Due on: _____________________ Name: ____________________________

Budgeting AssignmentFor this assignment, you will pretend you have just graduated high school or college (depending on your own personal goals). You will research possible full-time jobs, apartments, and phone/internet plans. You will create a budget that will allow you to live within your means. You will create a poster with all required items and a short paragraph describing your selections.

1. Find a Job- Go to http://www.jobbank.gc.ca/home-eng.do, or http://www.indeed.ca/- Search for a job you are interested in. (Try using Advanced Search)- Make sure the job is full-time and requires the appropriate level of

education.- The job can be in any city you want to live in.- Try to find a job that provides you with salary information. If you cannot

find the salary information for that specific posting, ask for help looking for an average salary for that type of job.

Once you have found your job:o Print off the job posting and salary information.o Calculate your hourly, weekly, monthly and annual salary.o Write your calculations neatly on a separate piece of paper (to be

put on your poster later)

2. Find an Apartment- Go to https://www.realtor.ca/ or http://www.kijiji.ca/- Search for an apartment in the city you work in.- Your apartment should be modest and affordable (not more than half of

your monthly salary)Once you have found your apartment:

o Print off the advertisement for your apartmento Calculate the difference between your monthly salary and your

monthly rent. (How much money will you have left over after paying rent?)

o Write a check for first and last months rent to give to your new landlord (make up any name for your landlord).

3. Find a Phone and Internet plan- Go to http://www.rogers.com/home, http://www.bell.ca/, or

http://www.cogeco.ca/en/internet/

Due on: _____________________ Name: ____________________________

- Find a cell phone plan that suits your needs (and income). - Find a residential internet plan that suits your needs (and income)

Once you have found your planso Record the monthly cost of your phone plano Record the monthly cost of your internet plano Add your rent, phone and internet costs togethero Find the difference between your monthly salary and the number

you just calculated. This is how much money you have left for things like food, clothes, entertainment, etc.

4. Create a Budget- Now that you have determined your fixed costs, you need to budget for

your variable costs.

Needs/Wants Cost per Month Cost per Week

Food & Groceries

Clothing

Entertainment

Savings

Other

- Fill in the balance sheet provided for one month. Use all of the information you have gathered so far to complete this sheet. (Each week has a blank space for “Other”. Only use it if you want to)

Date Transaction Debit Credit Balance

11/1/16 First and Last Months rent

11/2/16 Groceries

11/3/16 Misc.

11/4/16 Paycheck

Due on: _____________________ Name: ____________________________

11/5/16 Entertainment

11/9/16 Groceries

11/11/16

Misc

11/12/16

Entertainment

11/16/16

Groceries

11/17/16

Misc

11/18/16

Paycheck

11/18/16

Entertainment

11/23/16

Groceries

11/24/16

Phone Bill

11/24/16

Internet Bill

11/25/16

Misc

11/26/16

Entertainment

11/30/16

Groceries

12/1/16 December Rent

Starting Balance: $3 000.005. Determine your Savings

- It is important to save money for future unknown emergencies, vacations or other big ticket items.

- At the end of the month did you end up with a positive balance in your bank account? If so, determine how much money you will put into a savings account. If not, write about what you would do differently in your reflection.

Due on: _____________________ Name: ____________________________

6. Write a Reflection- Write a short paragraph about what you learned in this assignment

Examples: Types of jobs your interested in, cost of renting an apartment, how expensive it is to support yourself, education level you want to achieve, what city you want to live in and why

- If you ended up with a positive balance in your bank account, include how much money you will put in a savings account

- If you ended up with a negative balance in your bank account, make sure you talk about what you will do differently the next time you make a budget

7. Complete your poster- Past all of your work to your poster. - This should include:

o Job Postingo Hourly, Weekly, Monthly, Annual Salary Calculationo Apartment Ado First and Last Month’s Rent chequeo Variable costs budget (needs/wants chart)o November Balance Sheeto Reflection

Assessment Checklist

Requirement Included Points

Appropriate job posting chosen 1 2 3 4

All salaries calculated correctly 1 2 3 4 5

Appropriate apartment chosen 1 2 3 4

First & last month’s rent cheque correct 1 2 3 4 5

Due on: _____________________ Name: ____________________________

Variable costs budget correct 1 2 3 4

November balance sheet correct 1 2 3 4 5 6 7 8

Reflection communicated clearly 1 2 3 4

Poster is well organized 1 2 3

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