Semiross.weebly.com



Name __________________ 1 3 5 7Transportation Budgeting ActivityWhen it comes to transportation, there are several options. For the purpose of this assignment, you will investigate the costs of using public transit versus driving your own vehicle. Step 1: Public TransportationVisit to find out what the monthly cost of using public transit is. For this activity you are pretending you are no longer in high school, so be sure that you are looking at the cost for an adult and not a student.Write down the monthly cost in the table below. The transit system in the lower mainland has historically been divided into three zones. Find out the cost of a pass that can be used in one, two, and three zones.1 Zone Pass2 Zone Pass3 Zone PassLook at the map of Greater Vancouver on the transit website. Find the neighbourhood that you are likely to live in during your first year out of high school. Fill in the chart below based on the transit accessibility of your neighbourhood.Is there a Skytrain line in your neighbourhood?Do buses run in your neighbourhood?Are there bus connections to the Skytrain?Based on this information, does transit appear to be a feasible option for you? Explain your answer.___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________Step 2: Your Own VehicleNow that you have looked up the cost of public transit, you need to research the cost of owning and operating a vehicle.Select a car that you could realistically own as someone starting just out of high school. For the purpose of this assignment, this is not a vehicle that someone else has bought for you; it is one that you could afford to purchase with your own savings and/or income.The vehicle I have chosen is (include make, model, and year):My selected vehicle costs: $For this assignment, we are going to assume you need a car loan to purchase the car. To determine your monthly car loan payment, use the calculator at . For Term, select 24 months. Record below the monthly total payment you will be responsible for.My estimated monthly car loan payment cost is:Next you must determine the monthly cost of insurance. In reality, the cost of insurance has many variables. It can depend on your vehicle, your age, your sex, your driving record, and custom details that have been added to your vehicle.For this assignment, use to get an estimated cost of your insurance. Set the Liability Limit to $2,800,000; the Collision Deductible to $1,000; and the Comprehensive Deductible to $1,000. Then divide the calculated premium by 12 in order to get the monthly cost of insurance.My estimated monthly insurance cost is:Now that you have insured your vehicle, you need to consider the cost of purchasing gas.Look at the table below. Find the category that your vehicle fits into and calculate the estimated cost of filling up the gas tank.VehicleAverage gas tank capacity (in litres)Cost to fill up on gas @ $1.15 per litre2 door hatchback404 door sedan55SUV70Small truck96Larger Truck130Assuming that one tank of gas will last you about two weeks, fill in the table below.Cost of filling gas tank once:Multiply by 2:Total monthly cost:Now calculate the total cost of operating your vehicle every month. Be sure to budget $50 monthly for miscellaneous costs such as oil changes, vehicle maintenance, basic repairs, and membership to BCAA (British Columbia Automobile Association). Note: this is a very minimal allowance! In reality, maintaining a vehicle costs a lot more than this. Fill in the table below by listing all of the expenses, and then provide a monthly total.ItemCostCar loan repayment$Insurance$Gas$Maintenance$50Monthly total:$Step 3: ReflectionBased on research you have just done, which of these two options do you plan on using - not necessarily in your actual future but for the purposes of this budgeting activity? Explain your choice. What factors did you consider in making your decision?______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download