1. Picture the lifestyle you would like to have as an adult. What does your home look like? What kind of car do you want to drive? Have you ever really done the math when it comes to planning your future? What kind of job would support the lifestyle you imagine for yourself? How much do you think it would cost to live the life you want?

2. Today’s Learning Goal I will think critically about the benefits of higher education in correlation to the “Cost of Living” by working with classmates to analyze a graph and answer reflection questions.

4. Estimating Costs You will now be presented with charts outlining average “Costs of Living.” Use the information to complete #1-4.

5. Rent Apartment Average Monthly Rent Monthly Income Needed to Afford Rent Annual Income Needed to Afford Rent Studio/1Ba$956/mo$3,200/mo$38,000/year 1Bd/1Ba$1,218/mo$4,100/mo$49,000/year 2Bd/2Ba$1,607/mo$5,400/mo$64,000/year http://lahd.lacity.org/ Apartment Fair Market Rent (FMR) Monthly Income Needed to Afford FMR w/o Assistance* Annual Income Needed to Afford FMR w/o Assistance* Studio$674/mo$2,250/mo$26,960/year 1Bd$807/mo$2,690/mo$32,280/year 2Bd$1,021/mo$3,400/mo$40,840/year Section 8 "Fair Market Rents”: Average Rents:

6. Utility Expenses http://www.bls.gov/ro9/cpilosa_energy.htm UtilityUnit Price Estimated Monthly Use Average Monthly Cost Electricity$0.20/kWh304 kWh/month$60.80 Gas/Heat$1.20/therm30.8 therm/month$36.96 Water$0.004/gallon15,000 gallons/month$60.00 Cable/InternetN/A $55.00-120.00 Cell PhoneN/A $45.00-100.00 Groceries N/A$25-$75/Week$100.00-$300.00 Gasoline$3.95/gallon20 gallons/month$79.00

7. Exit Ticket In a brief paragraph, please summarize what you have learned today about the financial benefits of higher education. How will this affect your planning for the future?