HOME ECONOMICS PROJECT

What will you be? Two of each. Single man, $50,000, in Manhattan Family of 4, $30,000, in Orlando Married couple, $20,000, in Oxford, MS Single mother of 1, $50,000, in Atlanta Single woman, $20,000, in Tampa Single father of 2, $40,000, in L.A. Married couple, $100,000, in Orlando Family of three, 1.2 million, in Manhattan Family of four, $20,000, in New Orleans

Presentation: Due on December 20  10 – 15 slide presentation  Presenting 10 parts of the project

Part One  Select your degree (it must be consistent with your income)  Select your occupation (it must be consistent with your income)  Select your living arrangement (rent or own – of you own, assume that you put 10% down – calculate your mortgage from there)  Select your car (calculate your car payment - assume that you put 10% down – calculate your payment from there)  Find a picture of the place where you received your degree(s), your job, and your residence.

Part Two  Calculate your monthly expenses  Rent, mortgage  Utilities  Car payment  Phone payment  Groceries, gas  Clothes  Gym, entertainment, car insurance, pets  If you do not think that you can cover your monthly expenses, research if you qualify for government assistance.  If you have children, figure out where they attend school.

Part Three  Figure out a daily and weekly schedule  What time do you go to work? Come home?  When is the grocery shopping done? The cleaning? The laundry? The yard?  Who takes the kid(s) to school?  Are you or your children involved with extracurricular activities?  Create a calendar that shows who does what and when.

Part Four  For the lower-income families  Explain what government assistance you can get  For the middle-income families  Explain what you have to give up to pay your bills  For the higher-income families  Research and find a charity  Allocate some money to give

Part Five  What do you do for fun? How often?  How much does it cost every month?  Provide a picture.  Pro-football game  Movies with friends  Dinner  Cook-out at your place

Part Six: Good Times!  Your family receives a bonus of 10% of your income.  What do you do with it?  Buy new clothes?  Treat yourself to a trip, a nice dinner?  Buy your child something? A new bike? Karate classes?

Part Seven: Tough Times  A working member of your family is injured and cannot work for one month.  Deduct one month of your or your family’s salary.  How do you make ends meet?  What do you have to give up?

Part Eight:  Put together a realistic plan to increase your income in the future.

Part Nine  What have you learned from this project?  Is the allocation of your resources month to month easier or more difficult than expected?

Part Ten  Photo montage  Provide pictures of your life from personal or online resources