CONGRATULATIONS!

1. CONGRATULATIONS! 1st PERIOD Kolton & Ariel Matt & Chanice Fabian & Shay George & Haley Trent & Shatavia Datrin & Kierra Michael & Bibiana Scott (Single) Adam (Single)

2. CONGRATULATIONS! 2nd PERIOD Enrique & Kayla Raul & Tonya Dack & Ieshia Amancio & Jessica Dylan & Xochitl

3. CONGRATULATIONS! 4th PERIOD Trey & Hilary Danny & Kim Coleman & Laura Roger & Seferina Andres & Erin Austin & Keunna Dyllan & Amber Hallie (Single)

4. THE HONEYMOON IS OVER…

5. THE GAME OF REAL LIFE BUDGETING IN THE REAL WORLD TASK GRADING FOLDER PART I PART II PART III PART IV PART V

6. TASK Each couple will – • Create a monthly budget for an average household, • Evaluate the advantages and disadvantages of renting and purchasing a home, including the steps necessary to find a place to live, • Demonstrate the ability to write checks and balance a check registry, • Develop a weekly menu for the entire household, and create a shopping list for groceries, • Evaluate costs and considerations of maintaining a home and monthly budget.

7. GRADING • This ENTIRE project will be neat, TYPED, and compiled into a 3-hole-punch folder to turn in. • Each “couple” will turn in 1 folder. (You can buy a folder at the FBLA store) • Use Rubric to see breakdown of each part. • This project counts as a TEST GRADE and you SIX WEEKS TEST. • If you turn in this project LATE, you must pay a $100 fee to me in your Miscellaneous Expenses AND 10 points will be deducted for each day it is late. HOME

8. FOLDER The following MUST be included in your folder – • RUBRIC - DO NOT HOLE-PUNCH! Place in inside pocket of folder. • PART I – BRINGING HOME THE BACON – Monthly Budget Spreadsheet • PART II – HOME SWEET HOME – Rental Ad and Questionnaire • PART III – BILLS, BILLS, BILLS –Check Registry and Checks • PART IV – WHAT’S FOR DINNER? – Weekly Menu and Grocery Receipt • PART V – SUMMARY QUESTIONNAIRE *With the exception of CHECKS, all of the above can be found on my website. HOME

9. PART I BRINGING HOME THE BACON HOME

10. PART I - BRINGING HOME THE BACONPersonal Monthly Budgeting • Gross Salary: Total Annual Income • With-Holdings: 30% of Gross Salary for Taxes and Insurance • Net Annual Income: $$ You Actually Take Home • Monthly Disposable Income: Amount of $$ Allotted for each Month for Expenses. Gross Salary - With-Holdings (Gross Salary x .30) Net Annual Income Net Annual Income = Monthly Disposable Income 12 HOME

11. HERE COMES THE STORK…

12. LITTLE BUNDLES OF JOYChildren If you have children… • Subtract $150 per month for Day Care for each child under the age of 5. Make check payable to Alto Day Care in MISCELLANEOUS EXPENSES. • Subtract $150 per month for Teenage Drivers’ Insurance for each children of driving age (16+). Make check payable to Teenager Drivers’ Insurance Co. in MISCELLANEOUS EXPENSES. • Subtract $100 per month for PTO Dues for children in elementary school (Age 5 – 11). Make check payable to Alto PTO in MISCELLANEOUS EXPENSES. HOME

13. PART I - BRINGING HOME THE BACONPersonal Monthly Budgeting • If you have children, add $$ to your monthly disposable income. This amount will be your new total monthly allowance. • Classify Expenses as Fixed, Variable, and Periodic. • All expenses will be paid for by check. ($24/book) • Account for all transactions (deposits/withdraws) in CHECK REGISTRY. • You must have something in the NOTES section. (EX – Problem Card #1, Suddenlink, Account #...) HOME

14. PART I - BRINGING HOME THE BACONPersonal Monthly Budgeting Miscellaneous Expenses Include – Checks ($24) Problem Card #1 Problem Card #2 HOME

