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A Glance at Planning the Rest of
Your Life
Budget Balance Worksheet
Name: _____________________
Your new career is ____________________________________________________________
Your yearly gross salary is ______________________________________________________
1. Calculate your montly gross salary (gross salary / 12) ______________________________
2. 1/3 of your gross salary is generally used to pay for Social Security and Federal and State taxes. These are automatically deducted. How much of your gross salary will be taken out? ____________________________________________________________________________
3. Calculate your monthly deductions by dviding answer in question 2 by 12. _____________
4. What is your montly net salary after deductions? (answer from question 2 subracted from question 1 ___________________________________________________________________
5. Your employer will automatically take out deductions for your health insurance. Your health insurance is ______________. Subract this amount from your net salary from question 4. What is the difference between your net salary per month and your gross salary per month? ___________________________________________________________________________
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