Economics Budget Project Which will you be?. Economics Budget Project Agenda 5/18 Friday Lottery for starting loans, Murphy & debt then record this! 

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Presentation transcript:

Economics Budget Project Which will you be?

Economics Budget Project Agenda 5/18 Friday Lottery for starting loans, Murphy & debt then record this!  Read Project –1 st find realistic career & determine income –2 nd within your spending limits find apartment, car or transportation and basic necessities budget –Talk to parents about food & other budget amounts Start WORD Doc. to report

Steps to accomplish Day 1! 1 st find realistic career & determine income –In WORD: Write a good paragraph explaining your career choice, rationale, education needed to attain that career and average entry level salary 2 nd within your spending limits find apartment, car or transportation and basic necessities budget –Car fever: find a car, ebay (buy it now price), autotrader.com, or other. If you get a loan for this car, you MUST have full coverage insurance! Copy & paste the car, price & specifications to your WORD doc. –Living on my own!: Apartments.com is a good apartments site Copy & paste the apartment amenities, all included utilities & price etc HOME: Talk to parents about food & other budget amounts –Some items need estimates… FOOD, etc

Economics Budget Project Agenda 5/21 Monday Bankrate.com (loan calculator) –Plug in interest rate, loan amount & length of loan term that fits your budget Longer payoff = more $ to bank & more time as a slave Remember: “The borrower is slave to the lender” –Goal debt FREEDOM asap –Loan Rates: 18% Credit Card, 8% School Loans, 8% used car, & 4 % new car Net Worth activity —(Real wealth) –Are you drowning in debt or moving toward debt freedom? Today try to match up and make your budget zero based. (Monthly income – Monthly Spending/ Saving Investing =0 Every $ has a planned place!

Economics Budget Project Agenda 5/22 Tuesday Last class time to work on budget—Due TH! HARD PART—BALANCE YOUR BUDGET!!!! Complete your NET WORTH? Remember to finish your WORD DOC to do the reflection of what you learned… (1/2 p.) Nice stuff but is this all there is? Financial Peace… Priceless