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Real World Project Example: Patterson
Part 1 Find an Entry Level Job Find an Apartment Calculate Net Pay Prepare Initial Budget
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Job: Accountant I Company: Duties Requirements
Twin Rivers Foods - Fayetteville, AR Duties AR, AP, inventory and GL management Financial reporting, and analysis Work with all levels of the organization Requirements Bachelor’s degree Two years experience preferred
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Sources
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Paycheck Actualization Sheet
Salaried Paycheck Actualization Sheet INCOME (40 Hour Work Week) Pay Rate: __$19.75____ Weekly Pay Rate (40 hours) __$790_____ Monthly Pay Rate: __$3161____ Annual Pay Rate: __$37,936__ 15% Taxes: ___$5690___ 7.5% FICA: ___$2845___ Health if Single: ___$600_____ Family Health: ___$1200____ Dental if Single: ___$120_____ Family Dental: ___$240_____ Net Pay: ___$28801__ INCOME (50 Hour Work Week) Pay Rate: ____________ Time and a ½ Pay Rate: ____________ Weekly Pay Rate (40 hours) ____________ Time and ½ Pay ____________ Total Weekly Pay Rate (50hrs) ____________ Monthly Pay Rate: ____________ Annual Pay Rate: ____________ 15% Taxes: ____________ 7.5% FICA: ____________ Health if Single: ___$600_____ Family Health: ___$1200____ Dental if Single: ___$120_____ Family Dental: ___$240_____ Net Pay: ____________ $2400/Month
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Apartment Questionnaire 1
Complex Name: _____APT 1___________________________ Address:_123 ABC Street City: Atlanta____ ST: GA Zip: __ Telephone Number:__(888) ___ Income Requirements: ____$2000/mn________________________ ______________________________________________________________________ # of Bedrooms:__3___ # of Bathrooms: ___2____ W/D Connections: Yes or No Monthly Rental Amount: __$750____ Lease Term:____1yr____ Application Fee:__$50___ MARTA Bus Route: Yes or No Bus #: __54__ Distance from Train Station__2miles____ Train Station:__SandySprings______ Closest Supermarket:____Kroger______ Distance to Supermarket:____2 miles_____ Distance to Job__15miles__ Travel Time:_40mn__ Avg Utilities: ____$100______ Utility Company(s):________Georgia Power____________ Crime Statistics:________See attached Closest Sex Offender :____3miles____________ Name: _Amari Notgomery________________ Roommates: Yes or No # of Roommates:___________
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Apartment
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Apartment Questionnaire 2
Complex Name: _____APT 1___________________________ Address:_123 ABC Street City: Atlanta____ ST: GA Zip: __ Telephone Number:__(888) ___ Income Requirements: ____$2000/mn________________________ ______________________________________________________________________ # of Bedrooms:__3___ # of Bathrooms: ___2____ W/D Connections: Yes or No Monthly Rental Amount: __$750____ Lease Term:____1yr____ Application Fee:__$50___ MARTA Bus Route: Yes or No Bus #: __54__ Distance from Train Station__2miles____ Train Station:__SandySprings______ Closest Supermarket:____Kroger______ Distance to Supermarket:____2 miles_____ Distance to Job__15miles__ Travel Time:_40mn__ Avg Utilities: ____$100______ Utility Company(s):________Georgia Power____________ Crime Statistics:________See attached Closest Sex Offender :____3miles____________ Name: _Amari Notgomery________________ Roommates: Yes or No # of Roommates:___________
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Apartment
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Apartment Questionnaire 3
Complex Name: _____APT 1___________________________ Address:_123 ABC Street City: Atlanta____ ST: GA Zip: __ Telephone Number:__(888) ___ Income Requirements: ____$2000/mn________________________ ______________________________________________________________________ # of Bedrooms:__3___ # of Bathrooms: ___2____ W/D Connections: Yes or No Monthly Rental Amount: __$750____ Lease Term:____1yr____ Application Fee:__$50___ MARTA Bus Route: Yes or No Bus #: __54__ Distance from Train Station__2miles____ Train Station:__SandySprings______ Closest Supermarket:____Kroger______ Distance to Supermarket:____2 miles_____ Distance to Job__15miles__ Travel Time:_40mn__ Avg Utilities: ____$100______ Utility Company(s):________Georgia Power____________ Crime Statistics:________See attached Closest Sex Offender :____3miles____________ Name: _Amari Notgomery________________ Roommates: Yes or No # of Roommates:___________
