JWilson

=Picture Practice= =Budget Table=



=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** ||  ||<   ||   || $3186.80 ||<   ||
 * < **Medicare** ||<  ||<   ||   || $745.30 ||
 * < **Federal income tax** ||<  ||<   ||   || $6707 ||
 * < **PA income tax** ||<  ||<   ||   || $1901.8 ||
 * <  ||<   ||> **Total for //year//:** ||   || $12,540.90 ||
 * ||  || **Total for //each month//:** ||   || $1045.08 ||

=Retirement Savings= Your responses here: ||
 * ||= **Dollar amount or rate** * ||
 * **__//Gross//__ //__monthly__// income -** ||  ||
 * **Retirement savings rate (as a percentage)** || 10% ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** * || $428 ||
 * **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.** || $5139 ||
 * **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.** || $1486897 ||
 * **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 when i'm old. I want to relax and enjoy the rest of my life. With a little over a million dollars i'll be fine.**
 * **What are the opportunity costs for your choice?**
 * i won't be able to spend as much on** **luxury items since i have to save for retirement.**
 * **What are the opportunity costs for your choice?**
 * i won't be able to spend as much on** **luxury items since i have to save for retirement.**

=Housing= 1 bath 960 sq. ft. ||  ||
 * Issue || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * || $1241 ||  ||
 * Monthly rent for your apartment/house: || $1050 ||  ||
 * Location || Kansas City ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || loft
 * Selling features (What makes this a great apartment?) || i like the look of it. it looks broken down but modern at the same time. ||  ||
 * Possible downsides || i'll want something bigger ||  ||
 * Parking || garage and gated lot parking ||  ||
 * Included utilities || all appliances including washer and dryer ||  ||   ||
 * Security deposit requirement || yes ||  ||
 * Restrictions on pets? || None ||  ||
 * Length of lease || 1 year ||

=Transportation=

== =Insurance= (to be entered on budget spreadsheet): ||  ||
 * **Expense** || **Calculation** || **Dollar cost** ||
 * **Payment** || (From the Cars.com online calculator) || $245.69 ||
 * **Maintenance** || (Three levels of monthly maintenance based on car cost. See instructions above.) || $75 ||
 * **Gas** ||  || $96 ||
 * || **Monthly total** || $416.69 ||
 * = **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): ||> $ ||
 * > <span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">Renter's Insurance monthly premium: || $15.83 ||
 * > <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


 * Utilities **
 * **Utility** || **Calculation** || **Monthly Dollar Cost** ||
 * **Electric** || Online calculator (PDF uploaded to wiki) || $38.69 ||
 * **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:** || $103.69 ||

= = =Communications=
 * **Service** || **Stand alone or bundled with another?** || **Cost** ||
 * **Cell** || Alone (Sprint) || $110 ||
 * **Land line** || Alone (AT&T) || $24 ||
 * **TV** || Comcast $69.99 ||
 * **Internet** || Comcast ||
 * || **Total monthly cost:** || $203.99 ||


 * 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? **yes**
 * <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? **it's balanced**
 * <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? **i would increase the amount i would pay for rent**
 * <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?) **i think the process of finding a house and the bills you would have to pay is realistic. i don't think that the amount of money we would start out with is realistic.**
 * <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"? **it's expensive**