Working for a living project

Working for a LivingDavid Diaz

Per.4

3/19/11

Income

• Occupation: Athletic Trainer

• Median Annual starting salary:

• 35,870.00

• Gross monthly income:

• 26,902.50

• Net Monthly Income:

• 2,241.88

ExpensesHousing

• Monthly Rent: $955.00

• 1 bed; 1 bathroom

• 811 S. Fairview Santa Ana, CA 92704

Transportation

• Car Selected:

• 2001 Honda Accord EX 2D Coupe

Source: Carmax.com Price: $9,599.00New

Source: orangecounty.backpage.com

Price: $6,498.00Used

Source: Crxsi.com Price: $6,800.00New

Mean Price: $7,632.33

Transportation Continued • # of Months of Loan:38 Months

• Monthly Payment:$300

• Interest rate: 3.49%

Car Price: $6498,00

Monthly Car Insurance:

$100.00 for a Month

$1200.00 for a year

+ gas($100) = $200 per Month.

Food

• Food estimate:

• $65 a week

Utilities

• Location: Santa Ana

• Electricity: $35.00

• Water: $95.00

• Gas: $30.00

• Trash Service:

• 20% of $955 of my rent is: $191.00 for Utilities.

Phone

• Home Phone:$50.00

• Cell phone: $45.00

•Texting Plan •Minute Plan

Entertainment

• Recreation: $40.00

• Movies• Magazines • Running shoes

Cable/Dish

• At&t: $34.00

Clothing

• Clothes: $100.00

•Pants •Shirts•Hat•Gloves•Jackets

Student Loan Payment

• Student Loan: $6,265.00

Monthly: $74.37

Savings

• 5% of my monthly net income: $112.09

Miscellaneous

• 2% of my monthly net income for miscellaneous expenses: $44.83

Net Monthly IncomeHousing $955.00

Car paymentCar Insurance

$300$200 per Month

GasFoodUtilities

$30.00$65.00$191.00

Home PhoneCell Phone

$50.00$45.00

Cable/ Satellite T.V $34.00

Clothing $100.00

Entertainment/Recreation $40.00

Student Loan $74.37

Savings $112.09

Miscellaneous $44.83

Total expenses:

$2,241.29

Difference between income(2241.88) and Expenses(2241.29):

$0.59

Questions1. Total expenses for the entire year will be :$26,895.48

2. I would lower my expense in entertainment and cable TV. Since I know I can do without it. It is important to spend my money on my top priorities that matter like my house rent and car payments and especially food.

3. No I don’t have enough money to give exactly .8% to increase my monthly budget. Since I only have $0.59 cents left from wasting all my money on expenses there is no more money to save.

4. If I did get a raise of .5% for next month then I would change put $112.00 more dollars in my savings account. Because its better to save more money when a raise comes to increase that amount in the bank faster.

5. What surprise me when completing this project was the fact that my money shrunk quickly one dollar at a time. So quickly that I seem poor from when I started in the beginning. I can see now that its how you spend your money that counts! I learned to start saving now!!

6. In this project I had my future career set and I realized that I need to mange my money even more. It’s a test that comes as a high school student, to see the perspective on how we organize and how our money will dramatically effect us. Being mature and wise on what we spend and how often we choose to buy something, comes to show how important education is. I loved and enjoyed every minute of this math project because it will have a lasting influence on my future.