1. Real World Project Example: Patterson
Part 1
Find an Entry Level Job
Find an Apartment
Calculate Net Pay
Prepare Initial Budget

2. Job: Accountant I Company: Duties Requirements
Twin Rivers Foods - Fayetteville, AR
Duties
AR, AP, inventory and GL management
Financial reporting, and analysis
Work with all levels of the organization
Requirements
Bachelor’s degree
Two years experience preferred

3. Sources

5. Paycheck Actualization Sheet
Salaried
Paycheck Actualization Sheet
INCOME (40 Hour Work Week)
Pay Rate: __$19.75____
Weekly Pay Rate (40 hours) __$790_____
Monthly Pay Rate: __$3161____
Annual Pay Rate: __$37,936__
15% Taxes: ___$5690___
7.5% FICA: ___$2845___
Health if Single: ___$600_____
Family Health: ___$1200____
Dental if Single: ___$120_____
Family Dental: ___$240_____
Net Pay: ___$28801__
INCOME (50 Hour Work Week)
Pay Rate: ____________
Time and a ½ Pay Rate: ____________
Weekly Pay Rate (40 hours) ____________
Time and ½ Pay ____________
Total Weekly Pay Rate (50hrs) ____________
Monthly Pay Rate: ____________
Annual Pay Rate: ____________
15% Taxes: ____________
7.5% FICA: ____________
Health if Single: ___$600_____
Family Health: ___$1200____
Dental if Single: ___$120_____
Family Dental: ___$240_____
Net Pay: ____________
$2400/Month

6. Apartment Questionnaire 1
Complex Name: _____APT 1___________________________
Address:_123 ABC Street City: Atlanta____ ST: GA Zip: __
Telephone Number:__(888) ___
Income Requirements: ____$2000/mn________________________
______________________________________________________________________
# of Bedrooms:__3___ # of Bathrooms: ___2____ W/D Connections: Yes or No
Monthly Rental Amount: __$750____ Lease Term:____1yr____ Application Fee:__$50___
MARTA Bus Route: Yes or No Bus #: __54__ Distance from Train Station__2miles____
Train Station:__SandySprings______ Closest Supermarket:____Kroger______
Distance to Supermarket:____2 miles_____ Distance to Job__15miles__ Travel Time:_40mn__
Avg Utilities: ____$100______ Utility Company(s):________Georgia Power____________
Crime Statistics:________See attached
Closest Sex Offender :____3miles____________ Name: _Amari Notgomery________________
Roommates: Yes or No # of Roommates:___________

7. Apartment

9. Apartment Questionnaire 2
Complex Name: _____APT 1___________________________
Address:_123 ABC Street City: Atlanta____ ST: GA Zip: __
Telephone Number:__(888) ___
Income Requirements: ____$2000/mn________________________
______________________________________________________________________
# of Bedrooms:__3___ # of Bathrooms: ___2____ W/D Connections: Yes or No
Monthly Rental Amount: __$750____ Lease Term:____1yr____ Application Fee:__$50___
MARTA Bus Route: Yes or No Bus #: __54__ Distance from Train Station__2miles____
Train Station:__SandySprings______ Closest Supermarket:____Kroger______
Distance to Supermarket:____2 miles_____ Distance to Job__15miles__ Travel Time:_40mn__
Avg Utilities: ____$100______ Utility Company(s):________Georgia Power____________
Crime Statistics:________See attached
Closest Sex Offender :____3miles____________ Name: _Amari Notgomery________________
Roommates: Yes or No # of Roommates:___________

