Consumer Economics



Consumer Economics

Budget Project

2010

The goal of this project is to complete a budget based on projected income and expenses as an adult. The scenario, which you must follow, is to create a budget based on the point at which you become an independent adult (upon graduation from college, training, or release from the military.) All other scenarios, which deviate from this, must be pre-approved by the instructor. The budget must be REALISTIC based on your research of costs.

You must include:

1. An apartment in a location in which you wish to reside (in the U.S.) You may not choose homeownership at this point. You may have a roommate if you wish.

2. A car loan. You must purchase a used car upon graduation. Find a used car and calculate the loan payments, insurance and other expenses.

3. Research the salary and training required of your chosen profession. Estimate what your debt will be upon graduation. Most colleges have scenarios available on their websites. Estimate college loan (military exception) Use or similar calculator at current student loan interest rates to determine payment.

4. Create a savings plan to cover 3 to 6 months expenses.

5. Create a spreadsheet using Excel which shows that you have allocated all of your expenses (including savings).

6. A written explanation/narrative as to your career, lifestyle and financial goals and how you came to select each and every budget amount on your spreadsheet.

7. All sources will be properly cited including any used graphics

8. The final product will include the spreadsheet, narrative, sources, etc. in an attractive presentation of information—examples: Report, brochure, PowerPoint, class presentation

Standards—Grading will be based on the following.

1. Use of Class Time – 10 Points

Use all class time for research and instruction. Do not distract others. Keep the cell phones put away!!

2. Required Elements (see all above) – 50 points

3. Proper citations – 10 points

4. Knowledge gained - Student can accurately answer all questions related to the budget and processes used to create the project. Budget is realistic. Demonstrates excellent effort in research. – 30 points

................
................

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

Google Online Preview   Download