Budget Unit Personal Finance Coach Guttmann

Slides:



Advertisements
Similar presentations
 A budget is a written record of the money that flows in and out of your household or pocket every month.
Advertisements

By Andre Freire. I chose this job because I like to work with computers and to work with others that have the same mindset as me. I also picked because.
Financial Management Project Your name here. I work at: ______________________ I am a _____________________ at ________________________ and make $ _________.
What is your chosen career? Choose the career that you want and could achieve with your current grades as an average. Name of Career: Average salary: Educational.
Slide One Title of Project Student Names Period. Slide Two Explanation Of Task.
MANAGING YOUR PERSONAL FINANCES- Unit 7 – Creating a Budget.
Financial Planning. Income Minimum Wage - $ 8.10 hourly Associates Degree – $ 40,000 Bachelor Degree – $ 50,000 Masters – $ 45,000 - $ 85,000 Doctorate.
What job do you want, do you have the grades and determination to make it there?
Excel Activity #2b Budgeting. Overview & Income Example Budget - an estimate of income and expenditure for a set period of time. Minimum Wage Job – –
MANAGING YOUR MONEY Budgeting for the Real World 1.
PERSONAL INCOME EQUATION (P.I.E). Gross Pay – Deductions = Net Pay – Expenses = Discretionary Income.
Student Name Living on My Own May 30, Income Your employer Job title Job responsibilities Earnings If you are a student, where you get the rest.
By, Cody Lee. My Job  The career I have chosen is electrician. I have chosen this career because it is a good and fun job.
Created by: Mr. Bock. Salary I choose to base my salary from a career as a teacher that makes $51,250 annually This equates to $788/week or $3,152.00/month.
Marriage Counselor By:Shaquariya Tyson. Requirements The requirements are to help married people succeed in their marriage, help them choose the best.
CAREER BUDGET NAME 2014 – 2015 CAREER?. CAREER Career Qualifications: Entry Level Pay: Education Loan Payment: Location: Employer: Insert Career Image.
Keep Your Balance A look into what it costs when you’re on your own.
USING THE BANK INDEPENDENT LIVING NOVEMBER 4, 2015.
1 2 >DO WHAT YOU LOVE …
Cosmetologist.  Because I love to do hair and I like to other people hair.
Budgets. What is a Budget? A budget is a written document or electronic file that helps you take control of your personal finances The goal of a budget.
Budgeting for Your Future… Ms. Smith Personal Finance.
Virtual living project  Stephanie Ramirez  Veterinarian.
I CAN DETERMINE AND EXPLAIN THE IMPORTANCE OF CREATING A BUDGET AND HOW IT SUPPORTS GOOD FINANCIAL DECISION MAKING.
Budgeting Ms. Palmer, LVPHS. Monthly Income (HS diploma) Let’s assume you get a job that pays $10/hour right out of high school. If you worked 40 hours.
Cost of Living Exercise Careers Unit. Needs vs. Wants  Needs: Things I absolutely need.  Wants: Things I would like to have.
My Budget Project Personal Finance Period:_____ Your Name 7/7/
Marriage Unit: Budgeting 101
Photographer By Shirin Malek.
Budgeting Project!.
What Will My Lifestyle Cost?
Lesson 5A: Making a Budget– It Is All About Spending!
How much money will I need to live?
My Budget Project Personal Finance Period:_____
My Budget Project Personal Finance Period:_____
Creating a Personal Budget
If My Life Started Today
SALARY BASED BUDGET Adapted from: NextGenPersonalFinance.com Salary Based Budget.
Pay, Benefits, and Incentives
Teenage Pregnancy: The Budget
Personal Finance project
Learning How to Save Money
Social Security Tax Withholdings: Adjusted Gross Pay. x 6
Virtual Living: Physical Therapist
Social Security Tax Withholdings: Adjusted Gross Pay. x 6
My Budget Project Personal Finance Period:_____
Managing YOUR Money! Personal Finance.
My Budget Project Period:_____
My Budget Project Period:_____
Personal Finance Honors Project
My Budget Project Personal Finance Period:_____
Evaluate the costs and benefits of budgeting
Activity: Real Life Scenarios
JOURNAL Name 5 ways you could balance your budget if your cash flow was negative.
My Budget Project Personal Finance Period:_____
Budget terminology and extra budget info
My Budget Project Personal Finance Period:_____
My Budget Project Personal Finance Period:_____
Almost everything is better when you plan
Personal Finances.
My Budget Project Personal Finance Period:_____
Warm Up On a separate sheet of paper, what are some things that you have bought recently? Are these things needed or wanted? What kind of things do your.
My Budget Project Personal Finance Period:_____
More Budget Practice Financial Literacy.
Planning a budget.
My Personal Budget Project Personal Finance Period: 5th
My Budget Project Personal Finance Period:_____
Planning for the Future:
Financing Your Education
Mrs. Lewis sample Periods 2, 3, 5, 7
Presentation transcript:

Budget Unit Personal Finance Coach Guttmann Life Game Activity Budget Unit Personal Finance Coach Guttmann

Your Job High School Graduate Associates Degree (2 year) $880.00/month ($5.50/hour) Associates Degree (2 year) $1440.00/month ($9.00/hour) Bachelor’s Degree (4 year) $2000.00/month ($12.00/hour) Ph. D. $4000.00/month ($25.00/hour)

Taxes, Taxes, Taxes Deduct the following monthly for each job: High School Grad = -$246.00/month Associates Degree = -$403.00/month Bachelors Degree = -$560.00/month Ph. D. = -$1120.00/month

Net Income To figure your “Net Income” (take home pay) Gross Income - Taxes = Net Income Calculate your Net Income and write down

Rent Where are you going to live? Place Thrifty Expensive Efficiency (1 room) $300 $600 1 Bedroom $350 $750 2 Bedroom $450 $1200 2 Story Condo $500 $1400 Live with Parents $100 $200 (help with expenses)

Utilities Living alone Efficiency / 1 Bedroom $100/month 2 Bedroom / Condo $150/month

Car - Transportation Car Mo. Payment Maint./Gas Sweet (BMW) $976 (War) +$100 Nice (Infinity) $732 (War) +$100 Good (Mustang) $610 (War) +$100 OK (Chevy) $488 (War) +$100 Decent (Honda) $366 (War) +$100 Basic (Toyota) $244 (War) +$100 Used $122 + $60 +$100

Auto Insurance Must have (legal requirement) If living at home and you drive their car $166.67/month (on parent’s policy) If you have your own car $333.33/month

Health Insurance (Optional) If you are going to have health insurance: High School grad & Associates Degree NO partial benefits $100.00/month Bachelors Degree & Ph. D. Partial Benefits $40.00/month

Phone/Cable (Optional) Home Phone (with Long Distance) +$35.00 Cell Phone +$50.00 Cable Basic +$40.00 Premium +$60.00 Pay-per-view +$90.00

Food Eating at home (all meals/month) Eating out Eat well $300 Eat moderately $200 Eat thrifty $150 Eating out Dinners + $30 (alone) each Lunch + $10 Breakfast +$5

“Extra” Expenses Clothes Entertainment Vacation Stylin’ +$200/month Looking sharp +$100 Bargain Basement +$20 Entertainment Per “night out” +$50 Vacation From “Road Trip” ($50/month) – “B&B” ($500/mo.)

And the total is… Now, total your expenses Subtract your “Total Expenses” from your “Net Income” to get your “Total Cash Flow” How many had money left over at the end of the month??? How many thought about “Paying Yourself First”?