The Careers

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					Name: ________________________                                             Quest to Learn
Date: ________________________                                     8 th Grade Codeworlds

                       Budget Project
                             Bruce Smith’s Budget

Bruce Smith earns $32,000 a year and is paid twice a month. Out of his pay 11% is
deducted for federal taxes, 5.3% for state taxes, and 7.6% for Social Security &
Medicare. Out of each check, he has $75 deducted automatically and put into his
savings account and $60 is deducted for his pension plan.

Bruce’s monthly expenses are; rent: $425, electric: $68, phone: $32, cable TV: $26,
groceries: $225, car payment: $325, car insurance: $108, and health insurance:
$135. Also, he has other miscellaneous expenses such as entertainment, lunches,
gifts, clothes, gas money, doctor and dentist bills, etc. Complete the table below and
make a circle graph showing Bruce’s monthly expenses and include a miscellaneous
category with the money he has left over. Be sure to give the graph a title and label
everything clearly!

      Expenses            $ Amount          Ratio          Percent        Degrees
   SS & Medicare
  Health Insurance
 Savings & Pension
Name: ________________________                                                     Quest to Learn
Date: ________________________                                             8 th Grade Codeworlds

                                Budget Project
Your job in this project is to create a monthly budget after you are randomly assigned a career
and a family situation. In your budget you must include housing expenses like utilities, food
and clothing costs, transportation costs (including car insurance & gas money), taxes, savings,
and pension contributions. If you can afford it, you can include entertainment and gift costs.
If you have children living at home with you, you must include clothing and expense money for
them such as lunch and spending money. They may also need money for clubs and activities.

If your job does not provide health insurance, you must include it in your budget. You may
have college loans or child support to factor into your budget. If you have children, you may
have to pay for child care if both spouses work. Don’t forget that families often have repair
bills, medical bills, dental bills, and other unusual expenses. Also think about credit card bills
and vacations. What other expenses might a family have?

                                    Project Requirements:

   1.) Budget Sheets (7 Points). Every dollar of your income must be explained in your
       budget. These sheets are to be included in your final project so they should be neat.
       Do a rough draft of all of your calculations on scrap paper before filling out the final
       draft. The total of all expenses should be equivalent to the amount of your income.

   2.) Create a Table (7 Points). The title should include the words “Monthly Budget.”
       Across the top of the table you need the following headings: Expenses, Amount,
       Ratio, Percent, and Degrees. Your rows should be labeled: Income Taxes, Social
       Security & Medicare, Health Insurance, Housing & Utilities, Transportation, Groceries,
       Savings/Pension, Clothing, and Miscellaneous. You may need additional rows for child
       support or college loans, etc. The last row should be a total for each column.
       Complete this table with the information from the budget sheets.

   3.) Create a Circle Graph (7 Points). Use the information from the table to create a
       circle graph that represents your total monthly budget. Make sure you include a title
       and properly label the sections of the graph and indicate the percent for each item.
       You may use a key. The graph must be completed by hand, not by a computer. Use
       color on the graph.

   4.) Write 3 Paragraphs (7 Points). The first two paragraphs should describe what
       decisions you had to make to balance your budget. You must explain why you made
       those decisions. Explain whether or not there were certain expenses that you had to
       cut out because of a lack of money. The third paragraph explains what you learned by
       doing this project. Every student must turn in his or her own paragraphs.

   5.) Create a Title Page (2 Points). The title page must be creative and could include a
       drawing, collage, or graph. The names of all group members must be recorded on the
       title page.

Group of three: _______________ , ________________ , _____________
Name: ________________________                                            Quest to Learn
Date: ________________________                                    8 th Grade Codeworlds

                              The Careers!
Career A:
You graduated from high school and have been working full time ever since then. You
have a job working for a department store. Because you are reliable and competent,
you have been promoted and you are now a department manager. Your monthly
salary is $2425. You get health benefits for yourself and you get a two-week paid
vacation. For $128 a month you can get family health coverage.

Career B:
You have always been interested in sports. You majored in journalism in college and
are a public relations officer for a sports team. Your monthly income is $3600. Your
company pays most of your health insurance. You must pay $45 for individual
coverage or $168 for family coverage.

Career C:
You dropped out of high school. It was difficult but eventually you got your diploma
by going to night school while you worked at a restaurant during the day. You are
now a cook in a restaurant and your monthly income is approximately $1810 a month.
You have no benefits and no paid vacation. You can get individual health insurance
for $126 month and family coverage for $328 a month.

Career D:
You went to college and majored in business. A credit card company hired you after
graduation. You have had several promotions. In addition to your monthly salary of
$4,375 your company provides family health insurance, a pension plan, and stock
options. You get three weeks of paid vacation a year.

Career E:
You worked very hard in school and were an excellent student. You majored in
science in college and then went to medical school. It took a long time and was very
expensive. You have a lot of loans to pay back. You have been practicing medicine
for some time. Your monthly salary is $10,500. Your health insurance, individual or
family, is paid by your business. You are paying $1300 a month on your school loans.

Career F:
You went to a technical high school and learned carpentry. You are now working as a
carpenter for a construction company. Your monthly income averages $2950. Since
you are a foreman, your company provides health insurance for you and you get a
week of paid vacation. You can get additional family health coverage for $178 a
Name: ________________________                                          Quest to Learn
Date: ________________________                                  8 th Grade Codeworlds

                             The Families!
Family #1:
You are single and have no children.

Family #2:
You are married with three children. Your spouse does not work outside the home.

