1. BALANCING A BUDGET SENIOR MATH – York County School of Technology

2. BUDGET ACTIVITY DETAILS
This is a major project that will take several days to complete and present.
The following slides detail exactly what is needed on each slide.
A reference slide is included for you to utilize when doing research
While working on your power point slides you will be completing the guided information packet that was provided.
A sample of this project is located on the senior math course website: → Activities →Budget Project

3. Timeline/Checkpoints
Day 1 – explore and gather information and save websites
Day 2 – Title page, job page, and net income should be completed
Day 3 – Where you live, utilities, your bank, and transportation
slides complete
Day 4 – Insurance, investments, expenses
Day 5 – Pie chart, findings, bettering your situation pages should
be complete.
Day 6 – Presentation to the class lasting 3-5 minutes

4. Resource Slide
*The following websites may be valuable resources for you to utilize:

5. Slide 1 - Title Page Be sure to include the following:
The title of your project (ex. My Budget Project)
You name
The class
The teacher
Remember to format the slides with color/background and transition
Adding pictures of your house, bank, car etc. on the following slides is encouraged and will enhance your presentation

6. Slide 2 - Your Job Find a Job
this must be a legit job that you can do with your technical training and is available at this time (you must be able to present the posting and/or include it in your power point)
Identify the job, duties, etc.
The job does not have to be within this area but should be relatively close to wherever you choose to live.
You cannot work for a person/company “under the table”

7. Slide 3 - Your Net Income Per Month
You must state your net income per month that you will be setting up your monthly budget
If paid salary you must figure out your monthly wage
If paid hourly you will be figuring out your monthly wage based off of 40 hours straight time
Account for union dues at your job per year if applicable
Remember to convert you gross income into your net income taking out the following deductions
FICA/OASDI
FICA/MEDICARE
STATE TAX
LOCAL TAX
FEDERAL TAX

8. Slide 4 - Where You Live
Find a place to live within 20miles from your job’s location
This must be a real place that is available at the time of this project (you must be able to present the posting and/or include it in your power point)
Anything over 20 miles, please account for 5.00 worth of gas per day.
State what the rent is per month
If buying a house
use 4.5% as your mortgage rate (use a mortgage rate calculator to figure out what you can afford).
State your monthly payments. (escrow, or add in, taxes per year into your monthly payment – use $2, for every $100,000 mortgage and divide into a 12 month period)
You may not live with friends, relatives, etc. You must reside alone.

9. Slide 5 - Utilities
What utilities (if any) does your apartment include or if you own a house you must include the following:
water
gas
electric
sewer
Garbage
Look up the average cost per month per utility for that area and use those

10. Slide 6 - Bank/Credit Union
Search out a local bank or credit union and provide location and the following information
Bank account
Checking account
Can this be backed up with your bank account?
Is there a fee?
What are the penalties for over drafting?
ATM accessible?
Direct Deposit?

11. Slide 7 - Transportation
Transportation between work and home
Public Transportation ($4.00/day) must be accounted for a five day work week and totaled for the month
Own a Car
Add insurance ($1,200/year)
Car expenses ($500.00/year) must be accounted for per month
Calculating gas cost per year, please use 13,000mi as your yearly mileage. Depending on what car you drive and the miles/gallon it gets, depends on your gas cost per year.
A job where you travel over 20 miles, please account for $5.00 worth of gas per day extra.

12. Slide 8 - Insurance Health Car Home
If your job has health insurance benefits, pay $80/month
If your job has no health insurance benefits, pay $50/week
Car
Estimate using the internet based off of your age and your car
Home
If you buy a home, $300/year
If you rent a home, $10/month

13. Slide 9 - Investments Investments State monthly contributions (if any)
Stocks
Bonds
Savings Account
Retirement
Remember we want to start saving as early as possible but your monthly budget may not allow you to right away.

14. Slide 10 - Expenses
Design a working budget (how much you plan to spend on each category below each month)
Food
Clothing
Leisure

15. Slide 11 - Pie Chart
Set up a chart showing where all your money goes (pie chart – found in Microsoft Office/Excel)
Make sure the pie chart is color coordinated and labeled with the appropriate categories and their percentages based off of your monthly spending.

16. Slide 12 - Findings State your findings What you can afford
Break this down (summarize)
What do you have at the end of the month
Are you over budget or do you have money left over?
Why?

17. Slide 13 - How Can I Better My Situation
What can you do to better your situation of living, especially if you are over budget?
Living within your means
Getting a roommate
Second job
Other: whatever else you can think that could better your situation and monthly expenses