Life In…United States G1 © Family Economics & Financial Education - Revised May Life in...United States Simulation - Bancroft-Notebook Cover and Profile Page 1 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona G2 Transportation  How will you get from here to there? –Transportation options include new and used vehicles or alternative forms of transportation Car, motorcycle, bicycle, subway, taxi, bus, scooter Review residence location to determine if you live in a metropolitan area and can access public transportation –Information sheet describes automobile operating costs, new vs. used vehicles, depreciation, auto insurance and financing Review to make the best spending plan decisions

Life In…United States G1 © Family Economics & Financial Education - Revised May Life in...United States Simulation - Bancroft-Notebook Cover and Profile Page 2 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona G2 Transportation  Transportation, on average, is 20% of a households net income  Calculate what 20% of your households net income is

Life In…United States G1 © Family Economics & Financial Education - Revised May Life in...United States Simulation - Bancroft-Notebook Cover and Profile Page 3 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona G2 Transportation Transportation options:  Purchasing new: –Not pre-owned, warranty, wide selection  Purchasing used: –Costs less, lower insurance rates, depreciates more slowly  Alternative options: –Less expensive than a vehicle –Availability is limited in some locations Things to know:  Assume down payment, license, registration and other fees have been paid  All other items must be included in the spending plan –Payment –Insurance –Fuel costs –Repairs and maintenance  If an alternative option is chosen, it must be appropriate for the location and person Some profiles indicate transportation choices the family has made

Life In…United States G1 © Family Economics & Financial Education - Revised May Life in...United States Simulation - Bancroft-Notebook Cover and Profile Page 4 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona G2 Transportation  Guided Spending Plan Question #6 –Determine new, used, or alternative options Unless indicated in the profile If a family already owns a vehicle, only insurance, fuel, and repairs and maintenance must be included –Select transportation –Identify which transportation option(s) was chosen –Record all transportation expenses  Calculate your transportation sub-total –Is it approximately 20% of net income?