Adult Job and Income-5 points

Name: Julia Rubina Occupation: Nursing

Salary: 55,000 yearly
Salary X 70% = 38,500/ 12 months
Monthly Net Income: 3,208.33

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 32927 N John Mogg Rd Grayslake IL 60030
Rent $875 monthly

Number of Bedrooms-If you choose a

2-Bedroom, assume you will split it.
Type the full amount and then your
half.
You can choose a studio apartment
(one person-minimal living)

2 beds
1 bath
1,046 sqft
Amenities-things included Laundry, heating, and parking
Electricity provided $65.00
Internet Service provided $45.00
Cable Service (optional) $-
Cell Phone Package provided
$ 45.00
Living Environment Total 537.50

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 2014 BMW 32XI 34,000miles
Picture

MPG-Miles per Gallon 28 miles per gallon

Asking Price $21,998
Estimated Monthly
Maintenance
Monthly Maintenance: $30
Under 5 years $30/month
Over 5 years $70/month
Warranty Terms, if any none
Purchase Price: 21,998
Car Loan
Subtract $2,199 down payment (10%)
Calculate payment:
Auto Loan Amount: 19,799
http://www.bankrate.com/br
Auto Loan Terms: 4 years or 48 months
m/auto-loan-calculator.asp
Interest Rate: 3%
Monthly auto loan payment: 438
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/28 MPG= 25 gallons per month
work for 5 days a week for 4
weeks each month.
25 gallons x $2.40 = 58.29
Calculate this first: 680

Car Payment, Insurance,

$637.75
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
parents house friends parents friends
Friday $60
$15 house $15 house $15 house $15
clean home
Saturday movie $11 fishing $10 movie $11 $32
$0
clean home
Sunday gym $25 gym $25 fishing $10 $60
$0
Entertainme
$51 $15 $50 $36 $152
nt Total
 Putting It All Together Step 5
10 points
Cost Actual Money Spent
Step 1 Living Expenses (25% - 30%)
$537.50
Apartment, utilities
Step 2 Transportation (20%)
$637.75
Car Payment, Insurance, Maintenance, Gas
Step 3 Food (15%)
Grocery Bill
$231.20
Restaurants
Personal Items
Step 4 Entertainment $152.00
Student Loans - Use the amount from your H&R
$961.00
Block Student Loan Calculator
Savings $75.00
Emergency Savings $120.00
Health Insurance; company plan $75.00
Total Monthly Expenses $2,789.45

Monthly Net Income: $3,208.33

From page 1
Total Monthly Expenses: $2,789.45
From above
Total Difference of $418.8
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)
1. Saving money is difficult.
2. Making a budget
3. Not everything comes easily
I learned that saving money is difficult thing to do and it has to be done. You can't always
go out to eat or start off with a beautiful big house. And you can't start off with making a
bunch of money. It all increases over time. Ive realized that I need to start to save
money because once I live on my own it's going to be a hard thing to do. I've also
learned that I need to make a budget on food and entertainment. My mom always takes
me out but I've never realized how much money she's spending on me. I learned that I
need to stop and make a maximum number I could spend on entertaining things. Also I
learned that money doesn't come easily and you need to work your butt off to get what
you want.

What parts of this project were challenging? Name at least 2 tasks. (3-5 sentences)
1. Picking entertainment/trying to save as much as possible
2. Finding an apartment in my price rang.
The two most challenging things about this project would be picking how much I can
spend on my entertainment and finding an apartment that I can afford. I'm always about
spending money so it was hard to stay in a limit that i can afford. It's difficult when
you're not making as much money you want. Also i've always wanted a beautiful house. I
don't like when apartments or houses looks trashy. So it's hard to find a nice apartment
when you're not making a lot of money and needing to worry about not to going into
debt.

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

I feel like this project really made me start thinking about when I go off to college. This
project has really helped because now I'm thinking about saving up. This project relates
to the real world by seeing how much money you need for everything once you start
living on your own.