Mary+Kate+Ryan

= = = = =Picture Practice= = = =Budget Table=

(Note: You can only view the spr = = = =

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eadsheet here. You must enter data from your actual Google Doc spreadsheet.)

media type="custom" key="11999567"

= = = = = = =**Getting a Job**= = = = = = = = = == = = =Taxes= = = = = =Retirement Savings= Your responses here: ||
 * ~ Name of Tax ||~  ||~ Calculation of tax for the year (provide a complete formula for each tax's calculation) ||~   ||~ **Dollar amount of tax** ||~   ||~   ||~   ||
 * < **Social Security** ||  ||< 34,000*.062 ||   || 2,108 ||<   ||
 * < **Medicare** ||<  ||< 34,000*.0145 ||   || 493 ||
 * < **Federal income tax** ||<  ||< 34,000-9350 ||   || 3,284 ||
 * < **PA income tax** ||<  ||< 34,000*.03 ||   || 1,020 ||
 * <  ||<   ||> **Total for //year//:** ||   || 6,905 ||
 * ||  || **Total for //each month//:** ||   || 575.42 ||
 * ||= **Dollar amount or rate** * ||
 * **__//Gross//__ //__monthly__// income -** || 2,833 ||
 * **Retirement savings rate (as a percentage)** || 10% ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** * || 283.30 ||
 * **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.** || 924,000 ||
 * **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.** || 1,666,000 ||
 * **Respond to these questions in a few well written sentences:**
 * **Why did you select the retirement savings rate that you did? I like working**
 * **What are the opportunity costs for your choice?** **travel the world**
 * **Why did you select the retirement savings rate that you did? I like working**
 * **What are the opportunity costs for your choice?** **travel the world**

=Housing=
 * Issue || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * || 677.40 ||  ||
 * Monthly rent for your apartment/house: || 645 ||  ||
 * Location || King Of Prussia ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || 1 bath, studio, 250 sqft ||  ||
 * Selling features (What makes this a great apartment?) || It has a pool and it is small ||  ||
 * Possible downsides || spacing ||  ||
 * Parking || n/a ||  ||
 * Included utilities || heat, gas, water, trash pick up ||  ||   ||
 * Security deposit requirement || 645 ||  ||
 * Restrictions on pets? || n/a ||  ||
 * Length of lease || n/a ||

= = =Transportation=
 * **Expense** || **Calculation** || **Dollar cost** ||
 * **Payment** || (From the Cars.com online calculator) || 56.73 ||
 * **Maintenance** || (Three levels of monthly maintenance based on car cost. See instructions above.) || 175 ||
 * **Gas** ||  || 103.44 ||
 * || **Monthly total** || 335.17 ||

= = =Insurance=

= =


 * Utilities **

= = =Communications=
 * **Utility** || **Calculation** || **Monthly Dollar Cost** ||
 * **Electric** || Online calculator (PDF uploaded to wiki) || $39.52 ||
 * **Water** || $25 per month (if not included in rent) || $ comes with rent ||
 * **Sewer** || $25 per month (if not included in rent) || $25 ||
 * **Trash removal** || $15 per month (if not included in rent) || $ comes with rent ||
 * || **Monthly total:** || 64.52 ||


 * **Service** || **Stand alone or bundled with another?** || **Cost** ||
 * **Cell** || alone || 139.90 ||
 * **Land line** || dont have one || 0 ||
 * **TV** || bundle 74.99 ||
 * **Internet** || bundle ||
 * || **Total monthly cost:** || 214.89 ||
 * Food and Household Items **

=Questionnaire and Video= > > > >
 * 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, i will be spending $700 more then what i make. <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">
 * <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? My communications, food, retirement savings cold be lower <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">
 * <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? not balanced <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">
 * <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 it shows what issues you could have living on your own, and how you need to budget and spend your money wisely. <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">
 * <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"? The real world is not going to be easy and you have to work hard for things and how to save and spend money wisely.