Making Ends Meet:
A Comprehensive Budgeting Project for the Secondary Classroom

The Process

Home Introduction Task Process Resources Evaluation Conclusion

 

1. Select a career and a new job location using the books and online resources provided on the Resource page. Make sure you print out your job description, the city in which you will reside, and your gross annual salary. Look at the Rubric for additional details you may want to include for an outstanding grade.

2. Click on the link below to open an Excel spreadsheet that will calculate your Net Monthly Income (take home pay). Make sure to save your new spreadsheet with a new file name and print it off. HINT: only fill in the yellow shaded sections.

3. Find a residence in your new state using the books and online resources provided on the Resource page. Make sure you save an image of your new pad, note the address, description of its amenities, and the rent amount. See the Rubric for details.

If you don't know how to obtain an image from the web take a look at this handout called Getting Images.

4. Buy a vehicle, new or used from www.edmunds.com. You must obtain a picture of your car and note the purchase price. Again, look at the Rubric for guidance of an outstanding project.

5. Your rich Aunt Edna gave you $1000.00 to use towards the down payment of your car. Use one of the loan calculators (see the Resource page) to calculate your monthly payments. You must use a 5% interest rate, but you have flexibility in the length of your loan. Print out your loan calculation and capture an image of the calculator for your presentation (see handout on Getting Images).

6. Create a monthly budget using Excel. You must include the information listed on the Budget Requirements table and save your spreadsheet. Print it off too. Your instructors will walk you through this process. You will be importing this spreadsheet into your presentation later.

7. Create a bar or pie graph of your monthly expenses in Excel. Save this also for importation into your presentation. Your instructors will walk you through this process. Print off a copy of your graph. See the Rubric for details on an outstanding graph.

8. Analysis...Using your monthly budget, answer the following questions. See the Rubric for details. You must provide supporting information in your answers. This part will also be used in your presentation.

a) How would you adjust your budget to allow for an increase in savings of 8% per month?
b)You were in a car accident! You must pay a $500.00 deductible and your insurance will increase by 10% each month. How will you adjust your budget?
c)Your college roommates are going to Cancun in 6 months. The trip will cost $2000.00. How will you adjust your budget so you can save enough money to go on the trip?
d) You received a 3% raise. Recalculate your net income. How will you allocate your added income?

9. Create a PowerPoint slide show from the information you have gathered. See the Rubric for details on what an outstanding presentation should include. At a minimum you must have a title slide, slides on your career, home, vehicle, budget, graph and analysis questions.