Brandon+Nielsen

=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="23110570" align="left"

=Getting a Job=

= = == = = =Taxes=

= = =Retirement Savings=
 * ~ Name of Tax ||~  ||~ Calculation of tax for the year (provide a complete formula for each tax's calculation) ||~   ||~ **Dollar amount of tax** ||~   ||~   ||~   ||
 * < **Social Security** ||  ||< .062 x $61,330 ||   || $3802.46 ||<   ||
 * < **Medicare** ||<  ||< .0145 x $61,330 ||   || $889.29 ||
 * < **Federal income tax** ||<  ||< -$11,519 ||   || $11,519 ||
 * < **PA income tax** ||<  ||< .0307 x $61,330 ||   || $1882.83 ||
 * <  ||<   ||> **Total for //year//:** ||   || $18093.58 ||
 * ||  || **Total for //each month//:** ||   || $1507.80 ||

Your responses here: I would loose a portion of how much I make each month ||
 * = **Dollar amount or rate** * ||
 * **__//Gross//__ //__monthly__// income - $5108** ||  ||
 * **Retirement savings rate (as a percentage) %10** ||  ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** * ||  ||
 * $510 per month $6120 per year ||  ||
 * **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 $1,611,122 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.** ||  ||
 * $3,505,353 ||  ||
 * **Respond to these questions in a few well written sentences:**
 * **Why did you select the retirement savings rate that you did? I don't want to work my whole life.**
 * **What are the opportunity costs for your choice?** *

=Housing=

2 bathroom 705sqft ||  ||
 * Issue || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * $3601 X .3 = || $1080.30 ||  ||
 * Monthly rent for your apartment/house: $1,005 || $1,005 ||  ||
 * Location King of Prussia, PA || King of Prussia, PA ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) 1 bedroom,1 bathroom, 705 square feet || 1 bedroom
 * Selling features (What makes this a great apartment?) Its a affordable home just for myself that has all my basic essentials that I need ||  ||   ||
 * Possible downsides There is not a lot of space. || no ||  ||
 * Parking Not included || N/A ||  ||
 * Included utilities None || N/A ||  ||   ||
 * Security deposit requirement 1st and last month || 1st and last month ||  ||
 * Restrictions on pets? 2 pets allowed || 2 ||  ||
 * Length of lease 12 months || 1 year ||

=Transportation=
 * **Expense** || **Calculation** || **Dollar cost** ||
 * **Payment** || (From the Cars.com online calculator) || $296 ||
 * **Maintenance** || (Three levels of monthly maintenance based on car cost. See instructions above.) || $75 ||
 * **Gas** || Per Month || $120 ||
 * || **Monthly total** || $491 ||



=Insurance=

(to be entered on budget spreadsheet): || $403 ||
 * = **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): ||> $282.67 ||
 * > <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">Renter's Insurance monthly premium: || $20.42 ||
 * > <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

= = = = =Communications=
 * Utilities **
 * **Utility** || **Calculation** || **Monthly Dollar Cost** ||
 * **Electric** || Online calculator (PDF uploaded to wiki) || $111.55 ||
 * **Water** || $25 per month (if not included in rent) || $25 ||
 * **Sewer** || $25 per month (if not included in rent) || $25 ||
 * **Trash removal** || $15 per month (if not included in rent) || $15 ||
 * || **Monthly total:** || $176,55 ||
 * **Service** || **Stand alone or bundled with another?** || **Cost** ||
 * **Cell** || $110 ||  ||
 * **Land line** || N/A ||  ||
 * **TV** || $70 ||
 * **Internet** || (Included with cost of TV) ||
 * || **Total monthly cost:** || $180 ||






 * Food and Household Items **

Student Loans $150 Entertainment: I have about $336 a month to use for entertainment or saving money.
 * Miscellaneous **

=Questionnaire and Video=

> > > >
 * <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">Is your budget 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;">If not, by what amount are you over budget? What could you do to balance your budget? <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? <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?) <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"?