Adult Job and Income-5 points

Name_Kaitlin Murphy Real Estate Agent

Salary:39,950
Salary X 70% = _27,965_ / 12 months
Monthly Net Income: 2,330

The Living Environment- Step 1

10 points
This apartment should be located near your job in a positive section of a city
This monthly rent expense should be no more than 25% of your monthly income,
with utilities 30%
Address 6700 Derby Dr, Gurnee, IL 60031
Rent 966$$
Number of Bedrooms-If you choose a
2-Bedroom, assume you will split it.
Type the full amount and then your 2 bedroom
half. 966/2 = 483
You can choose a studio apartment
(one person-minimal living)
Amenities-things included Water, trash removal, parking
Electricity provided $65.00
Internet Service provided $45.00
Cable Service (optional) $$
Cell Phone Package provided
$ 45.00
Living Environment Total 638

Transportation Information- Step 2

25 Points
Car and insurance expenses should be no more than 20% of your monthly income
Search for a car to purchase Cars.com; Carmax.com; Edmunds.com
Make, Model, Year, Mileage 2012 Honda Civic, 30k miles

Picture

MPG-Miles per Gallon 28 city/ 39 highway

Asking Price 12,998
Estimated Monthly
Maintenance
Monthly Maintenance _$30
Under 5 years $30/month
Over 5 years $70/month
Warranty Terms, if any
Purchase Price _12,998__________
Car Loan
Subtract $$_1,299.8_______ down payment (10%)
Calculate payment:
Auto Loan Amount: _11698__________
http://www.bankrate.com/br
Auto Loan Terms: 4 years or 48 months
m/auto-loan-calculator.asp
Interest Rate: 7.30%
Monthly auto loan payment:_282_______
Copy and Paste your results from payment calculator here:

Remember 100/300/50
$500 to $1000 deductible
Car Insurance Paste the results in here:
Shop for your own Auto
insurance.
Assume you are:
-23 years old
-Have 7 years of driving
experience
-Use the car you purchased in
the previous activity as the car
to be insured
Go to this site and do not use
your own social security
number
www.esurance.com

Gasoline Usage
Assume that you drives 34 ___1360_ miles per month/_34_ MPG= _40_ gallons per
miles round trip each day to month
work for 5 days a week for 4
weeks each month.
Calculate this first __1360___ _40____ gallons x $2.40 = $96______

Car Payment, Insurance,

282+95.30 +96= 473.3
Gas, Expenses Total

Weekly Menu Step 3

10 points
This should not exceed 15% of your monthly income
The weekly menu will be multiplied by 4 to equate to a months groceries.

1) Copy or Insert your Menu,

2) Insert your Peapod list for Food and Personal Items
 Entertainment Expenses Step 4
10 points
Find activities for a month and provide pricing. This should not exceed 5% of your
monthly income.
Please include any explanations of expenses when necessary. Go to the websites for
these activities and get some actual prices at these places. (ex. For movie tickets).
Going to friends house requires bringing something such as an appetizer.
Your list of leisure activities should include at least four different types of things to
do.

Assume it will
Monthly
be for the Week 1 Week 2 Week 3 Week 4
Total
current season
Friday movie tennis beach netflix
Saturday beach mini golf movie netflix
Sunday tennis walk dog tennis tennis
Entertainme
$11 $5 $11 $8 $35
nt Total
Putting It All Together Step 5
10 points
Cost Actual Money Spent
Step 1 Living Expenses (25% - 30%)
688
Apartment, utilities
Step 2Transportation (20%)
473.3
Car Payment, Insurance, Maintenance, Gas
Step 3 Food (15%)
Grocery Bill
303.12
Restaurants
Personal Items
Step 4 Entertainment 35
Student Loans - Use the amount from your HR
261.11
Block Student Loan Calculator
Savings $75.00
Emergency Savings $120.00
Health Insurance; company plan $75.00
Total Monthly Expenses 2030.53

Monthly Net Income: $_2330_

From page 1
Total Monthly Expenses $_2030.53__
From above
Total Difference of _299.47_
Subtract and hopefully expenses are not more than income-otherwise-go back and fix
your expenses.

Reflection:30 Points-Please let me know what you have learned!

What I/we learned from this project? Name at least 3 items. (4-6 sentences)
I learned about how to manage all of the different components of living an adult life. I
learned how to shop smart and keep money in mind when making all of my decisions. I
learned that sometimes I will have to sacrifice luxury in order to stay within budget and
stay in a financially stable place. This project helped me put all of this stuff into
perspective so that I have an idea of what I will have to do in my future.

What parts of this project were challenging? Name at least 2 tasks. (3-5 sentences)
It was hard to make sure I was staying within my budget at the same time as trying to
live the kind of lifestyle I want. It was also hard to go through the insurance for me
because insurance is something that Im not very familiar with. Going through the project
was a challenge but I learned a lot from it.
Explain what would apply to your real life. (3-5 sentences)
Using actual websites during the project was helpful because they are resources I will
use in the future. Having experience, even if its just pretend, will be helpful when it is
time to actually plan out my adult life. I will use my experience to make smart financial
choices.