BUDGET PROJECT

Goals and Expectations

Learning Goals for the project:

1. Students will demonstrate their ability to gather information as part of the decision making process.
2. Students will demonstrate the concept of decision making as they rearrange their budgets from the "textbook model" to the "real world".
3. Students will understand the mathematics of budgeting both in dollar figures and percentage figures.
4. Students will construct a project that is neat, complete, accurate, and that uses the computer to word process/create organized work.

What would a quality project look like?

Car ad from newspaper or internet with model year, description and price. This information is developed into an "ad" page using computer technology-graphics, interesting font, etc. that includes the details of your choice.  The "ad" page must include the following pricing calculations:  a) down payment, b) total amount financed, c) appropriate APR,  and d)  monthly payment that fits into projected budget. Calculations are typed neatly on the presentation page. A write-up describing the reason for your selection of this vehicle is typed and explains the USE of the vehicle. (see chapter 19 to clarify this decision process)  Consult rubric for details and point values.

Find an apartment ad from a newspaper or internet that shows the location, phone number, apartment features, and rent.  Develop an "ad" page using computer technology-graphics, interesting font, etc. that includes the details of the apartment. Also incorporate such things as a floor plan and pictures of the complex or the apartment.  A write-up that is typed must be included that states the reasons for the selection of this apartment (supported by the features-not just "because I like it.")  If you decide to reduce your rent with a room-mate, there must be a bedroom for each person in order to provide privacy. (Studio apartments are for one person only.)  Your portion of the rent is affordable in your budget.  The original internet page (with date and time stamp) MUST follow the "ad" page which will act as a "bibliography" of sorts.  Consult rubric for details and point values.

    NOTE:  For each insurance segment the following needs to be done:

Create an "ad" page for insurance that shows the insurance companies compared, indication as to which company's quote you accepted, write-up that explains the reason for your choice, and other creative features.  For greater points, a chart that compares the COVERAGES (in order to be able to compare "apples" with "apples") of the three companies.  This chart will be made on the computer and will give the reader a clear visual model of each company's quotes.  The original internet quote sheets or insurance agency quote pages must follow the "ad" page.

Printouts from  quality internet (or local) insurance companies that show the car model, make and year as well as the student’s name and address (your chosen apartment address). Types of coverages are listed and the monthly premium (typed calculations shown) for the insurance choices are shown. (Your age is now 24) It is evident that you have talked to an auto insurance agent (or have read the chapter material) to obtain the information. The name and address of the insurance company, agent’s name (if local agency is used) and phone number (where service can be obtained) are highlighted. Three or more quotes are compared. Consult rubric for details and point values. It is clear that the student understands that the distance to work, home address, gender, age, make and model of the vehicle are all factored into the cost of auto insurance.

Printouts from quality internet or local insurance companies are made for the chosen apartment. The correct address of the apartment is shown on the quotes along with the student’s name. The coverages are listed, highlighted and the monthly premium (typed calculations if necessary) is shown. The policies and the write-up indicate your understanding that renter’s insurance covers both property and liability insurance. It is evident that you have talked to an insurance agent (or have read the chapter material) to obtain the information. The name and address of the insurance company, agent’s name (if local agency is used) and phone number (where service can be obtained) are highlighted. Consult rubric for details and point values.

Printouts from quality internet or local insurance companies are made that include the name and address of the company and the agent’s name (if a local agency is used) and phone number.  Permanent and term policies are compared. 

The quotes are compared and a choice is made. The type of policy, face value, monthly premium are highlighted. A write-up is typed to give your reasoning for the choice you made. Consult rubric for details and point values.

Two outfits with shoes are chosen. One is appropriate for your career and one is appropriate for dating or for your favorite weekend activity. An "ad" page is created (as has been previously described) with advertisements that include the store name or catalog label and the price. The page is neat (words are computer generated) and complete with a total of what has been spent for one month. A written explanation supporting clothing choices must be included.  Clothing should stay close within the suggested budget amount or a very good rationale will be written to explain why you are exceeding the budget.

A "ad" page is neatly created with advertisements/tickets/menus or brochures that show prices of three events. A paragraph is included to describe these events with a total monthly cost clearly shown.

The final budget sheet is typed and prepared to show both the projected "textbook" budget categories in dollar amounts and percentage amounts and the "real world" budget changes are shown clearly in dollar amounts and percentages. No category is eliminated and changes are reasonable. Taxes must remain at 20% and savings can increase, not decrease. Student’s name, occupation, annual and monthly gross incomes are clearly shown. This page should also be prepared in a chart, graph or standard formal page format. The comparisons are easy to see and the total dollar amount does not exceed your projected monthly income. It is neat and complete.  Be certain to include the original (scratch) budget sheet for comparison purposes! Consult rubric for details and point values.

The overall project is complete, neat, on time, organized and shows divisions (use tabbed dividers) for the segments of the project and is placed in a small 1/2-1" binder. The project demonstrates that the student understands the concepts and vocabulary. The student has synthesized the learning and demonstrates this in the finished project.

One page typed with at least three paragraphs which address your learning on this project. What was the advantage to doing your own research on each of the topics? What did you learn that you did not know before? Do you feel better prepared to handle your finances and to set goals for yourself financially, educationally and personally?