1. 4 th Marking Period: Financial Responsibility Budget Project This project will span nearly all of Marking Period 4 with various due dates. Please plan accordingly. http://financialplan.about.com/cs/budgeting/l/blbudget.htm

2. Project Objective  The objective of this project is for you to create a budget that would potentially allow you to live the type of life you would like, as well as to understand what skills and/or education you need to get there. This includes: finding a house and car, developing a budget for these, and finding a career that would match your income needs. This project does involve doing some calculations, but it's main purpose is to allow you to have fun dreaming of the future while realizing what these dreams may cost. It is also a goal that you will observe certain realities about work and what it takes to be a successful adult in today’s society; it is certainly not easy and takes lots of money!  You will also have a master spreadsheet that will show all your calculations and contain a working budget. Please note that your expenses must fall within your income! (No debt allowed!)

3. Due Dates The dates below indicate the dates each section(s) is due. Please note that due dates are subject to change. Due on the date listed is: evidence of your completed research, which includes lists, monetary values, companies, and any other applicable information. PLEASE STAY ORGANIZED! School costs – Due April 25th Find a Job – Due April 30th Find a Home – Due April 30th Utilities – Due May 2 Food – Due May 2 Family Obligations – Due May 7 Personal Health & Medical – Due May 9 Transportation – Due May 14 Debt Payments – Due May 14 Entertainment & Recreation – Due May 16 Pets – Due May 16 Clothing – Due May 22 Investments & Savings – Due May 22 Miscellaneous – Due May 22

4. Project Requirements  Each week a different portion or portions of your project will be due; refer to previous due dates. These due dates are subject to change. They will not be moved forward, but they may be moved back.  Some of the categories will be up to you decide, and the other will be left up to chance!  You will present this project once it is completed; you will be assessed on each portion as the marking period progresses, and you will be assessed on your final presentation, the required handouts, and your Power Point.  After you have completed the final project, you will generate a formal, written reflection, which will also be assessed.

5. The First Step  Access and look through the interactive budget worksheet found on the website below. This portion of the assignment will be ongoing, so be sure to save your document often.  This document will be due, printed, along with your Power Point Presentation.  http://www.budgetworksheets.org/ http://www.budgetworksheets.org/

6. A Very Helpful Website  The website below will help you calculate your monthly budget. Be sure to read the directions on the page carefully to ensure that you complete the calculations correctly.  http://mappingyourfuture.org/money/budgetcalculator.htm http://mappingyourfuture.org/money/budgetcalculator.htm

7. THE POWERPOINT  Each component of the project is to have its very own PowerPoint slide (or more than one if you choose). You are to label each slide appropriately and include the required information.  For example:  The Job/Income slide must include your chosen profession, your salary for one year or wages for one year and the amount that you will “bring home” after you deduct your state taxes.

8. YOUR FAMILY  Each student will have one spouse; that spouse will also have a job (salary or wage, part-time or full-time) to add to your home’s income.  “Fate” (a number chosen at random) will determine how many children you have.

9. Find a Job / Your Income  Wages and Bonuses  Investment Income (at least one)  Miscellaneous Income (at least one)  Income taxes withheld  Federal income tax  State and local income tax  Social security/Medicare Tax Helpful Websites o http://lwd.dol.state.nj.us/labor/wnjpin/findjob/findjobindex.html http://lwd.dol.state.nj.us/labor/wnjpin/findjob/findjobindex.html o http://www.tax-rates.org/New_Jersey/income-tax http://www.tax-rates.org/New_Jersey/income-tax Slide Requirements Job Name Job Description Yearly Salary/Wages Calculated Taxes Withheld Amount “brought home” Spouse’s Income & amount “brought home” Total amount “brought home” Investment(s) Income Miscellaneous Income(s)

10. Find a Home  Mortgage or Rent  Homeowners/Renters Insurance Policy  Taxes  Home Repairs (Fate Decides)  Home Improvements (Fate Decides) Helpful Websites:  http://realestate.nj.com/ http://realestate.nj.com/  http://www.zillow.com http://www.zillow.com  http://www.zillow.com/mortgage-rates/ http://www.zillow.com/mortgage-rates/  http://www.coldwellbanker.com http://www.coldwellbanker.com  http://www.weichert.com/NJ http://www.weichert.com/NJ Slide Requirements Picture of Home Description of Home (bedrooms, bathrooms, lot size, town) Mortgage/Rent Amount Insurance Policy: Yearly $ Home Repairs Home Improvements

11. Expenses: There are several categories!  Utilities  Food  Family Obligations  Health and Medical  Transportation  Debt Payments  Entertainment  Pets  Clothing

12. Utilities  Electricity Water and Sewer  Natural Gas or Oil  Telephone (Land Line, Cell) Helpful Website(s)  http://www.bpu.state.nj.us/bpu/assistance/utility/ http://www.bpu.state.nj.us/bpu/assistance/utility/ Slide Requirements Electricity ($/month) Water ($/month) Sewer ($/month) Natural Gas or Oil ($/month) Telephone-land line or cell phone ($/month)

13. Food  Groceries  Dining Out (Fate Decides)  Lunches (Will you prepare your own, or will you purchase them at work?)  Snacks Helpful Website(s)  http://www.apsupermarket.com http://www.apsupermarket.com  http://www.shoprite.com http://www.shoprite.com  http://www.bjs.com http://www.bjs.com  http://www.njrestaurants.com/morris.html http://www.njrestaurants.com/morris.html Slide Requirements Grocery List with Stores & Prices for 1 Month Lunches ($/month) Snacks ($/month) Dining Out (Place & $)

