Raistlin+Furlong

=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="23110460" 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** ||  ||< 6.2% .062 * 55.986 ||   || 3471 ||<   ||
 * < **Medicare** ||<  ||< 1.45% .0145 * 55.986 ||   || 811 ||
 * < **Federal income tax** ||<  ||<   ||   || 10431 ||
 * < **PA income tax** ||<  ||< .0306 * 55.986 ||   || 1713 ||
 * <  ||<   ||> **Total for //year//:** ||   || 16426 ||
 * ||  || **Total for //each month//:** ||   || 1368 ||

= = =Retirement Savings=

Your responses here: ||
 * = **Dollar amount or rate** * ||
 * **__//Gross//__ //__monthly__// income - 4666** ||  ||
 * **Retirement savings rate (as a percentage) 5 percent** ||  ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month). 233** ||  ||
 * **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. 800,000,000** ||  ||
 * **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. 1,600,000,000** ||  ||
 * **Respond to these questions in a few well written sentences:**
 * **Why did you select the retirement savings rate that you did? rather spend money now on things other than saving for retirement.**
 * **What are the opportunity costs for your choice?** to pay other bills
 * **Why did you select the retirement savings rate that you did? rather spend money now on things other than saving for retirement.**
 * **What are the opportunity costs for your choice?** to pay other bills

=Housing= 1 bathroom 450sqft ||  ||
 * Issue || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * || .3 * 3298 = 990 ||  ||
 * Monthly rent for your apartment/house: || $900 ||  ||
 * Location || King of Prussia, PA ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || 1 bedroom
 * Selling features (What makes this a great apartment?) || high speed internet, balcony, oversized closets, pets, view, swimming pool, fitness center, ||  ||
 * Possible downsides || no ||  ||
 * Parking || ample off street parking ||  ||
 * Included utilities || Water, Electric ,Heat ||  ||   ||
 * Security deposit requirement || yes ||  ||
 * Restrictions on pets? || only cats ||  ||
 * Length of lease || 1 year ||

=Transportation=
 * **Expense** || **Calculation** || **Dollar cost** ||
 * **Payment** || (From the Cars.com online calculator) || 231$ ||
 * **Maintenance** || (Three levels of monthly maintenance based on car cost. See instructions above.) || 75$ ||
 * **Gas** ||  || 90$ ||
 * || **Monthly total** || 369 ||

=Insurance=

(to be entered on budget spreadsheet): || $463 ||
 * = **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): ||> $353 ||
 * > <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">Renter's Insurance monthly premium: || $10 ||
 * > <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
 * || [[image:Screen Shot 2013-06-10 at 1.09.49 PM.png]] ||  ||


 * Utilities **

== =Communications=
 * **Utility** || **Calculation** || **Monthly Dollar Cost** ||
 * **Electric** || Online calculator (PDF uploaded to wiki) || $44.57 ||
 * **Water** || $25 per month (if not included in rent) || $ in ||
 * **Sewer** || $25 per month (if not included in rent) || $ inc ||
 * **Trash removal** || $15 per month (if not included in rent) || $ inc ||
 * || **Monthly total:** 44.57$ ||
 * **Service** || **Stand alone or bundled with another?** || **Cost** ||
 * **Cell** ||  || 109 ||
 * **Land line** || triple play 90 ||  ||
 * **TV** || triple play 90 ||
 * **Internet** || triple play 90 ||
 * || **Total monthly cost:** || 199 ||
 * Food and Household Items **

student loans $150 going out on weekends $400 =Questionnaire and=
 * 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? yes.
 * <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 budget is balanced
 * <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 invest the remaining $92
 * <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? yes it is realistic we used real world websites with real numbers
 * <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;"> What part of it do you think was **//most realistic//** ? the search for a car an apartment was very realistic.
 * <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">In what ways is this simulation **//un//**realistic? (How could it be improved?) the food part and the getting a job part.
 * <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 creating a budget is vital for success and that the real world is expensive.