4th Marking Period Project: Section 1



4th Marking Period Project: Section 1

~ The first part of your portfolio that you should begin working on is a page

that identifies several things: (You Must Include Your Resume As Well)

✓ What career will you have?

✓ What will your annual salary be? (how

much will you get paid “gross”…before taxes, per year, per month, & per week?)

✓ What type of higher education will be

required to obtain this career and how much will this education cost you?

4th Marking Period Project: Section 2

~ The second part of your portfolio that you should begin working on is a page

that identifies several things:

✓ Restate your biweekly gross pay.

✓ How much money will be taken out of your paycheck each week or biweekly if that’s the pay system, for taxes? Make sure you list all types of taxes, state, local, federal etc. provide the dollar amount taken out for each tax.

✓ How much money will be taken out of your paycheck biweekly if that’s the pay system, for insurance, healthcare, Medicare, retirement, investments? Provide the dollar amount of reach deduction if the deduction will likely be directly taken out of your paycheck.

✓ List your final “net” pay after all of this is taken out of your paycheck.

4th Marking Period Project: Section 3

~ The third part of your portfolio that you should begin working on is a page

that identifies several things:

✓ State what city you plan to live in (estimate to the nearest city available on the website)



✓ What is the increase or decrease in the cost

of living % to maintain your standard of living? Put Williamsport as the city you’re moving from and the city you chose for the first part of this section of the project as the city you are moving to.

✓ What type of living situation will you have: buy a house, rent a house, rent an apartment? Regardless of your selection, explain what size house or apartment in order to get a better estimate of its cost.

✓ How much will the total cost of the house be if you are buying? How much will your monthly mortgage be? Use ’s mortgage calculator to figure this out. (Or use any mortgage calculator…just Google “mortgage calculator” and complete the required information.)

✓ How much will monthly rent be if you rent a house or apartment?

✓ How much will your housing cost you per year?

4th Marking Period Project: Section 4

~ The fourth part of your portfolio that you should begin working on is a page

that identifies several things:

~ Restate your net income per week, biweekly, month, & year

~ How much money will be devoted to your additional wants & needs? (the list you made

In class)

~ How much money will be spent on food, car/transportation, school loans, hygiene, internet,

cable, pets, cleaning supplies, electric/heat/water/sewage etc, insurances, entertainment,

habits, hobbies, and much, much, much, much more!

~ List all of your expenses and estimate how much each item will cost you per month and per

year! Don’t skimp, but include everything you can think of

Unlike in the past where each of this sections were completed weekly in a large-scale portfolio project, your project will be presented as a condensed spreadsheet overview of your future possibilities. YOU NEED TO TURN IN THE COMPLETED FORM BELOW ALONG WITH AN INTRO AND CONCLUSION ON YOUR FUTURE POSSIBILITIES.

NAME:

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JOB TITLE:

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EDUCATION REQUIRED TO THAT SPECIFIC JOB:

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TOTAL COST OF EDUCATION:

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AMOUNT IN STUDENT LOANS TO BE PAID BACK UPON COMPLETION OF EDUCATION WITH ANTICIPATED INTEREST RATE (INCLUDE MONTHLY PAYMENTS WITH INTEREST):

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GROSS SALARY OF CAREER (LIST ANNUAL, MONTHLY, WEEKLY)

|Annual | |

|Monthly | |

|Weekly | |

LIST OF TAXES BY TITLE, PERCENT AND MONETARY VALUE WHEN APPLIED: (ANNUAL AND WEEKLY):

|TAX NAME & PERCENT |DOLLAR AMOUNT IN TAXES T.B.P. |

|Federal Income (include your tax bracket, % and $ amount) | |

| | |

|Federal Social Security (6.2% if employed, 12.4% is | |

|self-employed) | |

|Federal Medicare (1.45% if employed, 2.9% if self-employed)) | |

|State income (3.07%) | |

|Local (1.5%) | |

|Unemployment ($52) | |

|TOTALS IN TAXES: _________________% | |

NET SALARY AFTER TAXES (LIST ANNUAL, MONTHLY, WEEKLY)

|Annual | |

|Monthly | |

|Weekly | |

IDENTIFY WHERE YOU PLAN TO LIVE INCLUDING CITY AND HOUSING:

➢ EXPRESS THE COST OF LIVING SHIFT AND WHAT THE CHANGE IN SALARY WOULD NEED TO BE IN ORDER TO RETAIN THE SAME STANDARD OF LIVING IN WILLIAMSPORT, PA.

➢ PROVIDE DETAILS OF THE HOUSING YOU PLAN TO LIVE IN INCLUDING AREA OF THE DWELLING, LIST PRICE, MORTGAGE INTEREST RATE, TERM OF LOAN, MONTHLY PAYMENTS & TOTAL COST OF LOAN AFTER INTEREST AND TERM HAVE MATURED.

|Future Town |Type of Housing |Total Costs |

|Name of City: |Rent w/ details |Annual |

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|Change in Cost of Living: |Mortgage w/ details |After interest and term maturity |

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|/costofliving.html | | |

EXPENSES:

➢ TOTAL SPENT ON UTILITIES PER MONTH/YEAR (LIST EACH UTILITY)

➢ TOTAL SPENT ON FOOD PER MONTH/YEAR

➢ TOTAL SPENT ON CLOTHING PER MONTH/YEAR

➢ TOTAL SPENT ON TRANSPORTATION INCLUDING CAR PAYMENTS, MAINTENANCE, INSURANCE, INSPECTION, REGISTRATION AND MORE PER MONTH AND YEAR

➢ TOTAL SPENT ON ENTERTAINMENT AND HABITS PER MONTH/YEAR

➢ TOTAL SPENT ON HOUSEHOLD NEEDS BEYOND FOOD AND UTILITIES

➢ TOTAL SPENT ON VACATION PER YEAR

➢ COMBINED TOTAL OF ALL OF THE ABOVE

|Item(s)/Expenses |Amount |

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FINAL EVALUATION: ADD UP ALL OF YOUR EXPENSES INCLUDING LOANS OF ALL SORTS AND SUBTRACT THAT FROM YOUR ANNUAL, MONTHLY AND WEEKLY INCOMES TO DETERMINE YOUR ECONOMIC FUTURE.

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CONCLUSION: BASED ON THE RESULTS, ARE YOU IN DEBT, EVEN OR IN SURPLUS. IN ANY CASE EXPLAIN HOW YOU MIGHT TAKE ADVANTAGE AND/OR ALTER YOUR LIVING TO BRING ABOUT GREATER FISCAL RESULTS.

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