Family #3:
You were married but now you are divorced. You have two children who live with
your former spouse. You live alone. Your spouse provides your children’s health
insurance. You pay child support, which depends on your income. If you are in
“Career A” pay $651 a month, “Career B” pay $870, “Career C” pay $475, “Career D”
pay $1000, “Career E” pay $2956, or “Career F” pay $760.

Family #4:
You are married but you and your spouse do not have any children. Your spouse
works and earns $2,500 a month. Your spouse has health insurance coverage at

Family #5:
You are married. You have five children living with you. Two are you children and
three are children of your spouse from a previous marriage. Your spouse works and
earns $1600 a month.

Family #6:
You are married. You and your spouse have four children. Your spouse works part-
time and earns $675 a month.
Name: ________________________                                                    Quest to Learn
Date: ________________________                                            8 th Grade Codeworlds

                     Monthly Budget Sheets!
Names:        ______________________ Career: ________________
              ____________________ Family: ________________

Your monthly income: __________ Spouse’s Monthly Income: __________

Total monthly income:

Add your income and your spouse’s income: ___________

Yearly income:

Calculate yearly income from the total monthly income above: __________

Income Taxes:

Depending upon where you live, you could pay federal, state, county, or city income taxes.
The number of dependents you have, the deductions you have, and many other factors affect
the amount of income taxes you pay. Usually, the more you make the higher the percent of
your income you have to pay. In this project this will be simplified.

Circle the range and taxes that apply to your family income:

               Salary Range                               Percent Paid in Taxes
               $850 - $1499                                       8.5 %
               $1500 - $2499                                      11.8 %
               $2500 - $3499                                      14.5 %
               $3500 - $4499                                      17.5 %
               $4500 - $6499                                      20.2 %
               $6500 - $8499                                       26 %
               $8500 and up                                       31.5 %

Family Income _____________ x _____________ % ÷ 100 = __________

Social Security & Medicare Deduction:

Multiply your family income by 7.6% to determine the amount of social security you will pay.

Family Income _____________ x _____________ % ÷ 100                 = __________
Name: ________________________                                                     Quest to Learn
Date: ________________________                                             8 th Grade Codeworlds

Child Support:

If you have Family #3, list your child support here: _____________

Health Insurance:

Review what coverage is provided to you by your job and what kind of coverage you need.
Determine how much you will have to pay, if anything, in order to have health insurance

Health Insurance coverage costs: _____________

Housing & Utilities:

Circle your choice of housing below:

          Housing                              Rent                          Utilities
    1 bedroom apartment                        $425                             $65
    2 bedroom apartment                        $650                             $83
         Small house                           $700                            $103
        Medium house                           $810                            $135
         Large House                         $1,395                            $195
        Luxury House                         $3,339                            $265

Subtotal Rent & Utilities: _____________

Additional Utilities: Select a cost within the range.

       Internet                    Phone                   Cable TV             Subscriptions
  RCN (Queens) $37              Pre-paid $30                  None                Netflix $10
     Time Warner
    (Manhattan &            Plain Cell Phone $45            RCN $40                Hulu $10
    Brooklyn) $60
  Verizon IO (Bronx)          Smartphone $8              Comcast $45             HBO Go $10
                          Unlimited 4G Data $90

                               Land Line $20

Also, utilities include Gas, Electric, and Water Costs. For each person in your family multiply
by $30 per person.

Total Housing & Utilities: _____________
Name: ________________________                                                    Quest to Learn
Date: ________________________                                            8 th Grade Codeworlds


You need to have a way to travel. Circle your choice for your mode of transportation below.

    Mode of Transport                       Cost                         Insurance
           Old car                      $0 – paid off                   $45 a month
          Used car                           $98                             $63
       Cheap new car                        $163                             $70
      Average new car                       $263                             $83
       Luxury new car                       $440                             $98
      Public Transport                      $118                             $0
             Bike                            $10                             $0
          Walking                            $0                              $0

For each car add $125 a month for maintenance and gas: __________

Transportation Costs: _____________


You gotta eat! You must include a minimum of $100 per adult living in the home and $50 per
child to cover grocery costs. You can put more money away for food if you think that you’ll go
to a restaurant more than once during the month.

Grocery Expense: _____________

Savings & Pension:

You must have money put aside for an emergency and for when you retire. Decide how much
money you want to save every month in your savings account, credit union, or IRA
(Individualized Retirement Account).

Savings & Pension Expense: _____________

Clothing & Spending Money, etc:

Clothing, shoes, haircuts, lunch money, etc., are common expenses. Determine how much
you would like to plan on spending in your budget for these items. List at least three items
below and the amounts you think you might spend.

   1. ____________________________
   2. ____________________________
   3. ____________________________

Clothing & Spending Expense: _____________
Name: ________________________                                                     Quest to Learn
Date: ________________________                                             8 th Grade Codeworlds


School loans (Career E), child care (Family #5 & 6), credit card bills, furniture, and car and
appliance repair bills are common expenses. List these expenses here. If you have children
and both spouses work, explain how much you will spend on child care here. Also consider
whether or not you will be able to save for your children’s college education.

   1. ____________________________
   2. ____________________________
   3. ____________________________

Other Expense: _____________

Entertainment, Gifts, Luxuries:

Decide how much you would budget each month for entertainment, gifts, vacations, etc. Make
sure you have extra money in your budget. List how you might spend this money:

   1. ____________________________
   2. ____________________________
   3. ____________________________

Fun Money Expense: _____________

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