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A Car for College?

A Car for College?. Student Name. It All Starts with the Right Job Trying to Catch a Ride. Minimum wage: $5.85 per hour Working 20 hours per week during school Working 40 hours per week during breaks Monthly pre-tax income: $468/$936. My Budget before a Car. Small Car for a Small Budget.

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A Car for College?

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  1. A Car for College? Student Name

  2. It All Starts with the Right JobTrying to Catch a Ride • Minimum wage: $5.85 per hour • Working 20 hours per week during school • Working 40 hours per week during breaks • Monthly pre-tax income: $468/$936

  3. My Budget before a Car

  4. Small Car for a Small Budget • 2008 Chevrolet Aveo Sedan • GMAC financing @ 6.9% • Price: $14,805 • Down payment: $6,000 • 60 months • $173.93 per month • 1.6 liter, 4-cylinder • 4-speed automatic • 23 mpg, city/32 mpg, highway

  5. A Car for College - Possible or Not? Student Name Jan. Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec $ 2,614 $ 2,642 $ 2,469 $ 2,497 $ 2,525 $ 2,353 $ 2,778 $ 3,204 $ 3,329 $ 3,357 $ 3,385 $ 3,412 Beginning Balance Income 468 468 468 468 468 936 936 936 468 468 468 468 Taxes 70 70 70 70 70 140 140 140 70 70 70 70 Vehicle 174 174 174 174 174 174 174 174 174 174 174 174 Fuel & Oil 116 116 116 116 116 116 116 116 116 116 116 116 Clothes 200 200 300 Entertainment 80 80 80 80 80 80 80 80 80 80 80 80 Total Expenses 440 640 440 440 640 510 510 810 440 440 440 440 $ 2,642 $ 2,469 $ 2,497 $ 2,525 $ 2,353 $ 2,778 $ 3,204 $ 3,329 $ 3,357 $ 3,385 $ 3,412 $ 3,440 Ending Balance $ 182 Interest Rate + 2% $ 166 Interest Rate - 2% My Budget with a Car

  6. Web Sites Used • www.federalreserveeducation.org • www.dol.gov/compliance/topics/wages • www.chevrolet.com

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