3.8.1. Take-home pay, savings and housing
Input your annual take-home pay from the Income and Taxes portion of the project in the AFTERTAX
INCOME cell of the worksheet on the My Budget Summary tab. If you had errors in your income
tax calculations, be sure to address these first so that you will have the correct take-home pay amount.
Put 5 percent of your after-tax income in the SAVINGS cell. You can adjust this up or down later depending
on how the rest of your budget develops. If it is important for you to save more, keep that in
mind when making choices for the rest of your budget items.
Using the suggestions in Section 3.3.1 above, locate an apartment in the city in which you assumed
you would live in the Income and Taxes portion of the project.