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Apartment
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Apartment Questionnaire 4
Complex Name: _____APT 1___________________________ Address:_123 ABC Street City: Atlanta____ ST: GA Zip: __ Telephone Number:__(888) ___ Income Requirements: ____$2000/mn________________________ ______________________________________________________________________ # of Bedrooms:__3___ # of Bathrooms: ___2____ W/D Connections: Yes or No Monthly Rental Amount: __$750____ Lease Term:____1yr____ Application Fee:__$50___ MARTA Bus Route: Yes or No Bus #: __54__ Distance from Train Station__2miles____ Train Station:__SandySprings______ Closest Supermarket:____Kroger______ Distance to Supermarket:____2 miles_____ Distance to Job__15miles__ Travel Time:_40mn__ Avg Utilities: ____$100______ Utility Company(s):________Georgia Power____________ Crime Statistics:________See attached Closest Sex Offender :____3miles____________ Name: _Amari Notgomery________________ Roommates: Yes or No # of Roommates:___________
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Apartment
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Decision Matrix Question: Come up with a question: Where should I live? Rank Criteria A: B: C: D: Valley Creek Valley Falls Fall Creek The Bend 7 Price 4 7 x 4 2 7 x 2 3 7 x 3 1 7 x 1 2 Access to Marta 2 2 x 2 4 2 x 4 1 2 x 1 3 2 x 3 Safety 3 6 2 4 1 Miles from Job 1 3 3 2 4 Square footage 3 4 1 4 2 Newness 1 4 2 1 5 Application Fee 4 1 1 2 3 Total Add this column Weights:
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Monthly Budget INCOME Rent: ____________ Utilities: ____________
Marta Pass: ____________ Car Payment: ____________ Gas: ____________ Car Maintenance ____________ Insurance: ____________ Food: ____________ Cable: ____________ Phone: ____________ Internet: ____________ Cell Phone: ____________ Clothes: ____________ Entertainment: ____________ Security System: ____________ Savings and Investing: ____________ Hair care: ____________ Childcare: ____________ Credit : ____________ Furniture: ____________ ________________ ____________ ________________ ____________ Total: ____________ Total Needs: ____________ INCOME Week 1: ____________ Week 2: ____________ Week 3: ____________ Week 4: ____________ Gross Pay: ____________ 15% Taxes: ____________ 7.5% FICA: ____________ Health: ____________ Dental: ____________ Net Pay: ____________ Net Pay – Budget = ____________
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Budget Breakdown
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Furnishing/Work Clothes
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Living Room Price Price Price Price Price
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Dining Room Price Price Price Price
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Bedroom Price Price Price Price Price
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Part 2 Find 3 or 4 Houses
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House 1: $124,900 2117 Gorman Grove SE Unit 125 Atlanta, GA 30316
Property Type: Condo Bedrooms: 2 Full Bathrooms: 2 Half Baths: 0 Monthly Payment: $774 Sq Ft: 1201
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House 1: Sources
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House 2: $175,000 813 Charles Bank Avenue Unit 83 Atlanta, GA 30312
Property Type: Condo Bedrooms: 3 Full Bathrooms: 3 Half Baths: 1 Monthly Payment: $1095 Sq Ft: ? Tax:$ 980
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House 2: Sources
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House 3: $219,900 214 Saintvry Path Atlanta, GA 30349
Property Type: Single Fam Bedrooms: 4 Full Bathrooms: 2 Half Baths: 1 Monthly Payment: $1382 Sq Ft: 3301 Clubhouse Tennis Community
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House 3: Sources
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House 4: $124,900 2117 Gorman Grove SE Unit 125 Atlanta, GA 30316
Property Type: Condo Bedrooms: 2 Full Bathrooms: 2 Half Baths: 0 Monthly Payment: $774 Sq Ft: 1201
