MAKING ENDS MEET

1. MAKING ENDS MEET Personal Budget for Type your name or family name

2. ABOUT ME • Tell me about yourself? • Where do you live • Are you single or married? If you’re married what is your spouse’s name? • Do you have any roommates? If so, what are their names?

3. Where my money comes from • List your job title and describe what you do. • List your starting salary • If you choose the married option: Does your spouse work? List his/her job and their starting salary. • Add a job related picture to this slide

4. Paying Taxes! • Explain the importance of paying taxes. Why do we do it and where does our money go? • Take your total income from the previous slide and multiply it by 28%. • That is how much you have to subtract for your taxes. • What is your net income after taxes? Include yearly and monthly amounts

5. SAVINGS -- Investing in me! • If you want to retire comfortably, you need to start treating yourself like a bill! PAY YOURSELF FIRST! Explain, in your own words, why saving is important. Tell me the type of things you are saving for. • Multiply your yearly income after taxes by 10%. Divide that by twelve. • Being the smart and mature young adult that you are, that’s how much your investing each month! You’ll be a millionaire by the time your retire if you keep this up! • ERASE MY INSTRUCTIONS! Don’t leave my words on this slide!

6. Where I live • Where do you live? • How much does it cost per month? • What does it include? • How much is Renter’s Insurance? • Include a suitable picture on this slide!

7. How I get around town • Do you have a car or are you using public transportation? • Go online and price out the costs for your choice. • Tell me about your choice? If it is a car: Is it new or used? Do you own or lease? How much is your monthly payment? How much is insurance? How much is gas? • Include a picture on this slide

8. Debt Payments • Estimate the monthly cost of any student loans you may have had to take to complete your college education! • You better be able to defend this slide! How are you really paying for college? How much help from parents? How much will need to be borrowed? What does tuition really cost. This slide requires research and you must be able to defend this number! • Show your math. Include tuition costs (undergrad and grad school) and the results from the debt loan calculator. • Don’t just say, “I’ve got it covered Ms. G. I got scholarships.”

9. Food and other household items! • Look at your options in the packet of instructions! Make your choices and total up your bill! • Tell me about your choices and display your total. • If you don’t follow the instructions you will lose points! • Include an appropriate picture on this slide.

10. My phone bill • Tell me about your decisions regarding telephones. • Do you have a phone in your house? What does it cost? • Do you have a cell phone? What plan did you choose? How much does it cost? • Include a picture on this slide.

11. My utilities expenses • How much do you estimate spending per month for heating and electricity? • List the amounts here. • Explain how you came up with your dollar amounts. • Include a picture

12. Personal Care Expenses • It is important to look good! So List your personal care expenses here. • Should include haircuts at a minimum. Can include more if you decide that they’re important to you! • Tell me about your choices? How much is this going to cost you per month? • Include a picture on this slide!

13. Clothing Budget • How much money do you need to spend per year on your wardrobe? • Be sure to take your job into consideration. Do you need to have professional attire for work? • Explain and give me an approximate yearly and monthly total for your clothes! Make sure you can defend your number!

14. TV and Computer Expenses • List your cable television expenses. • What package did you choose and how much does it cost per month? • List your computer expenses? Do you have internet access? How much does it cost each month. • Include pictures on this slide.

15. Living it up! • Look at the instruction sheet and make your entertainment choices from the list provided! • Tell me about them here. What did you choose and how much is your total budget for entertainment each month? • Include a picture or two on this slide.

16. Vacation Expenses • A vacation is mandatory. It can be cheap, but you need to take one! • Where are you going on vacation? How much does it cost? • Divide the total cost by twelve! That’s how much you have to put away each month to be able to afford your trip! • Awesome! Have fun!

17. THE BOTTOM LINE • After finishing your budget in Excel, bring the numbers back to this slide. • Make sure your budget is in the black. Tell me how much extra money you have left over per month. • Did you ever experience scarcity during this project? The first time you put the numbers in, where you over budget or under budget? Was there a time when you had to make a tradeoff? What was it? • Talk about some of the opportunity costs of your particular budget. • After making the necessary adjustments, what are your final numbers?

18. YOUR FINAL BUDGET THIS CHART MUST BE DONE IN POWERPOINT! Don’t copy/paste from Excel

19. In Conclusion • Tell me at least five things you learned during this project! No one word answers. I want complete sentences and some real thought! Feel free to take this onto more than one slide.