I pledge to be drug and alcohol free during red ribbon week

By Earl Simmons,2014-05-16 16:01
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I pledge to be drug and alcohol free during red ribbon week


     Five years from today! You are now 23 or 24 years old. Use current prices!

Required for the budget project:

    1. Completed budget worksheet and budget excel spreadsheet.

    2. Attached research on income/expense items.

    3. Powerpoint presentation containing minimum 9 slides covering all related

    budgeted items and evidence. Folder with hard copies is also optional, but

    must include cover page and summary.

    ? Career/Job

    ? Housing/shelter

    ? Transportation/Auto (including fuel)

    ? Insurance(Health, Automobile, and Renters/Homeowners)

    ? Food

    ? Other expenses (minimum 7)

    ? Investments/Savings/Retirement

    ? Summary (Deletions, cuts, surprises concerning costs)

    ? Attach Budget Spreadsheet

Directions for the Personal Budget Project:

     Include/attach all research downloads in the back of your Budget Sheet

    ? Take the entry-level salary from a Career or Job that you would desire. Use

    the interned to investigate and research as many cost factors that may be

    needed, including clothing and continued education.

    ? Investigate the cost of housing in the area you would like to begin your

    career/job. What are the monthly costs and what other expenses are involved?

    Examples include electricity, water, garbage, laundry, etc.

    ? Research and investigate the cost of transportation. A new or newer car

    would include insurance, and fuel.

    ? From your entry level job, what are the costs for health insurance? This

    should be on your budget sheet but not added into the totals. Insurance costs

    added on your budget include auto and renters/home.

    ? You must choose a minimum of 7 other expenses that we will review in class.

    We will go over the entire budget worksheet together in class to make sure

    these are also added into your budget.

    ? You should set aside anywhere between $20-$100 per month for savings,

    investments, or retirement. You may choose which category to put these

    funds in, and respond to how and why you made your final decisions. ? Summary Slide involves analyzing your budget once completed and assessing

    what cuts needed to be made or how you plan on investing your leftover


    ? You must attach your spreadsheet to the power point and also print out your

    budget. Also attach any research or information that you can not attach to the

    power point to your budget. Make sure you complete before last day of


    Learning Objectives! You will be able to:

    ? Create a personal budget ? Analyze your budget to identify what is gained and what is lost when calculating monthly spending categories. ? Balance your budget on a spreadsheet after making adjustments. ? Research various options for a personal budget and evaluate how incentives affect your behavior and decisions. ? Create a computer-generated spreadsheet and compare budget percentages. ? Effectively describe in a reflective writing assignment how the budget is balanced and what your tradeoffs are. You must share your goals and how you intend to save to reach your goals. Be specific about what cuts you made.


    Select a job that is possible to have for your first "real job” and then research the annual starting

    salary (gross = before tax) for your profession. Visit the website: and take the lower

    end of the salary range (you will be new in the career and will be hired at the entry-level on salary

    schedules because you have no experience!) Print a copy of your salary estimate.

If possible, research benefits given for your job. Do you get medical insurance with your job? Do

    you have medical co-pays? Do you have dental/vision?


    1. Select a new or new used car that you think you would be able to purchase your first year out of high school or college. You must spend at least $10,000 and finance the car.


    or Internet classified ads, visit, or any number of other of resources where

    you can find information on car prices. Know what options you would want: air? Power

    steering? Sunroof? Extended warranty? Etc.

    2) Total cost of car with California sales tax, license, doc fee, (add 11% to price of car.)

    4) Put a minimum down payment. Quite often you get to decide how much down and if

    you have good credit, you can put no down!

    4) Loan Total (You can calculate this by subtracting the down payment from the total

    cost of car.)

    5) Monthly payment, borrowing at 8%. You may get a lower interest rate, but this is the

    national average. You must determine whether you want a four year (48 months) or five

    year (60 months) loan. Naturally, the five-year loan is less but you will pay more

    interest on the loan!

