Adult Job and Income-5 points

Name: Chase Werfel Occupation (insert here from Career Flyer): Business Analyst
Salary: $58689
Salary X 70% = $41,082.30 / 12 months= $3,423.53
Monthly Net Income: $3,423.53

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%
2601 Soldiers Home Road, West Lafayette, IN
Address
47906
Rent $610
Number of Bedrooms-If you choose a
2-Bedroom, assume you will split it.
Type the full amount and then your
1 bedroom
half.
You can choose a studio apartment
(one person-minimal living)
Amenities-things included AC, heating, washer/dryer, tub, shower
Electricity provided $65.00
Internet Service provided $45.00
Cable Service (optional) $0
Cell Phone Package provided
$ 45.00
Living Environment Total $765
https://www.apartments.com/2601-soldiers-home-rd-west-lafayette-
in/yr552nv/
Couldnt copy and paste pictures so I just put the link above.

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 2007 Hyundai Elantra Limited
Picture

MPG-Miles per Gallon 30

Asking Price $8000
Estimated Monthly
Maintenance
Monthly Maintenance: $30
Under 5 years $30/month
Over 5 years $70/month
Warranty Terms, if any None
Purchase Price: $8,000
Car Loan
Subtract $800 down payment (10%)
Calculate payment:
Auto Loan Amount:$7,200
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: $173
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
miles round trip each day to $680 miles per month/30 MPG= 22.67 gallons per
work for 5 days a week for 4 month
weeks each month.
Calculate this first: $680 22.67 gallons x $2.40 = $54.40

Car Payment, Insurance, $54.40+$156.67+$173= $384.07 monthly

 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.

Menu for Meals: https://drive.google.com/open?

id=1M9cdHWu_Czw0Ey7mSYm1QxOWdmS-
bnUkcdATs8dsquMu7rZ00nvPoPZ4Xf6YugzzXXF8dZ3A029RLBZv

Peapod List: https://drive.google.com/open?

id=0B_jl48xboaSzWEN3SnpHNk1DZk0

Total: $354.26 per month

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
Run around
Nine Irish Friends Nine Irish
the
Friday Brothers Pub: house: $3 for Brothers: $43
Neighborhoo
$20 chips $20
d: Free
Run around
Soccer at
Spikeball: the
Saturday Movie: $10 open gym: $20
Free neighborhoo
$10
d: Free
Soccer at Friends
Visit Parents: Spikeball:
Sunday open gym: house: $3 $13
Free Free
$10 for chips
Entertainme
$30 $13 $10 $23 $76
nt Total
 Putting It All Together Step 5
10 points
Cost Actual Money Spent
Step 1 Living Expenses (25% - 30%)
$765.00
Apartment, utilities
Step 2Transportation (20%)
$384.07
Car Payment, Insurance, Maintenance, Gas
Step 3 Food (15%)
Grocery Bill
$354.26
Restaurants
Personal Items
Step 4 Entertainment $76.00
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 $2110.44

Monthly Net Income: $3423.53

Total Monthly Expenses: $2110.44

Total Difference: $1313.09

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 that managing expenses is going to be a lot harder than I thought. Although I
can cut back on things like entertainment and groceries, there are so many other more
expensive things such as car insurance and rent that will eat up the majority of my
budget. And those things are almost necessities so it would be very difficult to cut back
on those. I also learned that finding an apartment and a car thats right for me is a lot
more difficult than I thought. In the future, Ill have to think about both of those things
extremely carefully.

What parts of this project were challenging? Name at least 2 tasks. (3-5 sentences)
Picking the right car and right apartment were probably the most challenging things for
me. I did have a little trouble with groceries though because I wanted to go as cheap as
possible, but ending up being short on food when I was done. I had to go back and buy a
few more things even though I was hesitant about spending too much.

Explain what would apply to your real life. (3-5 sentences)

Pretty much everything from this project is applicable in real life. Searching for the right
car and getting the right insurance quote, picking the right apartment, and managing
grocery and entertainment expenses are all things I will have to know how to do in the
future. However, I do think in the future that my entertainment expenses wont be as
planned out as they are on this project. Random opportunities to do things will come up
all the time, and Ill just have to use my best judgement as to whether I want to spend
money on those things or not rather than relying on a calendar.