Income: This is given to you at the beginning of the project, it is part of the circumstances that you receive. You will need to divide the yearly gross income by 12. Then you will need to multiply by the tax decimal that coincides with your tax bracket. This will give you your monthly net income. Monthly gross, tax bracket, and monthly net will need to be input into your spreadsheet.
Rent: You will need to go to the website, www.rent.com . Here you will set up an account and find a place to live. You will need to find the floor plan of your house or apartment and then save it to your disk. Name it "rent and floor plan" so that we will be able to find it easily. You can copy it off the website and then save it in Microsoft Word.
Car: You will need to go to the website, www.cars.com . Here you will find a car and look at the loan calculator to determine your monthly car note by inputting the terms. You will need to copy and paste all this information, including a picture of your car, into Microsoft Word and save it to your disk. Name it "Car" so that we will be able to find it easily.
Utilities:These amounts are pre-set for you. Just find which situation is applicable to you and input the amounts into your spreadsheet.
1 Bdrm Apartment: Electric = $25.00, Gas = $25.00, Total = $50.00
2 Bdrm Apartment: Electric = $50.00, Gas = $25.00, Total = $75.00
3 Bdrm Apartment: Electric = $75.00, Gas = $25.00, Total = $100.00
House: Electric = $125.00, Gas = $75.00, Total = $200.00
Phone: For simplicity we have chosen to have you use a cell phone plan for your home phone. You may each have one if you are "married". You need to research a cellular phone package with whatever options you desire. Then save both a picture of your phone and a copy of your plan into Microsoft Word, save it as "phone" so that we can find it easily.
Cable: You need to research either a cable or sattelite dish plan and save it to your disk.
Insurance: You will need to get insurance for both your car and your home (renter's insurance). Your monthly premiums will vary depending on what types of variables or deductables you choose. Remember to save the information that you find to a disk.
Food: Your food cost will vary depending on your circumstances. Please input the data below that fits your situation.
Single with 1 child: $150.00/month
Single with 2 children: $200.00/month
Married with 1 child: $250.00/month
Married with 2 children: $300.00/month
Entertainment: This will vary and also will depend on what you think that you can afford. Whatever amount you choose is what you should put into this line on the spreadsheet.
Clothing: This will vary and also will depend on what you think that you can afford. Whatever amount you choose is what you should put into this line on the spreadsheet.
Travel: For the purpose of this project this expense is for gasoline. It is a pre-set amount based on your vehicle/vehicles. Choose whichever data is pertinent to your situation. Remember if you have 2 cars you will need to include them both.
2 Door Car: $50.00/month
4 Door Car: $60.00/month
Truck: $80.00/month
Mini-Van/SUV: $80.00/month
Savings: This will vary and also will depend on what you think that you can afford. Whatever amount you choose is what you should put into this line on the spreadsheet. Generally, whatever you have left is what you are going to put into this section of the speadsheet.
Links For This Project
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