Lauren+Leflar

==

=Budget Table=

this is my budget.

=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 ||   || $3,135.58 ||<   ||
 * < **Medicare** ||<  ||< .0145 ||   || $733.32 ||
 * < **Federal income tax** ||<  ||<   ||   || $6,454 ||
 * < **PA income tax** ||<  ||< .0307 ||   || $1,552.62 ||
 * <  ||<   ||> **Total for //year//:** ||   || 12 ||
 * ||  || **Total for //each month//:** ||   || $989.62 ||

= = =Retirement Savings= Your responses here: || I selected %10 as my retirement savings because I want to be able to save a lot of money and use it for like vacation or go travel the world. I just don't to just sit in the house and do nothing when I retire from my job. I want to be energetic and experience whole the world. The opportunity costs for my choice is that if I picked a lower percent, I would probably not have enough money to have a vacation or travel the world.
 * ||= **Dollar amount or rate** * ||
 * **__//Gross//__ //__monthly__// income -** || 10% ||
 * **Retirement savings rate (as a percentage)** ||  ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** * || $421.50 ||
 * **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.** || $1,441587 ||
 * **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.** || $2,853,770 ||
 * **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=



Square feet- 800 ||  || =Transportation=
 * Issue || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * || 212.10 ||  ||
 * Monthly rent for your apartment/house: || About $707-$735 ||  ||
 * Location || Pittsburgh, PA ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || One bedroom, one bathroom/bath
 * Selling features (What makes this a great apartment?) || It has a pool and it seems a cool neighborhood. ||  ||
 * Possible downsides || No dogs allowed but cats are. ||  ||
 * Parking ||  ||   ||
 * Included utilities ||  ||   ||   ||
 * Security deposit requirement ||  ||   ||
 * Restrictions on pets? || No dogs. Only cats ||  ||
 * Length of lease || 12 months ||

=Insurance=
 * **Expense** || **Calculation** || **Dollar cost** ||
 * **Payment** || (From the Cars.com online calculator) || 145.45 ||
 * **Maintenance** || (Three levels of monthly maintenance based on car cost. See instructions above.) ||  ||
 * **Gas** ||  ||   ||
 * || **Monthly total** || $511.82 ||





(to be entered on budget spreadsheet): ||  || All utilities includes electric. =Communications=
 * = **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): ||> $145.45 ||
 * > <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">Renter's Insurance monthly premium: || $20.92 ||
 * > <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
 * ||  || $266.37 ||
 * Utilities **
 * **Utility** || **Calculation** || **Monthly Dollar Cost** ||
 * **Electric** || Online calculator (PDF uploaded to wiki) || $0 ||
 * **Water** || $25 per month (if not included in rent) || $0 ||
 * **Sewer** || $25 per month (if not included in rent) || $0 ||
 * **Trash removal** || $15 per month (if not included in rent) || $0 ||
 * || **Monthly total:** || $0 ||
 * || **Monthly total:** || $0 ||


 * **Service** || **Stand alone or bundled with another?** || **Cost** ||
 * **Cell** ||  || $69.99/month ||
 * **Land line** ||  ||   ||
 * **TV** || $34.99/month ||
 * **Internet** || $34.99 ||
 * || **Total monthly cost:** || $139.98 ||


 * Food and Household Items **


 * Miscellaneous **

I want to go out with my friends and go to the movies or go out to movies just to have fun and enjoy my time. Since I have over $800 to spent so I would spend it on shopping, food, and possibly things for my family or friends. For the rest of money i will have left will be for vacation so i can entertain myself with my friends/family. This Budget Project helped me understand a lot more about money and how to manage paying money with help of insurance. I am glad that i learned how to do this project so i will know what to do when i start doing all of that. =Questionnaire and Video=
 * <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">Is your budget balanced? Yes, it is 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? I would expected to spent it on shopping and food. Possibly mostly for vacation just to entertain myself with my friends/family.
 * <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?) This project is realistic because it shows what it might be in the future for my budget. The apartment would be realistic because its expensive and important. The grocery is unrealistic because it has so many things to change in it. I don't really have any ideas to prove this budget because its fine the way it is.
 * <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"? This made me more understand about money and how to deal with paying all of these a month.