10. Apartment

12. Apartment Questionnaire 3
Complex Name: _____APT 1___________________________
Address:_123 ABC Street City: Atlanta____ ST: GA Zip: __
Telephone Number:__(888) ___
Income Requirements: ____$2000/mn________________________
______________________________________________________________________
# of Bedrooms:__3___ # of Bathrooms: ___2____ W/D Connections: Yes or No
Monthly Rental Amount: __$750____ Lease Term:____1yr____ Application Fee:__$50___
MARTA Bus Route: Yes or No Bus #: __54__ Distance from Train Station__2miles____
Train Station:__SandySprings______ Closest Supermarket:____Kroger______
Distance to Supermarket:____2 miles_____ Distance to Job__15miles__ Travel Time:_40mn__
Avg Utilities: ____$100______ Utility Company(s):________Georgia Power____________
Crime Statistics:________See attached
Closest Sex Offender :____3miles____________ Name: _Amari Notgomery________________
Roommates: Yes or No # of Roommates:___________

13. Apartment

15. Apartment Questionnaire 4
Complex Name: _____APT 1___________________________
Address:_123 ABC Street City: Atlanta____ ST: GA Zip: __
Telephone Number:__(888) ___
Income Requirements: ____$2000/mn________________________
______________________________________________________________________
# of Bedrooms:__3___ # of Bathrooms: ___2____ W/D Connections: Yes or No
Monthly Rental Amount: __$750____ Lease Term:____1yr____ Application Fee:__$50___
MARTA Bus Route: Yes or No Bus #: __54__ Distance from Train Station__2miles____
Train Station:__SandySprings______ Closest Supermarket:____Kroger______
Distance to Supermarket:____2 miles_____ Distance to Job__15miles__ Travel Time:_40mn__
Avg Utilities: ____$100______ Utility Company(s):________Georgia Power____________
Crime Statistics:________See attached
Closest Sex Offender :____3miles____________ Name: _Amari Notgomery________________
Roommates: Yes or No # of Roommates:___________

16. Apartment

18. Decision Matrix
Question: Come up with a question: Where should I live?
Rank Criteria A: B: C: D:
Valley Creek
Valley Falls
Fall Creek
The Bend 7
Price 4
7 x 4 2
7 x 2 3
7 x 3 1
7 x 1 2
Access to Marta 2
2 x 2 4
2 x 4 1
2 x 1 3
2 x 3
Safety 3 6 2 4 1
Miles from Job 1 3 3 2 4
Square footage 3 4 1 4 2
Newness 1 4 2 1 5
Application Fee 4 1 1 2 3
Total
Add this column
Weights:

19. Monthly Budget INCOME Rent: ____________ Utilities: ____________
Marta Pass: ____________
Car Payment: ____________
Gas: ____________
Car Maintenance ____________
Insurance: ____________
Food: ____________
Cable: ____________
Phone: ____________
Internet: ____________
Cell Phone: ____________
Clothes: ____________
Entertainment: ____________
Security System: ____________
Savings and Investing: ____________
Hair care: ____________
Childcare: ____________
Credit : ____________
Furniture: ____________
________________ ____________
________________ ____________
Total: ____________
Total Needs: ____________
INCOME
Week 1: ____________
Week 2: ____________
Week 3: ____________
Week 4: ____________
Gross Pay: ____________
15% Taxes: ____________
7.5% FICA: ____________
Health: ____________
Dental: ____________
Net Pay: ____________
Net Pay – Budget = ____________

20. Budget Breakdown

21. Furnishing/Work Clothes

22. Living Room
Price
Price
Price
Price
Price

23. Dining Room
Price
Price
Price
Price

24. Bedroom
Price
Price
Price
Price
Price

25. Part 2
Find 3 or 4 Houses

26. House 1: $124,900 2117 Gorman Grove SE Unit 125 Atlanta, GA 30316
Property Type: Condo
Bedrooms: 2
Full Bathrooms: 2
Half Baths: 0
Monthly Payment: $774
Sq Ft: 1201

27. House 1: Sources

28. House 2: $175,000 813 Charles Bank Avenue Unit 83 Atlanta, GA 30312
Property Type: Condo
Bedrooms: 3
Full Bathrooms: 3
Half Baths: 1
Monthly Payment: $1095
Sq Ft: ?
Tax:$ 980

29. House 2: Sources

30. House 3: $219,900 214 Saintvry Path Atlanta, GA 30349
Property Type: Single Fam
Bedrooms: 4
Full Bathrooms: 2
Half Baths: 1
Monthly Payment: $1382
Sq Ft: 3301
Clubhouse
Tennis Community

