ntroduction
In completing this assignment, you will practice life skills. You will explore different careers and you will prepare a budget based on your career income. You will need to use the internet to find affordable housing and transportation. Your grade will be based upon the criteria which can be found at the bottom of this page.
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First, download the Consumer Handout. You may print this handout and write on it or type directly into the file.
Go to the following website to choose a career. Pick one you are actually interested in. Download and save your career choice and income. Since you are just starting out in your new career, you must use the low end of the salary range for your budget calculations.
So, do you have your career? Do you have your yearly salary? Make sure you download and save it.
Well, guess what? 30% of that money goes to Uncle Sam for taxes. So right now, deduct 30% off of your yearly salary. Take the remaining amount and divide by 12. This is how much money you now have for your monthly household budget.
Use the following percent values to calculate the maximum monthly amount allowed for each category.
| Vehicle | 10% |
| Housing | 25% |
| Food | 15% |
| Savings | 10% |
| Utilities | 20% |
| Entertainment | 5% |
| Other Expenses | 15% |
Enter your answers on your worksheet.
Now, visit the following website to find a place to live which you can afford based upon your monthly budget. You can live anywhere you want in the U.S., but remember, housing on the beach front in Florida is not cheap.
Now you are ready to buy a car. Use the following website to find a used vehicle which will adhere to your monthly budget. This website will help you choose a vehicle and calculate your monthly payment.
Conclusion
I hope that by doing this assignment, you have learned more about the real life experiences of budgeting money and buying a home and a car. To conclude your work, answer the three essay questions on your worksheet
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