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Personal Budget Assignment

Personal Budget Assignment. Mr. Chapman Information Processing 10. Living Isn’t Free!. Now that you are entering your senior years of high school, it is important that you start to think about what you are going to do with your future.

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Personal Budget Assignment

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  1. Personal Budget Assignment Mr. Chapman Information Processing 10

  2. Living Isn’t Free! • Now that you are entering your senior years of high school, it is important that you start to think about what you are going to do with your future. • What kind of job could you actually see yourself doing? How much money do you want to earn? Although lots of us imagine it, we usually don’t end up being crazy rich!

  3. Things to Ask Yourself: • What kinds of things do you want to have? Nice and expensive or functioning and regular? • Do you want to buy a house or rent an apartment? • Are you going to live in a small town or move to the city? • Are you ever going to have kids? • How much money are you going to save?

  4. What Do People Pay For? Brainstorm: Make a list of everything that you can imagine paying for once you are out on your own.

  5. Expenses • Cell Phone • Home Phone • TV Cable • Internet • Recreation (sports, equipment, etc.) • Furniture • Appliances • Children (and everything that goes with them – food, toys, sports) • Medicalcosts • Taxes (income tax, land and property tax, sales tax – usually about 40 – 50% of what you make in the end) • Savings? • Rent or mortgage • House Insurance • Power • Heat • Water • Car • Car Insurance • Gas for the car • Food (groceries, eating out) • Entertainment

  6. How Are You Going To Do This? It’s Time To Start Thinking About It: Budgeting and Planning for the Future

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