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So You Want to be GROWN

So You Want to be GROWN. A Real Life Math Project. What I Will N eed to Know . Due Date : May 10, 2012 . All info MUST be submitted in a 3-ring binder All information needs supporting documents. All documents should be glued and/or taped. Use clear sleeves Markers/ Crayons

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So You Want to be GROWN

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  1. So You Want to be GROWN A Real Life Math Project

  2. What I Will Need to Know • Due Date: May 10, 2012 • All info MUST be submitted in a 3-ring binder • All information needs supporting documents. • All documents should be glued and/or taped. • Use clear sleeves • Markers/ Crayons • Be CREATIVE

  3. Job / Career • Describe My Job • What do I do • What are my duties • What is my pay (describe the pay scale) • Describe Education Needed

  4. My Occupation www.salary.com • Yearly Salary • Monthly Salary • Weekly Salary • Daily Salary

  5. Income • Gross Income : Earned income prior to deductions • Net Income: Income earned after deductions • Deductions: Items subtracted from your gross pay

  6. What Are My Deductions • 12% - Federal Income Tax • 5% - Social Security (FICA) • $40.00 – Medical Insurance • 9% - State Income Tax REMEMBER: Based on Monthly Salary

  7. Finally Living On My Own • Go to the Times Picayune – classifieds • You can spend up to 25% of your gross income. • Find your address • Find the monthly rent amount. • What does your apartment look like?

  8. Wow, Never Knew I Had So Many Bills • Electricity: $80 ($30 for each additional room over 4) • House phone $50 • Gas: $45 (subtract $20 if heat is free in apartment) • Food: $100 - $250 • Travel: $1.50*2(roundtrip) * 5 (days/week) * 4 (weeks / month) – if you don’t have a car- • Dry Cleaner/ Laundromat: $30 • Clothes/Shoes: at LEAST $60 • Hair Care/ Cut/ Salon: at LEAST $25- $150 (more for extensions, weaves, wigs, designs) • Personal items: Toilet paper, soap, shampoo, toothpaste, etc. at LEAST $30 • Savings: YOU MUST SAVE SOMETHING REMEMBER: These are MONTHLY charges

  9. Entertainment Cost • Movies- $20 each visit • Music Club - $25+ each visit • Concert Ticket- $65 each • Restaurant - $40 each visit • Rental Movies – $1.30 - $5 each • Health Membership - $70/ month

  10. I Want To Drive • Car Note: At LEAST $400 (depends on automobile) • Insurance: $120 • Gas: $200 • Maintenance: $50 • Description of vehicle: • Year, make, & model

  11. Spending Free Money • You are being given a one time grant of $5000. This is the ONLY money that you may use to FULLY furnish your new apartment home. You must spend as much of the grant as possible, with no more that $20 left. First, think about the basic things you need • YOU MAY NOT GO OVER THE GRANT!

  12. What Does MY New Home Need? • Go to The Times Picayune Sunday clippings. • The item and the price must be included in your binder • Taxes are everywhere so, remember to include sales tax in your purchases.

  13. Let’s Start Shopping • Sears • Wal – Mart • Target • Best Buy • Circuit City • K-Mart • Walgreens • Dillard’s • Linen-N-Things • Bed, Bath, and Beyond • Pier I • Kirkland's • World Market • JC Penny's • Etc.

  14. I Can Now Write Checks • Currently, many people pay their bills through on-line banking. • In this project you will write five checks. • All checks must be signed • The name of the company must be on the check

  15. Who Gets My checks • Insurance Agency • Electric Company • Water Board • Grocery Store • Apartment Agency • Department Store • IRS (Internal Revenue Service)

  16. Putting My Information Together • REQUIRED: • Binder: All collected data will be neatly placed in a 3-ring binder a. Paper: you will type your data and organize in a paper format • 12 font • Double spaced • Times New Roman b. PowerPoint Presentation- (must have at least 10 slides) AND OR

  17. So, Now I AM GROWN!!! • I have the EDUCATION I need for my job • I have an APARTMENT HOME • I have my own TRANSPORTATION • I can pay BILLS • I can write CHECKS • I can create a BUDGET • I can have a SAVINGS

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