Ivan+Laguna+Garcia

=Picture PracticeBudget Table= (Note: You can only view the spreadsheet here. You must enter data from your actual Google Doc spreadsheet.) media type="custom" key="23110530" align="left"

=Getting a Job=

== = = == =Taxes=


 * ~ Name of Tax ||~  ||~ Calculation of tax for the year (provide a complete formula for each tax's calculation) ||~   ||~ **Dollar amount of tax** ||~   ||~   ||~   ||
 * < **Social Security** ||  ||< 28000 x .062 ||   || 1,736 ||<   ||
 * < **Medicare** ||<  ||< 28000x ,0145 ||   || 406 ||
 * < **Federal income tax** ||<  ||<   ||   || 3786 ||
 * < **PA income tax** ||<  ||< 28000 x .037 ||   || 1,036 ||
 * <  ||<   ||> **Total for //year//:** ||   || 6,964 ||
 * ||  || **Total for //each month//:** ||   || 580.33 ||

Next step: Retirement and Emergency Savings = = =Retirement Savings=


 * ||= **Dollar amount or rate** * ||
 * **__//Gross//__ //__monthly__// income -** || 2333 ||
 * **Retirement savings rate (as a percentage)** || 10% ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** * || 233 ||
 * **Calculate how much money you will have at retirement at age 70 if you invest your budgeted amount at __ 6% __ yield. Use the compound interest spreadsheet calculator to do this. Assume your starting age is 22. You will need to calculate your annual contribution (principal) by multiplying your monthly retirement savings (above) by 12.** || 808,000 ||
 * **Calculate how much money you will have at retirement at age 70 if you invest your budgeted amount at __8%__ yield. Use the compound interest spreadsheet calculator to do this. Assume your starting age is 22. You will need to calculate your annual contribution (principal) by multiplying your monthly retirement savings (above) by 12.** || 1,600,000 ||
 * **Respond to these questions in a few well written sentences:**
 * **Why did you select the retirement savings rate that you did? because i will have money enough for any emergency**
 * **What are the opportunity costs for your choice?** use it to buy clothes shoes or buy a ca parts ||
 * **Why did you select the retirement savings rate that you did? because i will have money enough for any emergency**
 * **What are the opportunity costs for your choice?** use it to buy clothes shoes or buy a ca parts ||

=Housing= 1 bathroom ||  ||
 * Issue || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * || $550 ||  ||
 * Monthly rent for your apartment/house: || $525 ||  ||
 * Location || King of Prussia, PA ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || Estudio
 * Selling features (What makes this a great apartment?) ||  ||   ||
 * Possible downsides || no ||  ||
 * Parking ||  ||   ||
 * Included utilities || Water, Electric ,Heat ||  ||   ||
 * Security deposit requirement || yes ||  ||
 * Restrictions on pets? || yes ||  ||
 * Length of lease || 1 year ||

=Transportation=



=Insurance=
 * **Expense** || **Calculation** || **Dollar cost** ||
 * **Payment** ||  || 78 ||
 * **Maintenance** ||  || 175 ||
 * **Gas** ||  || 61 ||
 * || **Monthly total** || 314 ||

(to be entered on budget spreadsheet): || 329 ||
 * = **<span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px;">Total Insurance Costs for Car, Rental, and Health Insurances ** ||
 * > <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">Car Insurance: monthly premium (website quote divided by six months): ||> 209 ||
 * > <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">Renter's Insurance monthly premium: || 20.42 ||
 * > <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">Health Insurance monthly premium: || $100 ||
 * > <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">**Total** monthly cost for insurance premiums
 * > <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">Health Insurance monthly premium: || $100 ||
 * > <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">**Total** monthly cost for insurance premiums

Electric = 58.78 + Water = 25 + Sewer = 25 + Trash = 15 = TOTAL = 118 **Monthly total:**
 * Utilities **

=Communications=


 * **Service** || **Stand alone or bundled with another?** || **Cost** ||
 * **Cell** ||  || 79.99 ||
 * **Land line** || bundle || 49 ||
 * **TV** || bundle ||
 * **Internet** || bundle ||
 * || **Total monthly cost:** || 130 ||
 * Food and Household Items **

<span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">150 Student Loans <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">200 Entertainment =Questionnaire and Video= <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">Respond to these questions:
 * Miscellaneous **
 * <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">Is your budget balanced?
 * <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">If not, by what amount are you over budget? What could you do to balance your budget?
 * <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">If your budget is balanced, what else would you expect to do with the money that is not budgeted to be spent? Would you increase your spending anywhere?
 * <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">Is this project a realistic simulation of what it would be like plan a monthly budget? What part of it do you think was //**most**// realistic? In what ways is this simulation **//un//**realistic? (How could it be improved?)
 * <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">What has this project taught you about living in "the real world"?