £0
TV Licence £0
Broadband - TV, Phone, Internet £0
Utilities - Gas & Electricity £0
Utilities - Water £0
Sub-Total £240 16%
Healthcare Costs [C]
The cost of basic Health and Personal Care related
Costs
Step 3 Opticians - Contact Lens Subscription £25
Optician Check Up - May
Dentist Check Up - December
Sub-Total £25 2%
Transport Costs [D]
The cost of getting from A to B
Step 4 Train Pass £63
Sub-Total £63 4%
Descressionary Costs [E]
The cost of having the 'nicer' things in life as little
luxuries
Step 5 Mobile Phone - Handset, Tariff for Talk, text, data £55
Gym £70
Socialising £250
Sub-Total £375 24%
Step 6 Grand Total Expenses [F] £703
[B+C+D+E]
Step 7 Typical Net Cashflow [A-F] £830 54%
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