Building Olivia's Budget
Olivia is a high school senior who is planning to go to college in the fall. She’s on the girls’ varsity softball team and during her off-season, she loves coaching local kids as a side business. She charges $15 per hour for hitting lessons, which she does every weekday for two hours (assume 20 weekdays in a month). She also works part time at the ice cream shop for 15 hours a week at $11 per hour. Twenty percent of her paycheck goes toward taxes. This month is her birthday, and her grandparents always give her $100 for her birthday.

She gives $150 every month to her local humane society.

Olivia has a $500 emergency fund and paid for her car with cash. Her car is a little older, so she always saves $100 per month in a sinking fund in case she needs to make repairs. She’s also saving for college. She will be going off to college in five months and estimates that she will need $3,000 for the fall semester tuition.

Olivia is responsible for her auto insurance and gas, which are $100 each per month. Her best friend’s birthday is coming up, and she’d like to spend $50 on a gift.

Olivia always makes sure to have a miscellaneous line item in her budget so she has money for last-minute expenses that she didn’t plan for.

Income
Item 1
$0
Item 2
$0
Item 3
$0
Total Income
$0

Giving
Item 1
$0

Saving
Item 1
$0
Item 2
$0
Item 3
$0

Spending
Item 1
$0
Item 2
$0
Item 3
$0
Item 4
$0
Item 5
$0
Total Expenses
$0
Create a Zero-Based budget!