15. PART II HOME SWEET HOME HOME

16. RENTING ADVANTAGES 1. 2. 3. 4. 5. DISADVANTAGES 1. 2. 3. 4. 5. HOME

17. BUYING ADVANTAGES 1. 2. 3. 4. 5. DISADVANTAGES 1. 2. 3. 4. 5. HOME

18. RENTERS GUIDE 101 QUESTIONS TO ASK - How many bedrooms/bathrooms? - Do I have to sign a year-long lease? - What is the deposit? - Do I have to pay first and last month’s rent up front? - Are utilities included in the rent? - Can I have pets? - Is the stove/hot water heater gas or electric? - Where can I park? Do I need a permit? - Can I receive mail here or do I need to rent a PO Box? - Am I allowed to make changes? (paint, carpet, tile) - Am I responsible for the upkeep of the yard? HOME

19. AMENITIES TANGIBLE • Central Air/Heat • Indoor Washer/Dryer Hook-Up • Garage • Dishwasher • Furnished • Walk-In Closets • Pantry • Patio/Pool • Fireplace INTANGIBLE • Quiet Neighborhood • Good School District • Nearby Activities HOME

20. PART II - HOME SWEET HOMERenting vs. Buying – Finding a Home • Find a place to rent that fits within your budget. • May be a house, apartment, or duplex. • You CANNOT live with friends and/or relatives. • Find an ad in a local newspaper or online. Listing needs to be within a month. (Classifieds Section) • Include a copy of the rent ad in your folder. • If you have children, you must have at least a 2 bedroom rental. • If you live OUTSIDE OF ALTO, subtract $200 for gas each month. Make check payable to Alto Gas Co. • Complete Part II HOME SWEET HOME. HOME

21. PART III BILLS, BILLS, BILLS HOME

22. PART III - BILLS, BILLS, BILLSCheck Writing and Balancing the Checkbook • All expenses will be paid for by check. ($24/book) • Account for all transactions (deposits/withdraws) in Check Registry. - Starting Balance will be TOTAL MONTHLY ALLOWANCE. - All transactions in the WHITE. - Keep a running balance in the GREY. • Everyone will have Standard Monthly Expenses: Cable/Internet (Suddenlink Communications - $62.50) Car Payment (Cherokee County Credit Union) *Each spouse must have his/her own vehicle. You may choose to buy a vehicle for any child over the age of 16. Cell Phone (Sprint) Groceries (You Decide) Rent (You Decide) Savings (No Check, but you MUST reserve some amount for Savings.) Utilities (TXU Energy) • Positives will be DEPOSITS in your checking account. • All checks must be written in INK. If you make a mistake, you must VOID the check. HOME

23. PART IV WHAT’S FOR DINNER HOME

24. PART IV - WHAT’S FOR DINNER?Weekly Menu • Plan 1 week’s worth of meals (21) using chart. • You must eat at every mealtime. • You cannot eat the same meals every day. • May eat out ONCE during week. (Write the name of the restaurant on your chart, and write check to restaurant for $35.) • You can eat leftovers ONCE. (Write “LEFTOVERS” on your chart.) • Be specific. HOME

25. PART IV - WHAT’S FOR DINNER?Weekly Menu • If you have an infant, must add baby food to grocery list. • Create your Grocery Shopping List for the ingredients needed. • Be specific – 1 6-pk soda, 5 lbs ground beef, 1 loaf of bread, 1 bag Doritos, 4 Lunchables, etc… • Go to local store to figure the cost of groceries. • Add to Monthly Personal Budget and make check payable to grocery store of your choice. (If you shop at more than 1 store, you must write more than 1 check.) HOME

26. PART IV - WHAT’S FOR DINNER?Weekly Menu SAMPLE GROCERY LIST HOME

27. PART V SUMMARY QUESTIONNAIRE HOME

28. PART V – SUMMARY QUESTIONNAIREDid We Make Ends Meet? • Complete the SUMMARY QUESTIONNAIRE online and add to folder. HOME

29. LIFE HAPPENS Positives and Problems HOME

30. THIS COULD BE A PROBLEM… • Each couple will draw 2 Problem Cards. • You MUST pay the expense. • Include in the MISCELLANEOUS section of your budget spreadsheet. In the NOTES section indicate Problem Card #1, Problem Card #2. • Make checks payable to the proper entity, and include in your CHECK REGISTRY. HOME

31. LOOK ON THE BRIGHT SIDE… • Each couple will draw 2 Positive Cards. • Positive Cards will ADD money to your monthly disposable income. • Add as a DEPOSIT in your CHECK REGISTRY and include Positive Card #1, Positive Card #2 in the “Description”. HOME