Derek+Jones

=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="11999309" 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** ||  ||< $32,497*.062 ||   || $2,014.81 ||<   ||
 * < **Medicare** ||<  ||< $32,497*.0145 ||   || $471.20 ||
 * < **Federal income tax** ||<  ||< $32,497*. ||   || $3,051 ||
 * < **PA income tax** ||<  ||< $32,497*.03 ||   || $974.91 ||
 * <  ||<   ||> **Total for //year//:** ||   || $6,510 ||
 * ||  || **Total for //each month//:** ||   || $542.50 ||

23,147 = = =Retirement Savings= Your responses here: ||
 * **__//Gross//__ //__monthly__// income - $32,497** ||  ||
 * **Retirement savings rate (as a percentage) 15%** ||  ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** || $487 ||
 * **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.** ||  ||
 * **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.** ||  ||
 * **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= Living with roommate
 * I || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * || $800 ||  ||
 * Monthly rent for your apartment/house: || $625 per ||  ||
 * Location || Vancouver, BC ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || 2 bed,2 bath, 770 sq ft ||  ||
 * Selling features (What makes this a great apartment?) || Location, apartment, and Amenities ||  ||
 * Possible downsides || Far from work ||  ||
 * Parking || Parking lot ||  ||
 * Included utilities || Water ||  ||   ||
 * Security deposit requirement || Not listed ||  ||
 * Restrictions on pets? || Pets negotiable ||  ||
 * Length of lease--1 year ||
 * Length of lease--1 year ||

=Transportation= Car was $8,995 to purchase with maintenance fees costing $75 and gas being $176 per month which adds up to $251 per month total.

=Insurance= (to be entered on budget spreadsheet): || $239.41 ||
 * **Expense** || **Calculation** || **Dollar cost** ||
 * **Payment** || (From the Cars.com online calculator) || $293 ||
 * **Maintenance** || (Three levels of monthly maintenance based on car cost. See instructions above.) || $75 ||
 * **Gas** ||  || $176 ||
 * || **Monthly total** || $544 ||
 * ~ [[image:DJ_renter]] ||~  ||~   ||
 * = **<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): ||> $119 ||
 * > <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">Renter's Insurance monthly premium: || $20.41 ||
 * > <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;">**Total** monthly cost for insurance premiums


 * Utilities **
 * **Utility** || **Calculation** || **Monthly Dollar Cost** ||
 * **Electric** || Online calculator (PDF uploaded to wiki) || $155 ||
 * **Water** || $25 per month (if not included in rent) || $0 ||
 * **Sewer** || $25 per month (if not included in rent) || $25 ||
 * **Trash removal** || $15 per month (if not included in rent) || $15 ||
 * || **Monthly total:** || $190 ||

= = =Communications= Roommate pays half
 * **Service** || **Stand alone or bundled with another?** || Cost ||  ||
 * **Cell** || Stand alone || $50 ||  ||
 * **Land line** || Bundled || 44.99m ||  ||
 * **TV** || Bundled || 44.99 ||
 * **Internet** || Bundled || 44.99 ||
 * || **Total monthly cost:** || $94 ||  ||
 * Food and Household Items **

$150 for student loans $100 for entertainment $250 total =Questionnaire and Video=
 * $67 a week $268 a month.**
 * 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? No not even close I'm spending more than I earn.
 * <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? -#3,390 getting smaller place and car
 * <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 decrease certain items and choose a slightly cheaper car and maybe have a smaller apartment
 * <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?)Yes all of it was very informative there is no unrealistic simulation in this project.
 * <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"? That its a struggle and you have to save money and make tough decisions