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PERSONAL FINANCE PROJECT

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PERSONAL FINANCE PROJECT Powered By Docstoc
					                                    PERSONAL FINANCE PROJECT
       Your job is to create a personal monthly budget which you will keep track of using a bank
register and checks. This budget will be maintained the first 10 weeks of this course. You will:
   Be assigned a “job” which you will research where specifically you will be working and
     approximately how much you will earn each week.
   You will have to find an apartment. You will take on one roommate. You will need to create a
     contract between you and that person detailing who is responsible for what each month. You
     will both need to sign this “roommate agreement”.
   You will need health insurance.
   You will need to pay all of your utilities which include electric, gas, cell phone, internet, water,
     and cable as well as pay for groceries. These amounts will be given to you.
   You will buy a car. You will have to research your car’s price and its payment each month. You
     will need to research insurance and premiums and will be assigned a set amount for gas each
     week.
   You will need to anticipate and deal with some of life’s unexpected expenses

                             You will need to cite where you got your information.

   Throughout the 10 weeks, you will have hidden expenses. I will simply tell you that you owe a
certain amount and you will have to incorporate that into your checking account balance. Your bank
   register will be updated sometimes daily and at other times only a few times a week. You are
 responsible for bringing your register to class every day and if you’re absent, you need to see me
                 or another student about what you missed in terms of the project.

My Job:_______________________________________________________
Due dates:
  1. Your research on your job, apartment, and transportation are due Monday September 13th.
      Our transactions will begin that week.

    2. Your register is due to me on ____________________.

Grading:
The project will be graded based on the rubric on the next sheet.

                             For each day your research is late, you lose 5 points.
                             For each day your register is late, you lose 5 points.

Utility costs per month:                                 Other monthly bills:
(split in ½ with roommate)
ELECTRIC-$50                                             AUTO FUEL-$120
GAS-$70                                                  Car payment: __________
WATER-$5                                                 Car insurance: __________
CABLE/INTERNET/CELL PHONE-$150                           Rent: _________
GROCERIES-$200                                           Health Insurance: ___________
                              0                         2                          4                         6
Register            Missing 4 or more         Missing 3 or less         Missing only 1             All transac tions are
completeness:       transactions.             transac tions.            transac tion.              present.

Checking account
Register            There are 3 or more       There are 2 or less       There is only 1            There are no
                    mi stakes in the          mi stakes in the          mi stake in the            mi stakes with the
accuracy:
                    checking register.        checking register.        checking register.         ma th in the c hecking
Checking account
                                                                                                   register.
Register balance:
                                                       X                          X
                    There is a nega ti ve                                                          There is a posi ti ve
                    balance in the                                                                 balance in the
Checking account
                    checking account.                                                              checking account.
Register
                                                       X
                    Savings account was                                 Savings account was        Savings account was
accuracy: Savings   not used or recorded                                used accura tely but       used and recorded
                    accurately.                                         not recorded               accurately.
account                                                                 accurately.
Register balance:
                                                       X                          X
                    Savings account ha s                                                           Savings account ha s
Savings account     less than $500 in i t.                                                         at least $500 in i t.

Register:           The checking account      The c hecking account     The c hecking account      The c hecking account
Checking account    maintained a posi ti ve   maintained a posi ti ve   maintained a posi ti ve    maintained a posi ti ve
                    account balance           account balance           account balance            account balance
misuse              throughout most of        throughout most of        throughout most of         throughout the
                    the quarter but went      the quarter only          the quarter only going     quarter.
                    into the savings more     going into the savings    into the savings onc e.
                    than twice.               twice.
Job information
                                                       X                          X
                    The job informa tion                                                           The job informa tion
                    was incomplete.                                                                was complete
completeness
                                                                                                   including proper
                                                                                                   cita tions.
Job information     There are 3 or more       There are 2               There is 1 inaccuracy      The job informa tion is
                    inaccuracies in the       inaccuracies in the       in the job informa tion.   accurate.
accuracy
                    job informa tion.         job informa tion.
Apartment
                                                       X                          X
                    The apartment                                                                  The apartment
information         informa tion was                                                               informa tion was
                    incomplete.                                                                    complete including
completeness                                                                                       proper ci ta tions and
                                                                                                   roomma te agreement
                                                                                                   if necessary.
Apartment           There are 3 or more       There are 2               There is 1 inaccuracy      The apartment
                    inaccuracies in the       inaccuracies in the       in the apartment           informa tion is
information
                    apartment                 apartment                 informa tion.              accurate.
accuracy            informa tion.             informa tion.
Transportation
                                                       X                          X
                    The transporta tion                                                            The transporta tion
                    informa tion was                                                               informa tion was
information
                    incomplete.                                                                    complete including
completeness                                                                                       insurance and gas if
                                                                                                   necessa ry.
Transportation      There are 3 or more       There are 2               There is 1 inaccuracy      The transporta tion
                    inaccuracies in the       inaccuracies in the       in the transporta tion     informa tion is
information
                    transporta tion           transporta tion           informa tion.              accurate.
accuracy
                    informa tion.             informa tion.
My Job: __________________________________________

My company: ____________________________________________

Hourly wage: _________         Hours working each week: ________

Weekly income (take home pay): __________

Person Spoken to:____________________________________________________________

Contact Info (Address/Phone Number/Email)________________________________________

__________________________________________________________________________

What specifically will I do?




My apartment address: ________________________________________________________

My rent: _________        My roommate: ___________________________________________

*Remember, you need a roommate agreement which must be attached to this sheet and signed by

both you and your roommate.

Manager spoken to:___________________________________________________________

Contact Info (Email,Phone#,Address):_____________________________________________

__________________________________________________________________________




My car (Make/model/year): ____________________________________________________

Sticker price: _____________        Interest rate: ________   Monthly payment: ____________

Sell price:_______________

If you purchase your car through a dealership:

Car Dealership:______________________________________________________________

Sales Person:________________________________________________________________

Contact Information for sales person (phone number/email address):

__________________________________________________________________________
If you choose to get a bank loan instead of going through a dealership:

Bank Name:_________________________________________________________________

Bank info (address/phone #) :___________________________________________________

__________________________________________________________________________

Loan rate: _________________           Monthly Payment: ________________

Contact person: ________________________________________________



Insurance carrier: ____________________________________________________________

Address of carrier: ___________________________________________________________

Person Spoken to:____________________________________________________________

Phone Number/Email:__________________________________________________________

Monthly payment (premium): ______________

Main points of my policy:




Health Insurance:

Who will you get it through? ____________________________________________________

How much will it cost (premium)? _________________________________________________

Who is your Primary Physician? __________________________________________________

What is your coverage? (co-pays, hospitalization, office visits)




Total monthly bills:                                      Total Income:
Utilities (including gas for                       Hourly wage: _________
car)                                                               X (40-50 hrs)
Car payment
                                                   Answer:
Auto Insurance
                                                                   X          .8
Health Insurance
Rent                                               Take home pay:

      Add the above up for total: ___________                      -           (total monthly bills)

                                                                                   (left over income)

				
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