1. Making ends meet By Ethan Falks (2015)

2. GPA=2.0 Education options include: Associates degree Possible Jobs: Construction worker, Dental hygienist, Medical Technician, Welder

3. Dental Hygienist Job Title: Dental Hygienist Gross Yearly Salary: $42,500 Job Duties: Teach patients good oral health Education/Training: GED; Dental Hygiene program Demand: High

4. RESULTS Profile Pie Chart Results In the MIT Forced test I scored Logical/Mathematical as my highest score. I support the thought that I learn using Logic and Mathematics. I think this because My best subjects are Science and Math. A career in this subject is a Mathematician. I have not thought of a career as a Mathematician.

5. MIT Profile Line Graph Results My Free and forced choices For the Multiple Intelligence Test were parallel. My toughest way to learn is through Musical/Rhythmic. One way I think I could improve in this section would be to ask a music teacher and practice.

6. Budget Description: an estimate of income and expenditure for a set period of time. A plan listing your income along with all the expenses or costs you have Definition: The amount of money you are able to spend in a certain period of time. When you begin to live on your own, you have to develop a budget to know what you can spend.

7. Gross Income Descriptions: The Total amount of money you make, including all income, taxes, SS, and benefits. Definition: The amount of money you earn before deductions. If My Gross Income is 1600 dollars a month, it won’t be that much after taxes.

8. Net Income Description: The total amount of money you make AFTER the SS taxes, and other… What you actually bring home. Definition: The amount of Money you bring home after taxes. My Net Income is less than my Gross Income.

9. Disposable Income Description: income remaining after deducting mandatory rent, bills, and charges, available to be spent or saved as one wishes. Definition: The amount of money you have after spending money on essentials. My Disposable Income

10. Federal, State, County Taxes Definition: Money taken out of your check for services that support govt. programs.

11. Social Security Retirement money taken out of your paycheck.

12. Medicare Medical Benefit for when you retire, you still pay for it, just less than usual.

13. IRA, 403, Annuity A financial product sold by financial institutions that is designed to accept and grow funds from an individual and then, upon maturing, pay out a stream of payments to the individual at a later point in time. Annuities are primarily used as a means of securing a steady cash flow for an individual during their retirement years. (Sometimes taking out of a paycheck, sometimes done independently)

14. Finding Net Income CALCULATE YOUR TAKE HOME PAY Enter in your job title and gross pay per year JOB TITLE:Dental Hygienist GROSS PAY PER YEAR:42,500.00 GROSS PAY PER MONTH:3,541.67B4 divided by 12 Federal Tax (15%)531.25B5 times 0.15 FDIC/Med: (9%)318.75B5 times 0.09 State (3%)106.25B5 times 0.03 City (2%)70.83B5 times 0.02 Total (29%)1,027.08B5 times 0.29 Net Monthly Income:$2,514.58B5 minus B10

15. Budget planning Expense CategoryRecommended %Amount Housing35%879.90 Transportation10%251.40 Electric5%125.70 Gas Heat5%125.70 Water2%50.28 Insurance8%201.20 Medical10%251.4 TV/Internet2%50.28 Food3%75.42 Savings10%251.4 Variable expenses10%251.4

16. Mortgage Definition: Money lent in advance for a large purchase, with the understanding that you will pay back the total cost, with extra. Description: Money you borrow from a bank and pay back with interest I have to pay my mortgage, or I may be evicted.

17. House Bills Mortgage: Money lent in advance, with the understanding that you will pay back the PRINCIPAL (total amount of house) with INTEREST (money the bank charges to use their money) a bit every month. Fixed Expense: : bills that don’t change monthly like your cell phone or Internet, mortgage or car loan Variable Expense: bills that vary every month, like electricity in summer versus winter, or clothes budget Utilities: public services like water, electric, and gas.

18. My Humble Home Total cost: $107,000 Monthly payment: $574 1 Story, 3 Beds, 2 Baths Large Back Yard 3947 E Boltinghouse Rd Bloomington, Indiana (The picture was crooked, so I had to fix it.)

19. My first Mortgage Check Wells Fargo Bank March 20,2015 $574 Five-Hundred Seventy Four Ethan Falks Mortgage

20. Vocab: Car Loan: amount of money someone (bank or credit union) gives you up front to pay for a large purchase, with the understanding that you will pay it back over time each month, with interest (That extra money they charge you for using their money) Lease: Renting instead of buying. You are “back loaded” on the monthly payment…meaning you pay less per month, but at the end, you make that up when buying it, or you have to give them back the car. Usually has stipulations, like paying for full coverage on car insurance and mileage allowance.

21. Car 2015 Nissan Versa 1.6 S 217.02 a month 6 year payment

22. Lifestyle During the Budget Planning Unit, I learned that Living by yourself can cost more than you would think. I also learned that when you have a low paying job, you may have to make very difficult decisions about what you want and need.