Tuesday, December 15, 2015

Tuesday 12-15-15

Budgeting Activity - How Much Will It Cost Me When I Grow Up?

1.  Select an occupation that you are interested in.
   - Determine what the starting salary would be.
   - Find out what tax bracket you will be in using this link.
   - Deduct the appropriate amount to come up with you final total.

2. Select where you would like to live.
   - How does the cost of living compare to where you live now?
   - Use the Cost of Living Calculator to determine the difference in costs.

3.  Complete a Budget worksheet with the following information:

Net Income (After Taxes)

Fixed Expenses:
Housing
Car Payment
Car Insurance
Health Insurance
Electricity
Water
TV
Internet
Cell Phone

Variable Expenses:
Gas
Food
Entertainment
Personal Shopping
Occasional Spending (Gifts, Repairs, etc.)

Savings:  If you have any money left

Conclusion:  Write a paragraph summary of what you have learned while completing this activity.