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# Blog budget project.final

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### Blog budget project.final

1. 1. Planning for Your Future _______________________________ Name _______________________________ Class
2. 2. Purple Sheet April 20, 2010 Dear Parents, Your son/daughter will be completing a budget project in math. The purpose of this project is to provide baseline knowledge of the expenses and the benefits of a budget. While we all hope our children will earn a good wage, we also know that sometimes we are subjected to circumstances that greatly impact our incomes. The goal of this project is to encourage problem solving and instill a real life situation into our curricula. Sometime in April or the first part of May, the English classes will complete an investigation of careers. Knowledge of expenses will help students be aware of the impact finances have on life and how education impacts career choices. In February, the math classes developed a 4-Year-Plan for high school. This activity encouraged the students to explore the courses available at the high school setting before registering for their freshman year. Entrance requirements to the various post-secondary education options were also discussed. As a staff, we will be discussing the different facets of careers and emphasize that earnings are only one of many important aspects of a career that should be investigated before choosing a field of work. Quality of life must also be considered. We hope these activities in math and English will develop connections between our coursework and our student’s futures. Sincerely, The 8th Grade Math and English Departments Will James
3. 3. Yellow Sheet NAME __________________ Comments: RUBRIC: Planning for Your Future Estimating the MONTHLY Please order your project as follows. COST OF LIVING Without calculating, quickly estimate ______ Cover how much you think each of the (15 points) following would be per month. ______ Overview summary & questions (10 points) ______ Estimated Budget Estimated INCOME (5 points) 1. GROSS SALARY for 1-month (Minimum wage =\$6.00/hr) _______ ______ Clothing Worksheet (10 points) 2. DEDUCTIONS _______ (Taxes & FICA) Budget Worksheet: ______ Annual Salary CUT ‘NET’ SALARY _______ ______ Gross Monthly Salary (Gross salary minus deductions) ______ Deductions HER ______ Net Monthly Salary E ______ Housing Expenses ______ Car/Transportation Expenses Estimated EXPENSES ______ Food 1. RENT ________ ______ Other expenses (Clothing/ 2. UTILITIES _______ Miscellaneous/E&R/Savings) 3. CAR EXPENSES _______ ______ Parent Signature ______ Balanced Budget 4. FOOD _______ ______ Budget Worksheet Sub-total:) 5. CLOTHING _______ (55 points) 6. MISCELLANEOUS _______ 7. PHONE _______ ______ Itemized Miscellaneous List (5 points) Total Expenses: ___________ _____ Circle Graph Sub-total (graph & worksheet) ( Add #1 through 7) (20 points) Essay: CAN YOU PAY YOUR BILLS????? ______ Ideas (10 points) ______ Conventions (5 points) Net Salary ___________ ______ Format & Organization (5 points) Minus Expenses ___________ _____ Essay Sub-total (20 points) Balance ____________ _____ Order of Project (5 points) Definitions: _______ PROJECT TOTAL (140 points) Gross Salary
4. 4. Net Salary FICA So... Planning for Your Future Estimate Page 1 So... You want to be a Millionaire Estimate Page 1
5. 5. Pink Sheet CLOTHING BUDGET WORKSHEET (acquired the last 12 months) List categories for clothing; make extra sections as necessary on the back of this sheet. List the average cost of each item. Find the total cost for each category. Don’t forget to include accessories, etc. Clothing purchased for athletic activities are NOT to be included. When done, have your parents check for accuracy and sign the last square. Encourage your parents to write a note regarding the accuracy of your worksheet. This information is considered confidential. EXAMPLE: 6 sweaters @ \$35 Total: Total: \$210 Total: Total: Total: Total: Total: Total: Total: Total Clothing Expenditure: Parent Comments: Total: \$ _______________ Parent Signature: __________
7. 7. STEP 7: Create a cover sheet for the project. This should be a very clever and creative cover sheet that is makes an individual look inside to see what the project is all about. Your cover must be colorful, creative, interesting and amazing to earn full points!! (10 points) STEP 8: Write an essay summarizing the project. The instructions for your essay are located on the last page of the project directions (white packet). (20 points) STEP 9: Order each page of the project as directed on the yellow Rubric Sheet. (5 points) STEP 10: Verify one last time that you have met each criterion for an excellent project.