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Living on a Budget: How much does life actually cost?

Step 1 Create a budget for the job you presently are employed in (200 points)
Go to: http://www.cacareerzone.org/budget/county
Run the simulation for 3 different areas to live using your current yearly salary
We will assume you work 40 hours a week as a full time employee
(Multiply Hourly Wage x 40 hours a week, x 52 weeks)
Annual Income/ Gross Income (before taxes)
County of Residence: Must be on website
Housing (Apartment Rent, Mortgage, etc). Write down which
option you picked and how much it cost!
Utilities
How much are your utility expenses? Write down which ones you
picked?
Food
Which plan did you pick and how much does it cost?
Entertainment
How much money do you need to have a good time?
Write down the option you selected and how much it costs.
Clothes Time
What kind of clothing do you want? Write down the option you
selected and how much it costs.
Transportation
Write down which option you selected and how much it will cost.
Health Care & Dental
Write down the options you selected and how much it costs.
Student Loans/Education
Identify the type of school you plan on attending. You dont have to
go to college.
Saving Money
What % of your money are you willing to save each month? Write
down your answer!
Taxes
You have to pay taxesonce you click summary your taxes will be
filtered in automatically for you.
Monthly Spending
Minimum Annual Salary
My Annual SalaryAnnual Salary Needed
(ex. 71,000 47,715 = +
Can you afford this budget?

Example:
$71,000
Solano
House
$2043
Internet/Mob
ile/Utilities
$150
Home
$150

County 1

County 2

County 3

$19,240

$19,240
$19,240
Sacrament
Richmond
Napa
o
Monthly Spending (Living Expenses)
Friends
Friends
Friends
$240
$196
$237
Internet/Mo Internet/Mo Internet/Mo
bile/Utilities bile/Utilities bile/Utilities
$150
$150
$150
Home
Home
Home
$150
$150
$150

Home
$40

Home
$40

Home
$40

Home
$40

Never
$10

Few Weeks
50$

Few Weeks
50$

Few Weeks
50$

Own/No
Loan
$220
Pay myself
$401

Used
Compact
$350
Parents
$0
State/No
Aid
$130

Used
Compact
$350
Parents
$0
State/No
Aid
$130

Used
Compact
$350
Parents
$0
State/No
Aid
$130

10%
$314

10%
$98

5%
$51

5%
$51

$518

$89

$68

$68

$3,458
$47,715

$1,297
$14,000

$1,145
$13,744

$1,145
$13,744

+$23,285

+$5,240

+$5,496

+$5,496

YES

YES

YES

YES

State/No Aid
$130

There are more questions to answer on this assignment. Scroll Down to page two of this
document to find the questions.
You must use 3 different areas to live. If you do not use 3 different areas, I will not grade this
assignment until you complete all three areas.

Step 2: Reflection Questions: Answer in complete sentences for full credit (100 points)
1. What were the names of the three counties you chose to live in and why did you choose those three?

2. What were some differences in costs related to the three counties you chose?

3. Were you able to get everything you wanted while staying within budget or did you have to make some sacrifices?
What did you sacrifice to live within your means?

4. How would your lifestyle choices alter if you were paid a higher salary? What is you plan for ensuring you will be
paid well later in life?

5. How would this simulation alter if you were to have a child? How would this simulation alter if you were to marry
someone?

Budget Check must be turned in electronically to Turnitin.com and the schoolloop dropbox.

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