Pick up your worksheet from the period 6 basket! Please summarize what you learned from our activity on the “cost of living” and its relationship to higher education. If you were absent yesterday, quietly and politely ask a table partner to fill you in.

Today’s Learning Goal I will think critically about the benefits of higher education in correlation to the “Cost of Living” by checking my work and reflecting on applicable information.

Doing the Math: Following along with the math calculations presented and check the work on your worksheets.

1. Rent Apartment Average Monthly Rent Monthly Income Needed to Afford Rent Annual Income Needed to Afford Rent Studio/1Ba$956/mo$3,200/mo$38,000/year 1Bd/1Ba$1,218/mo$4,100/mo$49,000/year 2Bd/2Ba$1,607/mo$5,400/mo$64,000/year Apartment Fair Market Rent (FMR) Monthly Income Needed to Afford FMR w/o Assistance* Annual Income Needed to Afford FMR w/o Assistance* Studio$674/mo$2,250/mo$26,960/year 1Bd$807/mo$2,690/mo$32,280/year 2Bd$1,021/mo$3,400/mo$40,840/year Section 8 "Fair Market Rents”: Average Rents:

2. Utility Expenses UtilityUnit Price Estimated Monthly Use Average Monthly Cost Electricity$0.20/kWh304 kWh/month$60.80 Gas/Heat$1.20/therm30.8 therm/month$36.96 Water$0.004/gallon15,000 gallons/month$60.00 Cable/InternetN/A $ Cell PhoneN/A $ Groceries N/A$25-$75/Week$ $ Gasoline$3.95/gallon20 gallons/month$79.00

2. Estimating How much you would spend on bills: Electricity$60.80 Gas/Heat$36.96 Water$60.00 Cable$ Cell Phone$50.00 TOTAL:$307.76

4. Estimating Your Monthly Expenses Rent$ Bills$ Groceries$ Gasoline$79.00 TOTAL:$ Rent$ Bills$ Groceries$ Gasoline$79.00 TOTAL:$

5. Calculate how much a person who did not graduate from high school makes per month: According to the graph, those age 25 or over working full-time with less than a high school diploma earn $444 per week. There are 4 weeks in a month. $444 x 4 = $1776

6. Calculating how much more a person who graduates from high school makes per month. According to the graph, those age 25 or over working full-time with high school diploma earn $626 per week. There are 4 weeks in a month. $626 x 4 = $2,504 $2,504 - $1,776 = $728 more per month

7. Will a person who earns no higher than a high school diploma have enough to live the lifestyle they envisioned? $2,504 - $1, (monthly expenses)= $701.24

7. Other expenses you may not have considered… $ –Taxes –Health Insurance –Dental Insurance –Car Insurance –New clothes, shoes, movies, video games, accessories, hygiene, etc. –Taking care of a child _______________________________________ = ?

Common Jobs and Salaries Food Preparation/Service: $19,000/year Cashier/Retail: $19,000 - $25,000/year Waiter/Waitress: $20,000/year Office Clerk: $25,000 - $27,000/year Customer Service: $32,000/year Accounting: $32,000/year Registered Nurse: $45,000 - $65,000/year School Teacher: $45,000 - $65,000/year

Exit Ticket In a brief paragraph, explain how what you learned today relates to our discussions of time management and procrastination. How will what you learned from this activity affect your planning for the future?