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Your Name. Q2- Final Exam Project. Dreams & Goals. Directions: insert your dreams and goals project here…. Career. Information . Directions: Now that you have the information about your career choice, write up a summary and include the following: why is this career for you?

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Your Name

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  1. Your Name Q2- Final Exam Project

  2. Dreams & Goals Directions: insert your dreams and goals project here…

  3. Career

  4. Information Directions: Now that you have the information about your career choice, write up a summary and include the following: • why is this career for you? • What aspects appeal to you the most? • Where are you going to get your certification, training, or education? • What types of benefits do you think will come with this career? • Where can you become employed?

  5. Budget Scenario FIT = 12.5% SST = 6.75% MDT = 1.45%

  6. Scenario • If Jim makes $18.50 an hour and works 45 hours every week. And His Wife, Christy makes $3,550 a month. Create for them a budget. Make sure to calculate gross and net pay.

  7. Banking Research • Students will use the table on the next slide. They will look up financial institutions. They will complete the chart with as much information as possible. They will use this information for another part of the project. Use the one listed, and choose 3 additional ones.

  8. Banking Summary • Now that you have completed the research… write up a summary based on the process of evaluating banks. What did you learn about financial institutions? How did this process help you to determine the differences in financial institutions? Out of the 3, which would be the best fit for you and why?.... Be specific and write in a complete paragraph

  9. Computations Directions: perform the following calculations…

  10. Sales Tax Sales Tax rate = 9.75% • Retail = $15.87 • Retail = $85.00 • Retail = $359.00 • Retail = $1,500.00 • Retail = $16,500 • Retail = $124,500

  11. Payments Directions: perform each calculation based on the following… • You want to buy a car. It is going to cost you $12,500. You finance for 5 years. The interest rate is 4.5%. What is your monthly payment going to be? • You want to buy a house. It is going to cost you $134,650. You want to decide which is better to finance for, 20 years at 3.5% or 30 years at 2.1%. Calculate both and decide which is the better way to finance and tell me why…

  12. Form 1040 EZ Directions: Use the following information and use the IRS website to complete a 1040 EZ form for this person. Screen shot it and paste it here on a slide. Ella Charming 160 20th Street Clifford, GA 09876 Single

  13. Checkbook Register Record the following transactions into the provided check register: Jan 5th opening deposit $3,500 Jan 6th ck # 1001 to Cleveland Utilities $250 Jan 9th ck # 1002 to WVHS $45 Jan 15th debit card to Wal-Mart $56.39 Jan 20th atm withdrawal $60.00 Jan 28th deposit $250 Jan 29th ck #1003 to Target $135.87 Jan 29th Pizza Hut $25.60 Jan 30th Starbucks $8.35

  14. Parts of a Check 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. ABA number 12.

  15. Travel AgentDirections: you are playing a travel agent for a friend. They have a budget of $2,500 and would like to take a vacation for themselves and one other person (2). You will need to price 2 different vacations that they can do for their budgeted amounts. You need to make sure that it includes the following pieces. Once you get the chart completed, write out what you thought about pricing different trips on the internet? Was the process easy or hard and why?

  16. Scenario • If you were to inherit $500,000 cash money what would you do with it? We have studied that there are 3 things that you can do with your money (Spend, Save, or Invest). I need for you to decide how you are going to split the money into the 3 categories. Design a chart to show how you will split the money between the three categories. Explain in full detail where you are going to put your money and why. If you put money into different bank accounts please tell me where you are going to put it and why you choose to put it there. If you spend it, you must explain how you are going to spend it and why you chose to spend it on that particular item. If you invest it, please explain how you will invest and why you choose to do it that way.

  17. My First House • Directions: Students will complete each step. Make sure to show calculations, make sure you have reasons, and cite where your pictures and information comes from.

  18. What is your: • Ideal Career • Location of where you want to live • Salary for your ideal career(take the lowest amount) • Then: • Calculate taxes • FIT = 18.5% • SST = 6.25% • MDT = 1.45% • Deduct 10% for insurance • Calculate Net income • Create a budget • Use 35% for housing • Use 10% for saving • Then you determine what % to assign to these areas: • Living • Charity • Retirement • Debt (must not exceed 20%)

  19. Take your housing allowance and multiply it by 70%, (this gives you the amount that you can work with to determine how much home you can afford) • Interest rate is 5.5% • Decide how many years you want to take to pay off your mortgage • The loan will only be for 80% of the value of the home • How much will you have for a down payment, where is it coming from

  20. Housing Selection: You will find 2 homes or Apartments/Townhomes in your specific location • Calculate the payments for each • Use simple interest based on slide 5 numbers • Put a picture of the house on your PowerPoint

  21. Insurance Options: What types of insurance will you need in order cover your risks? • Explain each • See if you can get an online price quote for these types of insurance

  22. Reflection: • Does my career choice fit my house dreams and needs • Do I need to consider changing locations for my career in order to get my salary up • Should I adjust my debt and spending limits in order to compromise food and housing • Does my idea of my first house fit what I thought I might be able to afford? Why or why not • Is this the home in which you will use for your retirement housing? • Do you think that you will be successful in completing the dream of home ownership? • Why or why not • What skills have we used in this class that will help you with decisions and with the ability to become a home owner

  23. What I have learned… Directions: Reflect over this class… what skills did you learn? How will this information be applied to your life? Reflect over the topics covered, what was your favorite? What was your least favorite? Areas where you still struggle? Areas that are more clear for you now? Overall opinion of this class to make it more beneficial….

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