Name: __________________ Class Period: ____________________
BUDGET FOR COLLEGE STUDENTS
SYNOPSIS: This activity teaches students something about the real world, as well as giving them practice in the computer skills they learn in class.
SPOTLIGHT ON: Interpersonal communication, negotiation, respect for diversity, social and individual responsibility, decision making, flexibility and adaptability, deductive reasoning, and analysis.
THE BASICS: This can be implemented by allowing students to work on it during class time, several times per week. Using this method, total project time is about 5 weeks. The only requirement is that they already be familiar with word processing, spreadsheets, and charts. Each assignment should be turned in separately and graded, and then returned to the students for compilation into a booklet.
INSTRUCTIONS: ALL ASSIGNMENTS ARE TO BE COMPILED INTO A BOOKLET WITH A TITLE PAGE AND A TABLE OF CONTENTS AT THE BEGINNING OF THE REPORT. |
Objective: To apply previous word processing, spreadsheet, and chart learning to life budget skills, such as budgeting, searching for an apartment, planning weekly menus, buying groceries, purchasing an automobile, saving money, etc….
FACTS: You have decided to move out and try your “wings”.
- Your gross annual income is $25,000 (this is working full-time; you must compute your bi-weekly and hourly rate).
- Your Federal income Tax is a 12.2% of your gross pay. This is claiming zero exemptions, single person.
- Your FICA (Social Security of Federal Insurance Contributions Act) in 7.65% of your gross pay.
- You have to purchase a car with affordable notes and you are responsible for car expenses such as insurance and other related expenses.
- Find the difference between interest rates for good credit and poor credit.
- You will try to save 10% of your gross wages. Decide what the percentage will be for entertainment.
This exercise comes with six (6) separate assignment, and evaluation form to be used at the end of the project.