Jessica Perez Vinny Tran Juan Zuluaga

PRESENT STATEDESIRED STATE  Students who move out of their parents home out on their own do not understand how to budget their money effectively. This can cause students to work too many hours and have a negative impact on their school work.  Before moving out of their parent's home, State University provides students and their parents with a model budget plan to manage their finances. As a result of this plan, students can work a reasonable number of hours and achieve academic success.

NEEDS Student Loans$150Needed to go to school Rent$350Got to have a roof over our heads WANTS Car insurance 9Required to drive car to/from work Gas 8.7Needed to use car running to/from work Car payment 7Required to keep car for work School supplies 7Needed to do well in School Groceries 5.3Needed to stay healthy Eating out with friends 4.7Useful to keep in touch with friends Laundry 4.7Need clean clothes for work/school Cleaning supplies 3.7Needed to keep living environment clean Movies with friends 2.7Fun to do but not really needed CD's 2.3Other sources of music are available Summarized

Time frame Task and Events for the Director, Student Services, Director, Student Finance, Students, and Parents One year before school Begins Student and parent(s) have their first discussion regarding what would be necessary for the student to move into an apartment. The Directors hold a Budget Workshop to present the Model Budget Plan to students and parents. Based on the plan, students and their parents decide if students can afford to move into an apartment. Nine months before school Begins The Directors contract with Academic Associates for the creation of a Model Budget Plan to help students manage their finances when they move out of their parent’s home into their own apartment Six months before school begins Academic Associates presents the Model Budget Plan to the Director of Student Services and the Director of Student Finance. Six weeks before school Begins The Directors meet with individual students and their parents to review the plan and make any individual adjustments, if necessary Three months after school Begins The Directors have a follow-up meeting with students and parents. The parents congratulate the student for successfully managing their budget and thank the Directors for their assistance in creating a budget that met the needs of the students and parents.

VARIABLE COSTSAMOUNT CAR PAYMENT$100 CAR INSURANCE$70 GAS$120 SCHOOL SUPPLIES$40 CD'S$15 MOVIES WITH FRIENDS$10 EATING OUT WITH FRIENDS$20 GROCERIES$60 CLEANING SUPPLIES$25 LAUNDRY$40 FIXED COSTS STUDENT LOANS$150 SHARED APARTMENT$350 TOTAL $1,000

 $100  Biggest financial burden  Required to keep car for work  If left unpaid, your credit will suffer

 $70  A necessity in order to be able to keep car for work and school  If no insurance is obtained, one might be arrested for such minor thing

 $120  With gas prices skyrocketing, this has become a weekly burden in order to be able to drive car around

 $40  Needed to do well in school and improve work  May be shared between family members, if need arises  May be required in some classes more than others

 $15  Got to have music  There are also other sources of music  MP3s  Radio  Internet

 $10  Good thing to do if you have the time and the friends in order to bond and have fun with each other

 $20  One of many ways to keep in touch with your friends  Also nutritious and fun

 $60  Must eat food as it is our daily fuel  Sometimes not needed as often if family buys for all members

 $25  A cleaner environment makes for a more organized person  Sometimes not needed as much since family may provide this already

 $40  Work attire is a necessity  Can also be done as part of the family in order to cut down costs

Special thanks go to the board of directors of the State University from our team members: Jessica Perez Vinny Tran Juan Zuluaga

Wants-Needs Analysis Chart NEEDSVinh TranJuan ZuluagaJessica PerezTOTAL Student Loans$150 Rent$350 WANTSTOTAL Car payment 10 largest financial burden, needed for work 01 Don't have one so lowest priority10 Need your car to go to work 7 Car insurance09 required to maintain car 09 Really need this to drive my car around 09 Needed to be able to keep car for work 9 Gas08 constant weekly burden for work 10 This is what I need to get to and from work, which is what bring income 08 Needed to keep car running for work 8.7 School supplies07 must have for school 08 Got to get supplies in order to successfully pass classes 06 to do well in school and improve work 7 CD's02 radio is free 02 No need for CDs since my music is digitally archived 03 You can listen to the radio or to downloads 2.3 Movies with friends01 not a fan of going to movies 06 going out to the movies is fun and great to bond with friends 01 Not needed at all really 2.7 Eating out with friends 05 only way to keep in touch with friends 07 eating out is pretty important cause is nutritious and entertaining at the same time 02 Not needed only to occasionally relieve stress 4.7 Groceries04 mostly purchased by parents 05 not a biggie because the family buys for everyone and don’t need to get my own 07 Need to eat to stay healthy 5.3 Cleaning supplies03 I don't really clean, parents do 04 family provides this already and is not of high priority unless required at times 04 Need clean environment for study and rest 3.7 Laundry06 work attire is necessary 03 this is not done by me and it’s done in a family level 05 Need clean clothes for school and work 4.7