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] ______________
----------------------------------------------------
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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