    6) Total payments over the four years, (multiply monthly payment times 48 months.) If

    it’s a 5 year loan, multiply your monthly payment times 60 months.

    7) Total interest paid to finance your car loan. Take the amount financed, compare it to

    the total payments, the difference is interest paid to the bank over 4 or 5 years!

    Purchasing a car! Once you research your car and have the retail price for an automobile, you can calculate your payment and loan information by following #1-7: 1) Write down the price of a car. If you buy a new car, never pay the sticker price, always negotiate from the invoice price or dealer price. Paying 5-8% above invoice is a pretty good deal. 2) Add 11% to the sticker (= roughly 2 1/2% for license and 8 1/4% sales tax) You need to multiply the sticker .11 and then add it to sticker price to get the total cost of the car. 3) Determine your down payment . You may simply put down as much as you want (if you have good credit the bank usually asks for some nominal amount! Make it around $1,000! Or make it an amount that leads to you borrowing a round #. . .) For instance, say you bought a Corolla for $17,556.89, put $2,556.89 down, you will borrow $15,000! 4) Subtract the down from the total cost of the car to figure how much you need to borrow/ finance from a bank. (=Loan Total) 5) Use 8% interest rate on a 48 or 60-month loan to determine your car payment. Dealers will offer lower financing as incentives, most really low interest rates are teaser advertisements = (Only 1.9%, but for one year!) Use the Xeroxed chart on back to calculate a 48 or 60 month loan period to see how much your monthly car payment would be. Look at the bold loan total at 8% APR.

*You may also use the payment calculator on to find your monthly car payment with an 8% interest rate. Click the finance and insurance on the far right purple link! Use your loan total in #4 for the vehicle price (ignore the fields with down payment and sales tax info,) type in you loan total and hit return!) You will still need to do the following steps . . . 6 & 7. 6) Multiply your monthly payment times the length of loan to find out what your total payment will be. (Example: $302 * 60 = $18,120) *You may want to lease your vehicle and compare the two costs. Is leasing or 7) Compare your total payments in #6 to your amount borrowed in the loan total #4 to calculate the amount of total interest paid for the life of the loan. If you borrowed $15,000 and paid $18,120 in total payments. . . you paid $3,120 in interest buying less expensive? What are the advantages of leasing/buying? to the bank! Wow!


     Call an insurance agent or go onto the internet and get a rate for "full"

    coverage for your new car. What kind of comprehensive/bodily/collision coverage

    does the agent suggest that you should purchase? Why? How much deductible and

    why? Make sure you include details such as medical coverage, uninsured motorist,

    rental car costs, etc. Remember you will be 23 or 24 years old, assume that you will

    have a good driving record. Include the internet address or the agent's name, #, the

    company where you got insurance info, and if your premium is every 6 months,

    monthly, or one year. Figure out monthly payment. Include details of the coverage!


1. Select an apartment, condo, or house from newspaper classified ads or the

    Internet. If you are going to live outside of the area, you have a more difficult task

    and a long distance phone call. You must have your own room even if you plan on

    having roommates.

2. Call the landlord - include their name and telephone # and the address of the

    rental unit and the city in which it is located. If you have info from the internet, include the web address. Is it a one bedroom? Two bedroom?

    3. Ask the following questions:

     a) How much is monthly rent?

     b) What is the security deposit? Cleaning deposit?

    Do you need to come up with 1st and last month's rent?

     c) Is a washer and drier in the unit? How much is the coin-op if there is a laundry


     d) Are pets allowed? Is there a pet deposit?

     e) What utilities do you pay? P, G & E? Water, Garbage, Cable?

     f) What is the total move in cost? (this is the total amount of cash that you

    need to move into the unit!) This includes your rent for the 1st month and ALL deposits! ! ! Many landlords ask for the equivalent of two months rent up front. . .

    *This one is important! ! !

     g) Where is parking at the rental?

     h) Do you have to sign a lease? For how long?

    i)Does the landlord run a credit check?

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