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3419475000College and Career Budgeting Project (optional extra credit assignment)Due: May 22, 2020Objective:The Budget Project is designed to assist students in considering their financial future. The project consists of various “real world” situations/decisions one will be faced with once entering the workforce. The student will create a budget that demonstrates what they feel is the best use of their income based on their job selection. Many of the activities require the student to research information to get information. You are required to show evidence of your research by creating a works cited page! This may include online sources, newspaper clippings, bill receipts, apartment applications, utility estimates, etc. WARNING: Do not use your social security number on any forms/applications. When asked, make up a fake number.Basic Format:Everything should be put into PowerPoint for each item listed below. This makes sharing of the document upon completionThere should be a Title Page that lists the student’s name, name of school, class, class period, school year, and date turned in to your teacher.Works cited page required for citations (use Easy Bib)Basic Requirements:You have to buy or lease a car for transportation and you have to insure the car with full coverageYou have to pick a career and use the STARTING salary as your yearly salaryYou have to live in an apartment or studio apartment or rent a room. You may have a roommateYou have to have a credit card for purchasesYou have to grocery shop for TWO weeks and provide an itemized list of what you bought and how much it cost. Create a shopping list on Instacart or Safeway.You must create a budget sheet10382259526Final project should be in this order:Title pageBudget SpreadsheetHousing advertisementGrocery List for 2 weeksCar advertisementCell Phone Plan QuoteComputer, vacuum, appliances, and TV purchase (use the credit card if needed!)Works Cited page00Final project should be in this order:Title pageBudget SpreadsheetHousing advertisementGrocery List for 2 weeksCar advertisementCell Phone Plan QuoteComputer, vacuum, appliances, and TV purchase (use the credit card if needed!)Works Cited pageName______________________ Career Choice_________________________Your monthly pay is $____________ Yearly pay is $____________43738802931795You will type this for the final draft. I would use Excel or create a chart in Word and then import this into Power Point.4000020000You will type this for the final draft. I would use Excel or create a chart in Word and then import this into Power Point.ExpenseMonthlyYearly (M x 12)CarMaintenancePaymentsGasRentTuition & TextbooksEntertainmentMedical ExpensesClothingPets (optional)UtilitiesElectricGasBillsPhoneInternetGiftsCharitable ContributionsFoodCredit CardAppliancesRetirementInsuranceHealthCarRentersCollege LoansTotals:Suggested Guidelines-Price it out and see for yourself!Car:? Must be year 2010 or newer and under 50,000 miles.? Divide total by 60 (5 yr loan) for monthly total. (Must Have an advertisement for the car!)Maintenance:? 2010-2015:? $150 a month?? 2016 or newer:? $50 a monthGas:? $45 a week (x 4 weeks) for a small car and $75 a week for a mid-size or largerRent. Find an Ad with any extra’s and security deposits highlighted. Utilities:? If not included in apartment you should call number for estimate on ad or talk to parents or check web. Get a copy of your parents PG &E bill to see what they pay!Tuition/Textbooks:? This is for continuing education if you are going to college. $100 a month in state or $250 a month if you are going out of state. Entertainment:? At least $200 a month if you plan to go out weekly or $100 a week if only 2x a month.Medical Expenses:? $100 a month Clothing:? Yearly expense, Men:? $1000-2000 minimum a year.? Women:? $2000-2500 minimum a year. (Remember 1st year professional clothes like suits dresses, etc... plus going out and casual wear.)Pets:? Up to you if you want it. $50 a month per petBills:? Cell Phone: If you want a cell phone you must provide a printout for a single person plan, not the family plan you are presently on. Price it outCredit Card: If you have to purchase something and you don’t have enough money, plan on $100 a month to cover the payment for your bill. Cable:? $125 basic, $150 Premium, $200 everythingHigh Speed Internet: $50 Gifts:? At least 2 per month at $30 eachFood total:? At least $200 every two weeks multiply by 2 for monthly. Create and Print a list for your first shopping trip – be sure to include the basics you will need for your 1st apartment.Appliances:? Buy a TV, Computer, and a Vacuum. (Need an ad or printout for each)Retirement:? $100 a monthHealth Insurance:? $100 a month (price it out-it’s probably more!)Car Insurance: Price it out based on what car you buy and what coverage you must have. A brand-new car will require full coverage!Renters Insurance: Price it outCharitable Contributions: If you currently give, then add 8-10% of your monthly here.College Loans:? $200 a month (this is very low!)? (Unless you have Grants or a Scholarship right now.)? One Page ReflectionWrite a one page, double spaced, 12 font, and typed summary with 1-inch margins that includes:Your job and your pay both monthly and weekly Your yearly money goals for savings.Your living arrangements - Tell me about your apartmentYour traveling arrangements - Tell me about your carYour overall opinion of the project-What was challenging for you? What did you discover by doing this project? How will you set up your own budget now and after you graduate? What financial lessons did you learn doing this project?Discuss problems you encountered RESOURCESWWW.Go to a search engine like Google, , , etc and type in “Interest Rate Calculator.” There you will find a number of sites that assist in calculating interest rates for your loans. Listed below there are a few websites that may provide some general financial help in setting up a budget and tips for saving money:Reader’s Digest Living (Money) Dave Ramsey Financial Ministries Central (from ) The Clark Howard Show Personal Budgeting Tips ................
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