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House 4: Sources
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Decision Matrix Question: Come up with a question: Where should I live? Rank Criteria A: B: C: D: House 1 House 2 House 3 House 4 7 Price 4 7 x 4 2 7 x 2 3 7 x 3 1 7 x 1 2 Access to Marta 2 2 x 2 4 2 x 4 1 2 x 1 3 2 x 3 Safety 3 6 2 4 1 Miles from Job 1 3 3 2 4 Square footage 3 4 1 4 2 Newness 1 4 2 1 5 Application Fee 4 1 1 2 3 Total Add this column Weights:
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Renting or Owning Fffff gggg ggg dddddFffff gggg ggg ddddd Fffff gggg ggg ddddd Fffff gggg ggg ddddd Fffff gggg ggg ddddd Fffff gggg ggg ddddd Fffff gggg ggg ddddd Fffff gggg ggg ddddd
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Part 3 Find a Car
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Transportation 1 Price Manual miles Leather MPG Space
Maintenance Costs Options Manual Leather Space Storage Navigation
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Car 1 Pros Cons Reviews Source
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Transportation 2 Price Manual miles Leather MPG Space
Maintenance Costs Options Manual Leather Space Storage Navigation
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Car 2 Pros Cons Reviews Source
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Transportation 3 Manual Year Leather Make/Model Space Price Storage
Navigation Year Make/Model Price miles MPG Maintenance Costs Options
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Car 3 Pros Cons Reviews Source
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Transportation 4 Price Manual miles Leather MPG Space
Maintenance Costs Options Manual Leather Space Storage Navigation
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Car 4 Pros Cons Reviews Source
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Decision Matrix Question: Come up with a question: Where should I live? Rank Criteria A: B: C: D: Car 1 Car 2 Car 3 Car 4 7 Price 4 7 x 4 2 7 x 2 3 7 x 3 1 7 x 1 2 MPG 2 2 x 2 4 2 x 4 1 2 x 1 3 2 x 3 Speed 3 6 2 4 1 Size 1 3 3 2 4 Safety 3 4 1 4 2 Storage 1 4 2 1 5 Application Fee 4 1 1 2 3 Total Add this column Weights:
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Final Budget Investments Student Loan
Part 4 Final Budget Investments Student Loan
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Revamped Monthly Budget
Rent: ____________ Utilities: ____________ Marta Pass: ____________ Car Payment: ____________ Gas: ____________ Car Maintenance ____________ Insurance: ____________ Food: ____________ Cable: ____________ Phone: ____________ Internet: ____________ Cell Phone: ____________ Clothes: ____________ Entertainment: ____________ Security System: ____________ Savings and Investing: ____________ Hair care: ____________ Childcare: ____________ Credit : ____________ Furniture: ____________ ________________ ____________ ________________ ____________ Total: ____________ Total Needs: ____________ INCOME Week 1: ____________ Week 2: ____________ Week 3: ____________ Week 4: ____________ Gross Pay: ____________ 15% Taxes: ____________ 7.5% FICA: ____________ Health: ____________ Dental: ____________ Net Pay: ____________ Net Pay – Budget = ____________
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Revised Budget Breakdown
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Investing Monthly Contribution: 250
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Student Loan
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Part 5 Reflection
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Reflection 1. Do you make enough money to pay your expenses and still save? If not what can you do to either increase your income or reduce your expenditures? 2. Do you have enough money to live on your own? Why or why not? 3. Do you have enough money to buy a car? 4. How often can you shop? 5. How realistic do you think this assignment is? 6. How will having a child affect your budget? 7. How would a catastrophic event affect your budget? 8. What did you learn from doing this assignment? 9. What would have liked to learn from this assignment? 10. How much money should you save before you can take a week off?
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Sources
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