Quia



2015 Budget Simulation

Name:____________________________________________

Yearly Gross Salary: ____________________

Yearly Net Salary: ___________________

Budget Simulation—Total Monthly Budget

Gross Salary (monthly)[yearly divided by 13]: ______________

Net Income (monthly): [yearly divided by 13] ______________

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Rent: ______________

Utilities: ______________

Renter’s Insurance: ____________

Car Payment: ______________

Car Insurance: ______________

Gas: ______________

Cell Phone: ______________

Internet: ______________

Cable: ______________

Groceries: ______________

Student Loans: ______________

Furniture: ______________

Entertainment: ______________

Personal Expenses (i.e. haircuts, make-up, etc.): ______________

Clothing: ______________

Vacation Fund: ______________

Misc.: ______________

Savings: ______________

Total monthly expenses: ______________

Surplus or Shortage: ______________

Budget Simulation—Job and Housing

Name:

Occupation: Gross Monthly Salary:

Find your tax bracket: (based on gross yearly income)

Tax Bracket Married Filing Jointly Single

10% $0 – $18,450 $0 – $9,225

15% $18,451 – $74,900 $9,226 – $37,450

25% $74,901 – $151,200 $37,451 – $90,750

28% $151,201 – $230,450 $90,751 – $189,300

33% $230,451– $411,500 $189,301 – $411,500

35% $411,501 - $464,850 $411,501 - $413,200

39.6% Over $464,850 Over $413,201

Calculate how much you will owe for the year and divide by 13. ____________________

For FICA, & Medicare Payroll tax take out 7.65% from your gross monthly salary. __________________

Net Monthly Salary: _______________

Housing should NOT exceed 30% of your net income.

Rentals will NOT include any utilities unless otherwise specifically stated.

Address: ________________________________________________________________________

# of bedrooms/bathrooms: _________________

House or apartment: _________________

(1) Monthly rent: _______________

Move In Fees (First/last/security deposit/pet fees): _______________________

(2) Maintenance/facilities fees: __________________

(3) Renter’s Insurance: $25

(4) Utilities: _______ (apartment) or ________ (house) Highlight one

(5) Cable: __________________

(6) Internet: ___________________

Total Monthly Housing Expenses: ___________________

Budget Simulation—Housing and Furniture

Remember, you began the project with $5,000. After paying your move-in fees how much do you have left? __________________

At this time you need to furnish your new home. You may take whatever furniture is specifically yours. You must buy the rest. It is up to you whether you buy used or new. If you want you may finance new furniture purchases.

List all the furniture you have bought for your new home, including the price paid and from where you bought it (whether new or used). If you used Craigslist or something similar, provide a link.

List items needed to complete your home, including the price paid and where you bought them. Include items such as towels, mats, shower curtains, toasters, microwaves, pots/pans, trash cans, utensils, dishes, etc.

Total Spent on Furniture at this time: ________________________

Total Spent on all other items: ____________________

Total amount financed: _______________________

Length of time financed: _____________________

Interest Rate: ___________________

Monthly Furniture Payment: ______________________

Budget Simulation—Transportation

Vehicle: Make, model, year:

MSRP: _____________________ Invoice: ___________

Monthly Payment (Calculate 20% down, 48 months @6% APR): ______________

OR

You may keep your current car. (If there are payments left on it, you will be making those payments, regardless of who is currently making those payments in real life.) Make, model, year:

Monthly maintenance (used car only): $75

Estimated Car Insurance: ________________

Monthly Gas expenses: _________________

To calculate gas:

a. Base your estimate on driving 1,000 miles a month.

b. Miles Per Gallon: ______________

c. a/b=d

d. Total gallons needed per month: __________________

e. Multiply by $3.00/gallon: ____________________

Total Monthly Auto Expenses: _______________

Budget Simulation—Grocery List

Make a shopping list and budget your grocery expenses for the month. In addition to food don’t forget necessities like napkins, paper towels, cleaning products, bathroom accessories, etc.

Separate items like soap, shampoo, deodorant, etc., that don’t need to be bought every week from items that will be purchased more frequently.

Weekly shopping trip: _________________

Monthly budget for groceries: ______________________

Budget Simulation—Other Expenses

Student Loans

Total amount borrowed: ______________

Interest rate: 6.8%

Total Payments (you may pay for anywhere from 5-30 years): ______________

Monthly Payment: _______________

Cable

Company/Cable Package: __________________________________________________________

Amount paid up front: ________________

Total Monthly Payments including fees: ________________

Internet

Internet provider/plan: ____________________________________________________________

Amount paid up front/installation: _______________________________________________

Total Monthly Payments including fees: ______________

Cell Phone

Cell provider/plan: _________________________________________________________

Amount paid up front: ________________

Total Monthly Payments including fees: ________________

Other (Entertainment, shopping, restaurants, etc.)

Career

This section of the project requires you to do research using the Internet.

Pick a major you are considering. Complete the following tasks:

1. Compile a list of jobs/careers you will qualify for with your major. (Your real life major)

2. Find the average salaries (including average starting salary!) for at least 3 careers from your major. (Be sure to note whether they tell you mean or median)

3. Find the projected career outlook (as in demand for that career) for the careers you’re considering.

4. Use a job-finding website like or and search for jobs in your field that require NO EXPERIENCE. Briefly share the results of your searches, IE, how successful were you; what starting salaries were you finding; was it easy or difficult to find jobs with no experience?



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