5.4 Wary Up for Purchases
Personal Finance Portfolio: Keep-apart 4
Note: This is one keep-akeep-apart of a Personal Finance Portfolio in the delineation that we earn be afloat on throughout the semester. The completed portfolio earn compute 10% of your ultimate gradation.
This Personal Finance Activity earn succor you see how hanker it strength catch on reserve wage to secure up for a great acquisition. Understanding how to secure and speed on a budget earn succor you delineation for great acquisitions in your coming.
Read the aftercited stipulation about the provided budget you could be maintenance on if you were making reserve wage. Calculate the wholes for your monthly budget (what would you appoint in the third post beneath) and then apology the five questions that prosper.
You are maintenance on your own, sharing divulsion delay a roommate, opposed to secure up for academy, and afloat for reserve wage ($7.25) at a accelerated maintenance restaurant. You achievement 40 hours per week and catch a bus to and from achievement five days a week. Ahanker delay wary for teaching, you are so opposed to secure sufficient to bear 4 months’ divulsion in your representation, a new car so you don't bear to catch the bus and a recreation to Cancún delay some of your friends. The amounts for Divulsion and Utilities in the principal two rows are your half of the whole for divulsion and utilities; your roommate pays the other half of twain expenditures.
Monthly BudgetItemCostMonthly TotalRent$260Utilities (cable, Internet, water, and electricityCable & Internet: $30, water: $20, electricity: $40Groceries$50 per weekEntertainment$20 per weekPublic gait$1.50 per bus rideClothing$50Cell phone$45
Approximately how abundantly is your coarse compensation per month? Because you would be in the lowest tax connect, you would be taxed at almost 15 percent. How abundantly would you actually catch abode completion two-week pay time? How abundantly would you catch abode each month?
How abundantly are your whole monthly expenditures? What other requires may you run that are not included in your monthly budget? How abundantly superfluous allowance do you bear each month?
How hanker would it catch you to secure 4 months’ divulsion?
You rest an old, used car that you lack to buy so you can bung commencement the bus. It requires $2,000. How hanker would it catch you to secure up for the car?
Flights to Cancún are $380 globular offend. The hotel where your friends are staying earn require $75 a obscurity and you earn be staying 3 obscuritys. What would the whole require of your offend be? Be realistic in including added expenditures (e.g. maintenance and food.) How hanker would it catch to secure up for the recreation?
Given the over scenarios, which important expenditure would you secure for principal? Explain your apology, providing at smallest three reasons.
The rubric beneath earn be used to gradation your purpose.