1. Warm-Up
Picture the lifestyle you would like to have as an adult. What does your home look like? What kind of car do you want to drive?
Have you ever really done the math when it comes to planning your future? What kind of job would support the lifestyle you imagine for yourself? How much do you think it would cost to live the life you want?

2. Today’s Learning Goal
I will think critically about the benefits of higher education in correlation to the “Cost of Living” by working with classmates to analyze a graph and answer reflection questions.

4. Estimating Costs
You will now be presented with charts outlining average “Costs of Living.” Use the information to complete #1-4.

5. Rent Average Rents: Studio/1Ba $956/mo $3,200/mo $38,000/year 1Bd/1Ba
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
Section 8 "Fair Market Rents”:
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

6. Utility Expenses Utility Unit Price Estimated Monthly Use
Utility Expenses
Utility
Unit Price
Estimated Monthly Use
Average Monthly Cost
Electricity
$0.20/kWh
304 kWh/month
$60.80
Gas/Heat
$1.20/therm
30.8 therm/month
$36.96
Water
$0.004/gallon
15,000 gallons/month
$60.00
Cable/Internet
N/A $
Cell Phone $
Groceries
 N/A
$25-$75/Week
$ $300.00
Gasoline
$3.95/gallon
20 gallons/month
$79.00

7. Exit Ticket
In a brief paragraph, please summarize what you have learned today about the financial benefits of higher education. How will this affect your planning for the future?