ASanders

=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="24886294" 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** ||  ||<   ||   || 2728 ||<   ||
 * < **Medicare** ||<  ||<   ||   || 638 ||
 * < **Federal income tax** ||<  ||<   ||   || 1576 ||
 * < **PA income tax** ||<  ||<   ||   || 1628 ||
 * <  ||<   ||> **Total for //year//:** ||   || 4994 ||
 * ||  || **Total for //each month//:** ||   || $416 ||

= = =Retirement Savings=

Your responses here: i chose to put away half of my salary. Instead of keeping the whole 95400 i would have 47700. Therefore i would still have enough money to pay for all of my bills. i would be able to live comfortably when i retire. ||
 * = **Dollar amount or rate** * ||
 * **__//Gross//__ //__monthly__// income -** ||  ||
 * **Retirement savings rate (as a percentage)** ||  ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** * ||  ||
 * **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.** ||  ||
 * **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.** ||  ||
 * **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?** *

=Housing=

2 bathroom 1008sqft Balcony ||  ||
 * Issue || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * || $1500 ||  ||
 * Monthly rent for your apartment/house: || $950 ||  ||
 * Location || Norristown, PA ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || 1 bedroom
 * Selling features (What makes this a great apartment?) || area, benefits, nice looking kitchen ||  ||
 * Possible downsides || no ||  ||
 * Parking || parking lot ||  ||
 * Included utilities || Water, Electric ,Heat ||  ||   ||
 * Security deposit requirement || yes ||  ||
 * Restrictions on pets? || None ||  ||
 * Length of lease || 1 year ||

=Transportation=

=Insurance=


 * Utilities **

= = =Communications= __+89.99__ 169.98 ||
 * **Service** || **Stand alone or bundled with another?** || **Cost** ||
 * **Cell** || Sprint || 79.99/m ||
 * **Land line** || Verizon ||  ||
 * **TV** || verizon ||
 * **Internet** || verizon ||
 * || **Total monthly cost:** || 79.99


 * Food and Household Items **

Student Loans - $150 __Other expenses- $50__
 * Miscellaneous **

total expenses $200

=Questionnaire and Video=


 * Is your budget balanced? **Yes**
 * 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? **i would either put it away for savings or use for something i truly need Or, use it towards vacation.**
 * <span style="font-family: Palatino Linotype,Book Antiqua,Palatino,serif;">Is this project a realistic simulation of what it would be like plan a monthly budget? What part of it do you think was //<span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px;">**most** //<span style="font-family: Palatino Linotype,Book Antiqua,Palatino,serif;"> realistic? In what ways is this simulation **<span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px;">//un// **<span style="font-family: Palatino Linotype,Book Antiqua,Palatino,serif;">realistic? (How could it be improved?) **<span style="font-family: Palatino Linotype,Book Antiqua,Palatino,serif;"> i think this project was a GREAT way of getting us ready for the real financial world. I think it really helped me because it gave a realistic point of view towards spending. The only way its unrealistic is because its not our actual finances, it's something we are assuming. Overall i think this project was a wonderful example. I Enjoyed it. **
 * <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 gave me a reality check about how life is Really going to be, instead of thinking i might not have money problems when in reality, if I Do not spend my money wisely, ill be in a bad financial situation.**