31. House 3: Sources

32. House 4: $124,900 2117 Gorman Grove SE Unit 125 Atlanta, GA 30316
Property Type: Condo
Bedrooms: 2
Full Bathrooms: 2
Half Baths: 0
Monthly Payment: $774
Sq Ft: 1201

33. House 4: Sources

35. Decision Matrix
Question: Come up with a question: Where should I live?
Rank Criteria A: B: C: D:
House 1
House 2
House 3
House 4 7
Price 4
7 x 4 2
7 x 2 3
7 x 3 1
7 x 1 2
Access to Marta 2
2 x 2 4
2 x 4 1
2 x 1 3
2 x 3
Safety 3 6 2 4 1
Miles from Job 1 3 3 2 4
Square footage 3 4 1 4 2
Newness 1 4 2 1 5
Application Fee 4 1 1 2 3
Total
Add this column
Weights:

36. Renting or Owning
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37. Part 3
Find a Car

38. Transportation 1 Price Manual miles Leather MPG Space
Maintenance Costs
Options
Manual
Leather
Space
Storage
Navigation

39. Car 1
Pros
Cons
Reviews
Source

40. Transportation 2 Price Manual miles Leather MPG Space
Maintenance Costs
Options
Manual
Leather
Space
Storage
Navigation

41. Car 2
Pros
Cons
Reviews
Source

42. Transportation 3 Manual Year Leather Make/Model Space Price Storage
Navigation
Year
Make/Model
Price
miles
MPG
Maintenance Costs
Options

43. Car 3
Pros
Cons
Reviews
Source

44. Transportation 4 Price Manual miles Leather MPG Space
Maintenance Costs
Options
Manual
Leather
Space
Storage
Navigation

45. Car 4
Pros
Cons
Reviews
Source

46. Decision Matrix
Question: Come up with a question: Where should I live?
Rank Criteria A: B: C: D:
Car 1
Car 2
Car 3
Car 4 7
Price 4
7 x 4 2
7 x 2 3
7 x 3 1
7 x 1 2
MPG 2
2 x 2 4
2 x 4 1
2 x 1 3
2 x 3
Speed 3 6 2 4 1
Size 1 3 3 2 4
Safety 3 4 1 4 2
Storage 1 4 2 1 5
Application Fee 4 1 1 2 3
Total
Add this column
Weights:

47. Final Budget Investments Student Loan
Part 4
Final Budget
Investments
Student Loan

48. Revamped Monthly Budget
Rent: ____________
Utilities: ____________
Marta Pass: ____________
Car Payment: ____________
Gas: ____________
Car Maintenance ____________
Insurance: ____________
Food: ____________
Cable: ____________
Phone: ____________
Internet: ____________
Cell Phone: ____________
Clothes: ____________
Entertainment: ____________
Security System: ____________
Savings and Investing: ____________
Hair care: ____________
Childcare: ____________
Credit : ____________
Furniture: ____________
________________ ____________
________________ ____________
Total: ____________
Total Needs: ____________
INCOME
Week 1: ____________
Week 2: ____________
Week 3: ____________
Week 4: ____________
Gross Pay: ____________
15% Taxes: ____________
7.5% FICA: ____________
Health: ____________
Dental: ____________
Net Pay: ____________
Net Pay – Budget = ____________

49. Revised Budget Breakdown

50. Investing Monthly Contribution: 250

51. Student Loan

52. Part 5
Reflection

53. Reflection
1. Do you make enough money to pay your expenses and still save? If not what can you do to either increase your income or reduce your expenditures?
2. Do you have enough money to live on your own? Why or why not?
3. Do you have enough money to buy a car?
4. How often can you shop?
5. How realistic do you think this assignment is?
6. How will having a child affect your budget?
7. How would a catastrophic event affect your budget?
8. What did you learn from doing this assignment?
9. What would have liked to learn from this assignment?
10. How much money should you save before you can take a week off?

54. Sources