DGarvin

=Picture Practice= =Budget Table=

(Note: You can only view the spreadsheet here. You must enter data from your actual Google Doc spreadsheet.) media type="custom" key="24886330" 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** ||  ||< .062 x 51,960 ||   || 3667.92 ||<   ||
 * < **Medicare** ||<  ||< .0145 x 51,960 ||   || 857.82 ||
 * < **Federal income tax** ||<  ||< 51,960-9,350=42610 ||   || 6,882 ||
 * < **PA income tax** ||<  ||< .0307% ||   || 1816.21 ||
 * <  ||<   ||> **Total for //year//:** ||   || 13,223.95 ||
 * ||  || **Total for //each month//:** ||   || 1101.99 ||

=Retirement Savings=

Your responses here: Seems like a reasonable amount to save new vehicles, clothes, shoes, a new kitchen ||
 * = **Dollar amount or rate** * ||
 * **__//Gross//__ //__monthly__// income -** || $4,930 ||
 * **Retirement savings rate (as a percentage)** || 12% ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** * || $591.6 ||
 * **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.** || $2,031,775 ||
 * **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.** || $4,022,107 ||
 * **Respond to these questions in a few well written sentences:**
 * **Why did you select the retirement savings rate that you did?**
 * **What are the opportunity costs for your choice?** *
 * **Why did you select the retirement savings rate that you did?**
 * **What are the opportunity costs for your choice?** *

=Housing=

2 bathroom 1079 sqft ||  ||
 * Maximum rent (take home pay * 30%) * || $1,479 ||  ||
 * Monthly rent for your apartment/house: || $1,200 ||  ||
 * Location || Miami, Fl ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || 2 bedroom
 * Selling features (What makes this a great apartment?) || newly renovated, has a pool, pets are allowed, and a great location ||  ||
 * Possible downsides || no ||  ||
 * Parking || parking lot ||  ||
 * Included utilities || Water, Electric ,Heat ||  ||   ||
 * Security deposit requirement || yes ||  ||
 * Restrictions on pets? || breed and weight restrictions ||  ||
 * Length of lease ||

=Transportation=
 * **Expense** || **Calculation** || **Dollar cost** ||
 * **Payment** || (From the Cars.com online calculator) || $132 ||
 * **Maintenance** || (Three levels of monthly maintenance based on car cost. See instructions above.) || $125 ||
 * **Gas** ||  || $100 ||
 * || **Monthly total** || $357 ||

=Insurance=


 * Utilities **
 * **Utility** || **Calculation** || **Monthly Dollar Cost** ||
 * **Electric** || Online calculator (PDF uploaded to wiki) || $129.40 ||
 * **Water** || $25 per month (if not included in rent) || $25 ||
 * **Sewer** || $25 per month (if not included in rent) || $25 ||
 * **Trash removal** || $15 per month (if not included in rent) || $15 ||
 * || **Monthly total:** || $194.40 ||

=Communications=
 * < **Service** ||< **Stand alone or bundled with another?** ||< **Cost** ||
 * < **Cell** ||<  ||< $65 ||
 * < **Land line** ||<  ||<   ||
 * < **TV** ||< bundle with internet $94 ||
 * < **Internet** ||< bundle with tv ||
 * <  ||< **Total monthly cost:** ||< $159 ||


 * Food and Household Items **
 * || ** Sunday **  ||||  ** Monday **  ||||  ** Tuesday **  ||  ** Wednesday **  ||  ** Thursday **  ||  ** Friday **  ||||  ** Saturday **  ||
 * ** Breakfast ** || Cap'n Crunch |||| Cap'n Crunch |||| Cap'n Crunch || Cap'n crunch || Cap'n Crunch || Cap'n Crunch |||| $3.99 Cap'n Crunch ||
 * ** Lunch ** ||   ||||   ||||   ||   ||   ||   ||||   ||
 * ** Dinner ** ||   |||| chicken breast |||| $2.19 egg noodles || Lasagna $3.89 || chicken breast $4.99 ||   ||||   ||
 * ** Food cost for one week: ** |||| $12.08 ||||||||||  ** Multiply weekly cost by four to get monthly cost: **  || $48.32 ||

**// Purchases for the __Month__ //**

** Snacks and Other Food ** ||   ||

** Household and Personal Hygiene ** ** (toothpaste, razors, shampoo, laundry detergent) ** || tooth paste $4.97 Mouth wash $3.97 detergent $6.99 Bleach $5.99 Soap and Shampoo $3.97 electric razor 29.97 ||


 * ** Cost for a month’s worth of snacks, pharmacy, and personal hygiene: ** || $55.86 ||

$250 =Questionnaire and Video= Yes it is balanced I would invest in the stock market to make more money Yeah this is very realistic. The shopping for food is the most realistic. Getting insurance seems a little unrealistic It taught me that it is harder than it looks to live alone in “the real world”.
 * Miscellaneous **
 * Is your budget balanced?
 * If not, by what amount are you over budget? What could you do to balance your budget?
 * 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?
 * 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?)
 * What has this project taught you about living in "the real world"?