HOW MUCH IS A GOLD MEDAL WORTH?
When you get down to it, the value of an Olympic gold medal is completely relative. But that doesn't change the fact that gold is a precious medal with a price tag.
So that got us thinking... how much is a gold medal actually worth?
According to the Olympic Charter, each gold medal must contain SIX grams of gold. Right now, the current price of gold is about $26.50 per gram. That works out to about $160 worth of gold.
But gold medals actually contain about 92.5% silver... and right now, silver is worth around $15 per ounce. If you do the math, the value of the silver in a gold medal works out to about $60.
That leaves us with a grand total value of $220.
HOW MUCH SHOULD YOU BE SPENDING?
Expenses vary widely depending on where you live, but these ranges offer smart guidelines to a girl trying to budget her cash...
Housing - 35 to 45% of Net Monthly Income
Auto and Transportation - 15 to 25% of Net Monthly Income
Food - 10 to 20% of Net Monthly Income
Monthly Bills (credit card, cell phone, etc.)- 10 to 20% of Net Monthly Income
Utilities - 8 to 15% of Net Monthly Income
Medical (insurance premiums and prescriptions) - 8 to 15% of Net Monthly Income
Personal (entertainment and haircuts) - 5 to 10% of Net Monthly Income
Savings and Investments - 5 to 10% of Net Monthly Income
Clothing - 3 to 5% of Net Monthly Income