MONEY MANAGEMENT

Rolando Hernandez

MONEY MANAGEMENT

Its important to know how to manage your money because its all you have. Taking care of
your money and knowing how to spend it increases your savings and helps you live a
better life.

Making a list of each expense in a month helps you to know how much you are spending.

Comparing that list to your income helps you to know if you are spending more money
than you have and its creating a debt, or not.

It is always good to keep track were your money goes so you can earn more or not.

Saving money makes you have extra for any circumstance that maight happen.

TOTAL INCOME

$3500 after taxes each

month

A PLACE TO LIVE
Cost: $950 monthly.
Utilities: included 50/50 split.
Basic (Electricity, Heating, Water, Garbage):
103.6 /2 = $51.8 monthly.
TOTAL HOME EXPENSES PER MONTH: $1001.8
Percentage of total income: 28.62%

Home Expenses

Total Income

% of Home expenses of the total income

29%
71%

A PLACE TO LIVE

I decided to rent because at that point of my life, my future might change fast.

I deicded that this place is good for me because at that point of my life I might be
living alone. I dont need a big place if I am living by myself.

It has a low price and it is well located.

The utilities are splitted, so thats a help for me.

A place to llive and utilities are a need.

TRANSPORTATION
Bus, Skytrain.
Cost: $170 monthly (farecard)
TOTAL TRANSPORTATION EXPENSES PER MONTH: $170
Percentage of total income: 4.85%

Transportation Expenses
5%
95%

% of expenses of
transportation of total income

ENTERTAINMENT
Internet (Internet 30 plan with shaw)
Cost: $35 monthly.

Netflix Standard: $8.99 monthly.

ENTRETAINMENT
Sports and Leisure: CCAC monthly pass: $52.67 monthly.

Restaurants 2 times each month: $30 in total.

Parties and concerts, 1 each month (example):
$45.70 each month.

ENTRETAINMENT
TOTAL ENTRETAINMENT EXPENSES PER MONTH: $172.36
Pecentage of total income: 4.92%

Entretainment Expenses
5%
95%

% of Entretainment of
total income

ENTRETAINMENT

For me, entretainment is a very important part of my life.

I enjoy doing things likke going to concerts, watching movies, navigating on the internet,
etc.

Eating at reatsurants with friends once a month its good and fun.

I think tha it is good for me because I really enjoy and makes me happy.

Netflx helps me to save from cable, plus it has many movies and TV shows.

Internet is a need, and concerts and restaurants are wants for me.

COMMUNICATION (CELL PHONE)

Wind Plan (unlimited data): $35 monthly.
TOTAL COMUNICATION EXPENSES
PER MONTH: $35
Percentage of total income: 1%

Comunication Expenses
1%
99%

% of comunications of total
income

COMMUNICATION (CELL PHONE)

Comunication is basic to keep in contact with people.

Wind has a very good plan that includes unlimited data, that is whay I decided to use
that one.

Comunication (cell phone) is a basic need.

GROCERIES
Walmart online shopping (2 weeks):
$190.56 X 2 = $381.12
TOTAL GROERIES EXPENSES PER MONTH: $381.12
Percentage of total income: 10.88%

Grocery Expenses
% of groceries of total
income

11%
89%

GROCERIES

Grocery is a need because its the essential thing we need for life; food, shampoo, etc.

Walmart has low prices, thats why I did online shopping there.

I also bough things I like .

CLOTHING/GIFTS AND OVER PERSONAL ITEMS

2 gifts per month: $60 for both.
Casual personal Items (clothes, etc): $80
TOTAL CLOTHING/GIFTS EXPENSES: $140
Percentage of total Income: 4%

Clothing/Gifts Expenses
% of clothes and gifts of total
income

4%
96%

CLOTHING/GIFTS AND OVER PERSONAL ITEMS

I decided to put $150 in this category because there is always a birthday of someone,
or if I want to buy some extra clothes.

This category is a want because its is not essential and we can live without it.

EMERGENCY MONEY
For any type of emergency: $150
*If the mony is not used, it will go to savings*
Percentage of total expenses: 4.28%

Emergency Expenses
% of emegency expenses
of total icome

4%

96%

EMERGENCY MONEY

For me its important to have emergency money. There can always be some
circumstances where we need extra money like: medical emergencies, etc.

It is a need because we never know if we will need the money, so its better to be
prepared.

If I do not use the money it will go to my savings.

MONEY INTO SAVINGS

Total savings (minus emergency money):

Total income Total expenses; $3500 - $2049.8 =

$1450.2

Income vs Expenses

41%
59%

Savings
Total expenses

EXPENSES BREAK DOWN

Percentage of each expense category using the price of each.

6.82%; 7%
18.59%; 19%
1.70%; 2%
8.40%; 8%

7.31%; 7%
48.89%; 49%
8.29%; 8%

House expenses
Transportation expenses
Entretainment expenses
Comunication expenses
Grocery expenses
Gifts/Clothing expenses
Emegrency money

WORKS CITED FOR EXPENSES

https://www.shaw.ca/internet/plans/

https://www.walmart.com/cart/

http://www.ae.com/web/browse/product.jsp?productId=2165_8310_647&catId=
cat6890059

http://www.coquitlam.ca/parks-recreation-and-culture/sport-and-recreation/onepass.aspx

https://www.windmobile.ca/plans-and-devices/plans/mobile-plan-details/Mobile-Internet-Pl
an35

https://www.netflix.com/ca/

http://www.translink.ca/

http://www.ticketmaster.ca/Nicki-Minaj-tickets/artist/1432250