Budget Series Work File
Please answer all of the following questions as you work through the Budget Series. Do not submit your work file until you are done with all the assignments.
Activity 1: Career Path
1. Which career path did you choose? University
2. How much are you going to take home each month? $1000.00
3. Which career path will likely give you the largest income in the future? $25k - $40k per year
Activity 2: Housing Expenses
1. Which housing package did you choose? Package one
2. What is the cost of your housing package? $350 per month
3. What was the main factor that helped you decide on your package choice? Price and location
4. What is a mortgage? A home loan for buying a home.
5. Explain the benefits of owning vs. renting. When you own you will have something to show for your money in the future; something that will be yours. Renting you just give your money away to someone for a place to live, you do not have to do any repairs or upgrades but it will never be yours.
Activity 3: Furnishings
1. Which furnishing package did you select? Package one
2. What is the cost of your furnishing package? $500.00 or $50 per month
Activity 4: Utilities
1. How much is your electricity bill? $85.00
2. How did you arrive at the figure for number 1? $65 basic, $10 washer and dryer, and $10 for colder room.
3. Is there anyway you can reduce your bill? Don't keep the room so cold.
4. How much is your telephone bill? $50.00
Activity 5: Food Costs
1. YOU MUST COMPLETE ALL 21 SLOTS. You may choose to eat out. Simply enter "Out" for that cell and then list the restaurant you plan to eat at ...