14. Family Obligations  Day Care / Babysitting  Sports/Extra Curricular Helpful Websites  http://www.morriscountybusinesslist.com/specific/Child- Care-~-Day-Care-Centers.htm http://www.morriscountybusinesslist.com/specific/Child- Care-~-Day-Care-Centers.htm  http://www.superpages.com/yellowpages/C- Babysitting/S-NJ/Y-Morris/ http://www.superpages.com/yellowpages/C- Babysitting/S-NJ/Y-Morris/ Slide Requirements Day Care cost/month Cost of Sports/Extra Curricular Activities Babysitting (required if you and your spouse dine out alone)

15. Health & Medical  Insurance (medical, dental, vision)  Co-pays (Fate Decides)  Fitness (Yoga, Massage, Gym) Helpful Websites  http://www.healthinsurance.org/new_jersey http://www.healthinsurance.org/new_jersey  http://www.healthcare.com/health-insurance/state/new- jersey/new-jersey-health-insurance/ http://www.healthcare.com/health-insurance/state/new- jersey/new-jersey-health-insurance/  http://www.ehealthinsurance.com/?allid=All22890&sid=NJ_cb163 ca892e056942e0e62c30953bd85  http://www.morriscountybusinesslist.com/category/specific.asp?c at=Health-Clubs-~-Gyms http://www.morriscountybusinesslist.com/category/specific.asp?c at=Health-Clubs-~-Gyms Slide Requirements Insurance ($/month) Co-pays Fitness

16. Transportation  Car Payments-Will you purchase/lease a new or used car?  Gasoline/Oil  Auto Repairs (Fate Decides)  Auto Insurance  Other Transportation (tolls, bus, subway, taxis) Helpful Websites  http://www.edmunds.com/dealerships /all/NewJersey/MorrisCounty-1.html http://www.edmunds.com/dealerships /all/NewJersey/MorrisCounty-1.html  http://newjerseygasprices.com/ http://newjerseygasprices.com/  http://www.edmunds.com/repairshops /all/NewJersey/MorrisCounty-1.html http://www.edmunds.com/repairshops /all/NewJersey/MorrisCounty-1.html  http://www.carinsurancerates.com http://www.carinsurancerates.com  http://www.state.nj.us/transportation/ http://www.state.nj.us/transportation/ Slide Requirements Car Payments/month Gasoline/month Auto Repair(s) Cost Auto Insurance Other Transportation

17. Debt Payments  Credit Cards  Student Loans (Fate Decides)  Other Loans (Fate Decides) Helpful Website  http://www.bankrate.com/credit-cards.aspx http://www.bankrate.com/credit-cards.aspx  http://www.finaid.org/calculators/loanpayments.phtml http://www.finaid.org/calculators/loanpayments.phtml Slide Requirements Credit Card ($/month) Student Loans ($/month) Other Loans ($/month)

18. Entertainment & Recreation  Cable TV/Videos/Movies  Computer Expense(s)  Hobbies  Subscriptions and Dues  Vacations (at least one required) Helpful Website  http://www.yellowbook.com/yellow- pages/?what=Cable+And+Satellite+Companies&where=Morris+Count y%2C+NJ http://www.yellowbook.com/yellow- pages/?what=Cable+And+Satellite+Companies&where=Morris+Count y%2C+NJ  http://www.magazinesubscriptions.com/ http://www.magazinesubscriptions.com/  http://www.travelocity.com/Vacations http://www.travelocity.com/Vacations Slide Requirements Cable TV/Videos/Movies per month Computer Expenses ($/month) Hobbies ($/month) Subscriptions ($/month) Vacation(s) (must include travel, destination, hotel, food, entertainment, etc.)

19. Pets (fate decides)  Food  Grooming, Boarding, Vet Helpful Website(s)  http://pets.costhelper.com/dog-food.html http://pets.costhelper.com/dog-food.html Slide Requirements Food (type and cost/month) Other Materials (cost/month) Grooming, Boarding, Vet (cost/month)

20. Clothing  Where will you shop?  How often will you shop?  What articles of clothing will you purchase? (Keep in mind your career!) Include prices; do not forget sales tax when budgeting!  Generate a clothing list including prices for each member of the family for one month. Slide Requirements Clothing List/Family Member (place of purchase, article of clothing, & cost required)

21. Investments & Savings  Choices include:  401(K), 403B or IRA  Stocks/Bonds/Mutual Funds  College Fund  Auto Fund  House Fund  Savings  Emergency Fund Slide Requirements at least one investment required.

22. Miscellaneous  Toiletries, Household Products  Gifts/Donations  Grooming (Hair, Make-up, Other)  Miscellaneous Expense Slide Requirements Toiletries/Household Products (Name & Cost/month) Gifts/Donations Grooming (Name & Cost/Month) Miscellaneous Expense(s)

23. Formal Reflection  You will generate a reflection in which you answer and discuss the following questions:  Describe what it was like for you to budget.  What did you learn from this process?  Are your expectations of the realities of budgeting the same or did they change? Explain.  **Your formal reflection is to be TYPED, double spaced, in Times New Roman, size 12 (as always). About 2 pages.