AshleyScott

Budget Spreadsheet
(Note: You can only view the spreadsheet here. You must enter data from your actual Google Doc spreadsheet.) media type="custom" key="7947824"

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** ||  ||< 44,990 x 0.062 ||   || 2,789.38 ||<   ||
 * < **Medicare** ||<  ||< 44,990 x 0.0145 ||   || 652.35 ||
 * < **Federal income tax** ||<  ||< 44,990 - 9350 = 35640 ||   || 5,094 ||
 * < **PA income tax** ||<  ||< 44,990 x 0.0307 ||   || 1381.19 ||
 * <  ||<   ||> **Total for //year//:** ||   || 9,916 ||
 * ||  || Total for //each month//: ||   || 826 ||

=Retirement Savings= Your responses here:
 * ||= Dollar amount or rate * ||
 * **__//Gross//__ //__monthly__// income -** || 3,749 ||
 * **Retirement savings rate (as a percentage)** || 15% ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** * || 562 ||
 * **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.** || 1,951,281 ||
 * **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.** || 3,862,762 ||
 * **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?** *

I chose 15% because I would not like to work at age 70.

The opportunity cost for my choice is not working when I'm 70. ||

= = = = =**Housing**=
 * Issue || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * || 876 ||  ||
 * Monthly rent for your apartment/house: || 725 ||  ||
 * Location || Plymouth Meeting, PA ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || 1 bedroom, 1 bath, 709 square feet ||  ||
 * Selling features (What makes this a great apartment?) || It's very spacious and it's in a nice environment ||  ||
 * Possible downsides || Not enough closet space ||  ||
 * Parking || Parking space ||  ||
 * Included utilities || Dishwasher, air conditioning, & high speed internet ||  ||   ||
 * Security deposit requirement || $499 ||  ||
 * <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">Restrictions on pets? || Small pets allowed (cats & dogs included) 10 month for 1 cat, $5 additional. $25 deposit, $15 month for 1 dog. ||  ||
 * <span style="color: #000000; display: block; font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px; text-align: left;">Length of lease || 6 months, 12 months, flexible ||

=**Transportation**=






 * **Expense** || **Calculation** || **Dollar cost** ||
 * **Payment** || (From the Cars.com online calculator) || 59.61 ||
 * **Maintenance** || (Three levels of monthly maintenance based on car cost. See instructions above.) || 175.00 ||
 * **Gas** || 1000/35*3.00 || 85.71 ||
 * || Monthly total || 320.00 ||

=**Insurance**=





<span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif;">(to be entered on budget spreadsheet): || 198.00 ||
 * = **<span style="font-family: 'Palatino Linotype','Book Antiqua',Palatino,serif; font-size: 16px;">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): ||> 82.00 ||
 * > <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


 * Utilities **




 * **Utility** || **Calculation** || **Monthly Dollar Cost** ||
 * **Electric** || Online calculator (PDF uploaded to wiki) || $60.63 ||
 * **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: || 125.63 ||

=Communications=





|| ||
 * **Service** || **Stand alone or bundled with another?** || **Cost** ||
 * **Cell** || Stand alone || 60.00 ||
 * **Land line** ||
 * **TV** || TV & Internet together = 69.99 ||
 * **Internet** ||  ||
 * || Total monthly cost: || 129.99 ||


 * Food and Household Items **




 * Miscellaneous **

=Questionnaire and Video=


 * Questions:**


 * <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, my budget was balanced.**
 * <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;">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? **Since my budget is balanced already, I would save the rest of the money I have 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?) **Yes, I do think this project was realistic.**
 * <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"? **This project taught me that I can't spend my money as soon as I get it. It also taught me how to save my money and spend it on my needs instead of my wants.**