Embedded Files
In today's activity you will:
In today's activity you will:
- Analyze the cost of health insurance
- Budget for health related expenses
Materials needed:
Materials needed:
- Salary Based Budgeting Worksheet, Steps 22-28
- Journal Entry Page 5
Step 22-23-24
Step 22-23-24
Calculate the cost of your insurance and enter these amounts on your Salary Based Budget Worksheet:
Calculate the cost of your insurance and enter these amounts on your Salary Based Budget Worksheet:
Health Insurance - $440/month
Health Insurance - $440/month
Dental Insurance - $30/month
Dental Insurance - $30/month
Vision Insurance - $18/month
Vision Insurance - $18/month
Step 25
Step 25
Enter the cost of your haircut on Step 25 of your Salary Based Budget Worksheet:
Enter the cost of your haircut on Step 25 of your Salary Based Budget Worksheet:
If you already know how much you pay for a haircut / hair appointment, enter it. If you’re not sure, use the US averages:
If you already know how much you pay for a haircut / hair appointment, enter it. If you’re not sure, use the US averages:
Men $28 Women $44
Men $28 Women $44
**If you only get a haircut / hair appointment every 3 months, divide the cost by 3.
**If you only get a haircut / hair appointment every 3 months, divide the cost by 3.
Step 26
Step 26
Other Grooming/Hygiene
Other Grooming/Hygiene
Everyone’s different, but let’s assume $25/mo for other hygiene, medication, grooming, or personal needs.
Everyone’s different, but let’s assume $25/mo for other hygiene, medication, grooming, or personal needs.
Enter this amount on Step 26 of your Salary Based Budget Worksheet.
Enter this amount on Step 26 of your Salary Based Budget Worksheet.
Step 27
Step 27
Gym Membership
Gym Membership
Remember, the first step to wealth is health!
Remember, the first step to wealth is health!
If you don’t workout, or you do it free outside or at home, $0.
If you don’t workout, or you do it free outside or at home, $0.
Otherwise, assume $58/mo for a gym membership.
Otherwise, assume $58/mo for a gym membership.
Enter your selection on Step 27 of your Salary Based Budget Worksheet.
Enter your selection on Step 27 of your Salary Based Budget Worksheet.
Step 28
Step 28
Calculate your total monthly budget for health, and enter that number on Step 28 of your Salary Based Budget Worksheet.
Calculate your total monthly budget for health, and enter that number on Step 28 of your Salary Based Budget Worksheet.
Cost of Health = Health Insurance + Dental Insurance + Vision Insurance + Haircuts + Other Grooming/Hygiene + Gym Membership
Cost of Health = Health Insurance + Dental Insurance + Vision Insurance + Haircuts + Other Grooming/Hygiene + Gym Membership
JOURNAL
JOURNAL
Phenomenal work! You will live a long and healthy life! Here is your journal reflection topic for this lesson:
Phenomenal work! You will live a long and healthy life! Here is your journal reflection topic for this lesson:
When you look at all your overall spending, which categories did you spend the most and least on? Does this surprise you? Why?
When you look at all your overall spending, which categories did you spend the most and least on? Does this surprise you? Why?
Recording Information
Recording Information
Due to the historic winter storm, and the resulting power outages and internet disruptions, the content from this week's session has been combined with Week 6. Please view the Week 6 webinar recording at the bottom of the tabbed page for instructions on completing Steps 22-28.
Due to the historic winter storm, and the resulting power outages and internet disruptions, the content from this week's session has been combined with Week 6. Please view the Week 6 webinar recording at the bottom of the tabbed page for instructions on completing Steps 22-28.
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