Jamie+Davis

= = =Budget Table=

(Note: You can only view the spreadsheet here. You must enter data from your actual Google Doc spreadsheet.) media type="custom" key="11994175" 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** ||  ||<   ||   || 2,925.16 ||<   ||
 * < **Medicare** ||<  ||<   ||   || 684.11 ||
 * < **Federal income tax** ||<  ||<   ||   || 5,644.00 ||
 * < **PA income tax** ||<  ||<   ||   || 1,448.43 ||
 * <  ||<   ||> **Total for //year//:** ||   || 10,701.70 ||
 * ||  || **Total for //each month//:** ||   || 891.81 ||

=Retirement Savings= Your responses here:
 * ||= **Dollar amount or rate** * ||
 * **__//Gross//__ //__monthly__// income -** || $ 3,932 ||
 * **Retirement savings rate (as a percentage)** || 6% ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** * || $235.92 ||
 * **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.** || $819,122 ||
 * **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.** || $1,621.535 ||
 * **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?** (What am i not spending money on to get to that goal) *(
 * **Why did you select the retirement savings rate that you did?**
 * **What are the opportunity costs for your choice?** (What am i not spending money on to get to that goal) *(
 * I selected 6% because it is a reasonable percentage to choose. It allows me have money saved.
 * Instead of spending money on take out and going out to dinner i will save that money and eat home. ||

=Housing= cable television ||  ||   ||
 * Issue || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * || $912.00 ||  ||
 * Monthly rent for your apartment/house: || $645.00 ||  ||
 * Location || 217 Donahue Manor Rd. Bedford, PA 15522 ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || 1 bedroom, 1 bathroom, 595 sq. ft. ||  ||
 * Selling features (What makes this a great apartment?) || Good Location, nice apartments ||  ||
 * Possible downsides || a little bit of a commute to work ||  ||
 * Parking || Parking Garage $45/month ||  ||
 * Included utilities || electric, gas, water, sewer, garbage removal,
 * Security deposit requirement || same as first month ||  ||
 * Restrictions on pets? || $150 Additional deposit, $15 per month ||  ||
 * Length of lease || 12 months ||

=Transportation=
 * **Expense** || **Calculation** || **Dollar cost** ||
 * **Payment** || (From the Cars.com online calculator) || $393.13 ||
 * **Maintenance** || (Three levels of monthly maintenance based on car cost. See instructions above.) || $75 ||
 * **Gas** ||  || $93.75 ||
 * || **Monthly total** || $561.88 ||

=Insurance= (to be entered on budget spreadsheet): || $260.37 ||
 * = **<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): ||> $136.17 ||
 * > <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">Renter's Insurance monthly premium: || $24.42 ||
 * > <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

all included! = = =Communications=
 * 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 ||
 * **Service** || **Stand alone or bundled with another?** || **Cost** ||
 * **Cell** ||  || $101.99 ||
 * **TV** ||  || $104.99 ||
 * **Internet** ||  ||
 * **Land Line** ||  ||
 * || **Total monthly cost:** || $206.98 ||



WorkSheet! $200 towards shopping or something fun with friends.
 * Food and Household Items **
 * Miscellaneous **

=Questionnaire and Video=


 * <span style="display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">Is your budget balanced? <span style="display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">Yes, My budget is balanced, and i also have left over money.
 * <span style="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="display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">I would increase my investment for my retirement. It is always nice to know that i will have money in the future for retirement.
 * <span style="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="display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">Yes it is a realistic simulation of monthly budgeting. I think the whole project was realistic because you had to budget off of what you hope to be making from your job and you need to be careful about not over spending money.
 * <span style="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"? <span style="display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">It has taught me that i need to learn how to budget my money better, and to always be careful not to over spend, and if your missing money for something important such as insurance or such you need to fix how your spending your money.