Career/Life Project



Career/Life Assignment

Consumer Math 30S

What to hand in:

1. Title page

2. Career Write-up (Part A)

3. Chosen house with calculations for monthly payment and (Part B)

4. Chosen car with calculation for monthly payment (Part C)

5. MPIC monthly car insurance payment printed copies (Part C)

Suggested Steps to Follow:

A. Career:

1. Go to:

2. Click on “I WANT TO BE” tab / Alphabet – select a career choice.

3. Select “AT WORK” from menu at bottom

4. Copy and paste into a word document the section on “What They Do”.

5. Write 2 – 3 sentences commenting on how you feel about this type of work. Is it what you like? Are there parts you will not like? Are you good at these things?

Education:

1. Select “EDUCATION, TRAINING AND EXPERIENCE” from menu at top.

2. Under heading Education and Training, copy and paste the education requirements.

3. Write 1-2 sentences commenting on this.

• Is this a level of education you are willing to pursue?

• Will it be difficult/easy?

• Will it be financial difficult/easy?

4. Under Skills – copy and paste Useful experience/skills – write 1-2 sentences commenting on this.

• Do you have these skills?

• Will you have to practice or work at these skills?

Work Prospects:

1. Under heading “Prospects” – after reading this section, write whether your prospects will be Good, Fair or Limited in 2007.

2. IMPORTANT FACTS tab

3. Under the heading “Expected Earnings”, write a sentence stating the average hourly earnings for a 25-year old in this field. State whether this salary is above or below the national average for all occupations.

4. Calculate the:

• average annual salary (assuming a 40 hour week with 50 weeks)

• average monthly income (divide income by 12)

B. House and Mortgage:

Now start looking for a house and a car that you can afford based on the average income stated for your career choice.

House and Mortgage:

1. Find a house to buy in Manitoba – print off a copy of the house ( mls.ca )

2. For the house, calculate the monthly payment using an “online mortgage calculator”

3. Go to Online Mortgage Calculator and print off the payment schedule for 6.5% over 20 years.

Online mortgage calculators can be found at:

scotiabank.ca

cibc.ca

C. Car & Car Insurance:

• Find a car to buy in Manitoba – print off a copy of the car and its details.

• Use a Canadian site such as autotrader (autotrader.ca)

• Find the total price for your car and calculate the monthly loan payments using 8.0% over 5 years. (in scotiabank.ca – found in Tools and resources) – print the results.

• Print off a copy of the car and show the calculations.

Calculate Car Insurance:

• Go to / English (welcome) / Insurance Rate Calculator (from top menu)

• Select type of vehicle (passenger car or truck)

• Enter in year of vehicle and follow prompts given (do not add immobilizer)

• For question: “Which autopac discount level most accurately reflects your driving record? (based on number of merits you have) – select 25%

• Deductible is how you pay up front if you make an insurance claim. Most people select $100 or $200

-Third party liability is important if you are sued – choose $2 000 000

• If using vehicle everyday to get to work: Choose Auto Loss of Use coverage

• Select 12 pre-authorized payments

• Print off the calculated estimate

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