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=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="11994175" 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** ||  ||< .062x23,800 ||   || 16% ||<   ||
 * < **Medicare** ||<  ||< 23,800-9,350 ||   || 1.6% ||
 * < **Federal income tax** ||<  ||<   ||   ||   ||
 * < **PA income tax** ||<  ||< .037x23,800 ||   || 27% ||
 * <  ||<   ||> **Total for //year//:** ||   ||   ||
 * ||  || **Total for //each month//:** ||   || 44.6% ||

= = =Retirement Savings= Your responses here: We'll i'll have less money every year, but when i retire i'll have some decent money saved up. ||
 * ||= **Dollar amount or rate** * ||
 * **__//Gross//__ //__monthly__// income -** || $ 23,800 ||
 * **Retirement savings rate (as a percentage)** || 15% ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** * || 3,570 ||
 * **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.** || 1,408.44 ||
 * **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.** || 1,467.12 ||
 * **Respond to these questions in a few well written sentences:**
 * **Why did you select the retirement savings rate that you did? It worked with the income i was making per year.**
 * **What are the opportunity costs for your choice?**
 * **Why did you select the retirement savings rate that you did? It worked with the income i was making per year.**
 * **What are the opportunity costs for your choice?**

=Housing=

1 bathroom 500sqft ||  || and its a good price. ||  ||
 * Issue || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * || $7,140 ||  ||
 * Monthly rent for your apartment/house: || $780 ||  ||
 * Location || Royersford, PA ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || studio bedroom
 * Selling features (What makes this a great apartment?) || It's a good apartment for one person
 * Possible downsides || It's sort of small ||  ||
 * Parking || yes ||  ||
 * Included utilities || Water, Electric ,Heat ||  ||   ||
 * Security deposit requirement || yes ||  ||
 * Restrictions on pets? || Cats Only ||  ||
 * Length of lease || 1 year ||

=Transportation=



=Insurance=


 * Utilities **
 * **Utility** || **Calculation** || **Monthly Dollar Cost** ||
 * **Electric** || Online calculator (PDF uploaded to wiki) || $73.41 ||
 * **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:** || $138.41 ||

= = =Communications=
 * **Service** || **Stand alone or bundled with another?** || **Cost** ||
 * **Cell** || AT&T || 126.77 ||
 * **Land line** ||  ||   ||
 * **TV** || Comcast $89 ||
 * **Internet** ||  ||
 * || **Total monthly cost:** || $215.77 ||



$115
 * Food and Household Items **

$150 (student loan)
 * Miscellaneous **

=Questionnaire and Video=


 * Is your budget balanced? I think so. **I don't have a lot of money after everything is paid but i have some. With my budget and salary it's pretty good have the amount I do.**
 * If not, by what amount are you over budget? What could you do to balance your budget? **I don't think i was over my budget; I just don't really have any money to spend after i've paid for everything.**
 * <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'd probably rent a better apartment, just because i don't thinks its the best apartment for the rent I'm paying.**
 * <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 so I mean I don't really know what its really like to budget money. I think this project really made me realize how hard it is to get by, and have money to spend on things depending on how well you budget your money.**
 * <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 made me realize that it's really important to get a well paying job so that after you pay taxes and bills, and car payments you still have money for other things. It also made me realize how hard my parents must work for their money, and all the other things that aren't exactly necessary.**