In the Money: Financial Literacy & Personal Budge Project Preview
Budgeting and Goals
Soon you will be on your own. You will need food, shelter, transportation, employment, etc. How much will this all cost and how much do you need to earn to actually afford the lifestyle you want? In this unit (and for your final project/exam) you will learn the answers to these questions and more.
Please, go in order of assignments!
Assignment 1“In the Money: Interest Assessment & Finding a Job & Making an Income
Assignment 2Renting an apartment
Assignment 3Purchasing a car
Assignment 4Purchasing groceries
Assignment 2Renting an Apartment
Typically, the first time you live on your own, you will rent an apartment. As we learn about living on our own, we need to get real about what is involved and how much it will cost. Before we create an accurate list of average expenses to live on your own, let’s do some research on how much it actually costs to rent an apartment in California:
Using the internet, complete the following form. In a nutshell, you will research THREE apartments within a 30 minute drive of Rohnert Park, CA. You need to use 2 different websites and each apartment must be in a different town. Be realistic. No homeless shelters and no Diddy penthouses please. (See reverse side as well).
Apartment 1 (Using colors raw/ Copy & paste a picture of the INTERIOR)
Website used:
City/Town:
Monthly Rent:
What is included? (heat, pets, parking, washer/dryer, bedrooms, square feet, pool, etc)
Give a short opinion on this apartment. Would you rent it? Why or why not.
Apartment 2 (Using colors raw/ Copy & paste a picture of the INTERIOR)
Website used:
City/Town:
Monthly Rent:
What is included? (heat, pets, parking, washer/dryer, bedrooms, square feet, pool, etc)
Give a short opinion on this apartment. Would you rent it? Why or why not.
Apartment 3 (Using colors raw/ Copy & paste a picture of the INTERIOR)
Website used:
City/Town:
Monthly Rent:
What is included? (heat, pets, parking, washer/dryer, bedrooms, square feet, pool, etc)
In a summary of four sentences, give a short opinion on this apartment. Would you rent it? Why or why not.
Now that you have your 3 apartments, complete the following math equation:
1. MONTHLY RENT OF APARTMENT #1______
2. MONTHLY RENT OF APARTMENT #2______
3. MONTHLY RENT OF APARTMENT #3______
4. TOTAL OF ALL 3 APARTMENTS______
Find the AVERAGE rent of your 3 apartments. Take your total from above and divide by 3.
TOTAL FROM LINE 4 DIVIDED BY 3 = ______This is the average rent of an apartment you want in
the state of CA. You will use this figure for your FINAL budget later in the unit.
Assignment 4Purchasing a Car
One of life’s major joys and expenses is that of a car. For purposes of this assignment, you are going to research three cars that you may drive at age 25. You are to assume that your car loan will be for six years. Complete the data below and then put the final average car price in your final budget.
Car #1
Car Manufacturer (ie Ford)
Car Model (ie Mustang)
Car Year (ie 2016)
Details of the Vehicle
Picture of the Vehicle
Purchase price of the Vehicle (ie $25,000)
Car #2
Car Manufacturer (ie Ford)
Car Model (ie Mustang)
Car Year (ie 2016)
Details of the Vehicle
Picture of the Vehicle
Purchase price of the Vehicle (ie $25,000)
Car #3
Car Manufacturer (ie Ford)
Car Model (ie Mustang)
Car Year (ie 201)
Details of the Vehicle
Picture of the Vehicle
Purchase price of the Vehicle (ie $25,000)
Average Cost of Your Car (Car 1+ Car 2+ Car 3)/3______
Monthly Cost of Your Car (see below for the formula)______
(This cost is to go onto your Final budget)
The average cost of a car, over six years, is $160 per month for every $10,000 cost of the car. Therefore, use this formula:
Cost of the car divided by 10,000 = X. Multiply X by 160 for the monthly cost.
Example:
Cost of the car, $25,000 divided by 10,000 = 2.5 2.5 x 160 = $______monthly cost.
Assignment 5Purchasing Groceries
You are going to purchase groceries for an entire month. Use the Stop n Shop “Peapod” webpage to shop for groceries.
You do not need to create an account to shop.
Create your shopping list (talk to parents if you need guidance) for an entire month. Once complete, delete my example below, hit the PRINT SCREEN button and copy and paste your total grocery list below. I estimate that the cost will be $500-$600.
You will use this total in your FINAL budget.