2. What about our first job? What can we expect? Minimum wage $7.25 Written by Barbara Mackessy

3. Many people in the United States work at Minimum Wage especially in the south. $7.25

4. After High School in Georgia Several fast food restaurants and department stores will start you off at an hourly wage around $7.25 per hour. $7.25 x 40 hours = $290.00 per week $290.00 x 4 weeks = $1160.00 per month Lets go to the Mall! Oh Wait!!!

5. What about … Federal Income Tax 18% Georgia State Income Tax 6% Social Security 6.2% FICA Medicare 1.45% This makes up over 31.45% of your check. $1160.00 – 31.45% = $795.18 per month Now lets go to the Mall! Oh Wait!!!

6. What about bills? Electric Phone Cell Phone Natural gas Cable TV Water Sewer Renters insurance Car payment Parking fees Car tags Car insurance Car fuel Laundry mat Trash pickup Bank fee Credit cards Medical insurance Medical bills Dental Rent

7. Now lets go to the Mall! Oh wait!!! I need a second job.

8. Budget Project 2 Test grades in Career Management Objective to see what it would be like if I dropped out or got stuck in a low paying job earning $7.25 or $7.50 per hour. Essential Question: Can I survive on my own in a low paying job in the future?

9. Pay check Gross pay-Amount before taxes Net pay-Amount after taxes; The take home amount

10. Hourly wage Girls $7.25 per hour 40 hours per week Equals $290.00 Times 4 weeks Totals $1160.00 Minus taxes (31.45%) Net $795.18 monthly Boys $7.50 per hour 40 hours per week Equals $300.00 Times 4 weeks Totals $1200.00 Minus taxes (31.45%) Net $822.60 monthly

11. Why the difference? In 2007, women were paid only 77 cents for every dollar a man is paid, according to the U.S. Census Bureau.77 cents The National Average Salary of women is lower than that of men. To make matters worse, the U.S. Supreme Court has made it harder for women to prove they are the victims of pay inequality. The High Court ruled in May 2007 that women who believe they are being denied equal pay must file suit within 180 days after the discrimination occurs. within 180 days

12. National average The male’s car insurance is more than the female’s It is not uncommon for a male high school student’s car insurance to equal or be more than the car payment.

13. Car Ad Under $5000.00 Use bankrate.com auto loan calculator Car fuel $50.00 per week x 4 weeks Car Insurance

14. Apartment Rent – Include Newspaper Ad or Internet Ad for your local area.

15. Utilities Electric $150.00 Phone $30.00 Water/Sewer $40.00 911 $1.60 You must include them in your total expenses – use the amounts on your budget sheet. You do not have to have ads for your utilities just list the amounts given on your worksheet. Health Insurance $101.00

16. Clothes One dress outfit Must include under clothes Must include dress shoes This is in your budget because most of you have plenty of jeans, shorts tee shirts and tennis shoes but not enough dress clothes to wear to work each day. You would plan on buying one new outfit per month and then after a year you would have outfits so that you would not have to wear the same one each week.

17. Personal Items Must include all items that you use in a normal month. Sample list: Soap, shampoo, conditioner, toothpaste, dental floss, toilet paper, paper towels, laundry soap, dish washing soap, You must also include any longer term medications (ask your parents for the cost). Medical insurance Laundry mat cost

18. Food You are to cut out food for two days, Breakfast, lunch, dinner, snacks and drinks You will add them together for one total Then multiply the total by 15 That will make 30 days for a monthly total Include only food for two days X’s 15

19. Add all expenses for grand total

20. Reflection Students must reflect and answer the questions on the budget project.

21. Budget Project Pieces 1.Ads with prices (on poster or in a booklet form) 2.Total of all expenses (show work) 3.Reflection (include on poster or in booklet)

22. Stocking Apartment Project Essential Question: What would it cost a person to move away from home, taking nothing with them in the future? Buy items as low cost as possible (you must include the ad with the price for each item). Use local store ads or the internet. Add grand total of all items

23. Include the following Something to sleep on Something to eat on Something to sit on Cookware Silverware Dishes Glasses Shower curtain Towel Pillow Sheets Blanket or Quilt Dish cloth Smoke alarm Broom, mop, Dust pan Telephone You may include other items but must have the above in your project

24. Apartment Project Pieces 1.Advertisement with price for each item 2.Total price of all items 3.Reflection questions answered

25. Both projects These are two separate projects. You will not receive credit for an item that is placed in the wrong project. The budget includes items that you must pay for as you use them or pay each month. The stocking the apartment items are reusable type items. Do not put paper products in the stocking apartment: such as paper plates, paper cups etc.

26. Both projects The due date was listed on the board in the front of the room. Each project is a test grade. Good luck!