Marc+Loeffler

=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="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** ||  ||<   ||   || 428.01 ||<   ||
 * < **Medicare** ||<  ||<   ||   || 100.10 ||
 * < **Federal income tax** ||<  ||<   ||   || 1340.73 ||
 * < **PA income tax** ||<  ||<   ||   || 211.93 ||
 * <  ||<   ||> **Total for //year//:** ||   || 24969.24 ||
 * ||  || **Total for //each month//:** ||   || 2080.77 ||

= = =Retirement Savings= Your responses here:
 * ||= **Dollar amount or rate** * ||
 * **__//Gross//__ //__monthly__// income -** || 6903 ||
 * **Retirement savings rate (as a percentage)** || 10% ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** * || 690.30 ||
 * **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.** || 2,252,631 ||
 * **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.** || 4,384,546 ||
 * **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?** *

1. Because it was easy to calculate.

2. I lose a lot of luxuries by saving all that money, like a new coat of paint on my car. ||

=Housing=


 * Issue || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * || 1240 ||  ||
 * Monthly rent for your apartment/house: || 1095 ||  ||
 * Location || king of prussia PA ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || 1 bed, 1 bath, 1000ft^2 ||  ||
 * Selling features (What makes this a great apartment?) || it is very spacious and well designed. there is free internet access and good security as well as good parking. ||  ||
 * Possible downsides || it is only one bed room so there is not a long staying motivation. it is pretty pricey for a one bed room. ||  ||
 * Parking || there are two reserved parking spaces for me. ||  ||
 * Included utilities || heating and air as well as both hot/cold water and internet. as well as "utilities" which i geuss means water and electricity. ||  ||   ||
 * Security deposit requirement || says no deposit. but there is also a $35 application fee ||  ||
 * Restrictions on pets? || no dogs but cats are allowed. ||  ||
 * Length of lease || 12 month lease. ||

=Transportation=


 * **Expense** || **Calculation** || **Dollar cost** ||
 * **Payment** || (From the Cars.com online calculator) || $451 ||
 * **Maintenance** || (Three levels of monthly maintenance based on car cost. See instructions above.) || $75 ||
 * **Gas** ||  || $108 ||
 * || **Monthly total** || $634 ||

=Insurance=

Car Insurance: monthly premium (website quote divided by six months): $226 Renter's Insurance monthly premium: $20 <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;">(to be entered on budget spreadsheet): $346
 * <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px;">Total Insurance Costs for Car, Rental, and Health Insurances **




 * Utilities **
 * **Utility** || **Calculation** || **Monthly Dollar Cost** ||
 * **Electric** || Online calculator (PDF uploaded to wiki) || $52 ||
 * **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:** || $52 others included. ||

= = =Communications=


 * **Service** || **Stand alone or bundled with another?** || **Cost** ||
 * **Cell** ||  || $140 ||
 * **Land line** || bundle || $90 ||
 * **TV** || bundle ||
 * **Internet** || bundle ||
 * || **Total monthly cost:** || $230 ||
 * Food and Household Items **


 * Miscellaneous **

=Questionnaire and Video= <span style="background-color: #ffffff; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">Respond to these questions:
 * <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, I have a little under 1000 left over.
 * <span style="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="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;">no I would save it making it work for me.
 * <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;">what was realistic was the researching while the actual prices were not that realistic, i mean there is upkeep on some of this stuff that is unaccounted for.
 * <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;">that making a budget is easy