ECONOMIC PROJECT OUTLINE

SUPPLIES 1. 1 INCH FOLDER 2. DIVIDERS 3. CLEAR SHEET PROTECTORS 4. USB DRIVE (OPTIONAL BUT RECOMMENDED)

JOB CAREER CHOICE AND WHY YOU CHOOSE IT. COMPANY YOU WANT TO WORK FOR (HYPOTHETICAL) COMPANY NAME MEDICAL DENTAL VISION EDUCATION (MENTION YOUR SCHOOL AND PROGRAM OF STUDY) COST OF LIVING (IF YOUR NOT LIVING IN ROANOKE OR LYNCHBURG) W4 FORM VA 4 FORM TYPED ONE PAGE IN LENGTH

BANK CHOOSE A BANK SUNTRUST BB&T WELLS FARGO PROVIDE INFORMATION ON: CHECKING ACCOUNT SAVINGS ACCOUNT ONLINE BANKING ATM SERVICES CREDIT CARDS COMPLETE SAMPLE APPLICATION FORM LIST COLLEGE YOU WILL BE ATTENDING AND HOW MUCH IT WILL COST (4 YEARS OR MORE???) SET UP MONTHLY PAYMENT PLAN FOR PAYING BACK STUDENT LOANS OLLEGE-PLANNING/LOAN-CALCULATOR.ASPX OLLEGE-PLANNING/LOAN-CALCULATOR.ASPX

BUDGET SHEET FICA tax Medicare Tax Federal Tax State Tax (all percentages located on the back of this paper in the rubric).

HOUSING HOUSE OR APARTMENT? LIST SERVICES AND WHAT ALL THE PLACE OFFERS: LOCATION POOL/SPA MAILING SERVICES SUBMIT AN SAMPLE APPLICATION CAN BE FROM THE WEBSITE CAN FIND A BLANK APPLICATION ON GOOGLE IMAGES

TRANSPORTATION CAR OR TRUCK GET A SAMPLE LOAN FOR A NEW OR USED CAR. YOU ARE PURCHASING THE VEHICLE UNLESS YOU PLAN TO OWN YOUR CURRENT CAR 6 YEARS FROM NOW (TYPICALLY CARS LAST ON AVERAGE 7 YEARS). LEASE VS. FINANCING

INSURANCE GET A PREMIUM FOR: CAR INSURANCE HOME/RENTERS INSURANCE INSURANCE COMPANY WEBSITES TO OBTAIN A QUOTE FROM PROGRESSIVE THE GENERAL OTHER INSURANCE COMPANY YOU WILL HAVE TO CALL

CELL PHONE/TELEPHONE LIST THE COMPANY VERIZON AT&T MONTHLY COST PREPAID MINUTE PLAN ANY OTHER INFORMATION

UTILITIES WATER GAS ELECTRIC TRASH RECYCLING IF ANY UTILITIES ARE INCLUDED IN YOUR APARTMENT PLEASE MENTION IN YOUR DESCRIPTION. Utilities (Monthly) Avg. Basic (Electricity, Heating, Water, Garbage) for 915 sq. ft. Apartment $ 1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.18 $ Internet (10 Mbps, Unlimited Data, Cable/ADSL) $

FOOD AND CLOTHING RESEARCH 3 DIFFERENT TIPS ON HOW TO SAVE MONEY ON FOOD AND CLOTHING. CITE SOURCES

ENTERTAINMENT/MISC. TV MOVIES GAMING WHAT ELSE ARE YOU PAYING FOR ENTERTAINMENT? GOING OUT AT NIGHT EATING OUT AT RESTAURANT ETC.

GAS CONSUMPTION LIST HOW MANY MILES IT TAKES TO GO TO WORK INCLUDE A MAP HOW MANY MPG? HOW MUCH FOR OIL CHANGE? HOW MUCH DO YOU WANT TO ESTIMATE FOR OTHER MAINTENANCE COSTS?

SAVINGS DOES YOUR COMPANY HAVE A PENSION PLAN? RETIREMENT ACCOUNT ESTABLISH SOME FORM OF AN INDIVIDUAL RETIREMENT ACCOUNT (IRA) AND SPECIFY HOW MUCH YOU WOULD LIKE TO CONTRIBUTE ON A MONTHLY BASIS. INFORMATION ABOUT RETIREMENT ACCOUNTS CAN BE FOUND AT SOME OF THE WEBSITES UNDER “ADDITIONAL RESOURCES.” IF YOU CONTINUE TO CONTRIBUTE TO YOUR IRA AT THE MONTHLY RATE YOU HAVE ESTABLISHED, HOW MUCH WILL YOU HAVE BY THE TIME YOU ARE 65? EMERGENCY SAVINGS (MAKE IT HAPPEN WITH AT LEAST $1,000) IDENTIFY THE CURRENT INTEREST RATE ON PERSONAL SAVINGS ACCOUNTS AT YOUR BANK AND WHETHER YOUR EMPLOYER HAS A COMPANY PENSION PLAN OR CONTRIBUTES TO AN INDIVIDUAL RETIREMENT ACCOUNT FOR YOU. ESTABLISH AN EMERGENCY SAVINGS ACCOUNT (“REAL WORLD” SAVINGS) AND DETERMINE HOW MUCH YOU WOULD LIKE TO HAVE IN THIS ACCOUNT. (AT LEAST $1000 IS REQUIRED). EXPLAIN HOW LONG IT WILL TAKE YOU TO GET THIS AMOUNT AT YOUR CURRENT RATE OF SAVINGS.

DONATIONS DONATE AT LEAST A COUPLE OF DOLLARS TO A CHARITY OF YOUR CHOICE. EXPLAIN YOUR EXPLANATION

EXTRA CREDIT YOUR CHOICE (SEE HANDOUT)

PROJECT REVIEW THIS IS GOING TO TAKE A WHILE TO COMPLETE. BIGGEST STRUGGLE IS FINDING ALL THE RIGHT INFORMATION. TURN IN PROJECT IN A 3 RING 1 INCH BINDER AS THOUGH YOU ARE TURNING IN A PROFESSIONAL PROJECT.