Worksheet for Budget WebQuest
You should have by now printed out your career choice with starting income. If your pay is listed as an hourly rate, multiply that rate by 2000 to find your yearly salary. Write your yearly salary here: $___________________
Use your knowledge of percents to answer the following questions:
Because of taxes, Uncle Sam gets about 30% of your salary. What is 30% of your salary? $__________________
How much is left for you? $_________________
Use your answer from #2 to find what is available for your monthly budget. Write that amount here: $___________________
Use your answer to #3 to calculate how much you can spend each month in each category listed in the table.
Monthly Allowances
Category Percent of Budget Amount
Vehicle |
10% |
|
Housing |
25% |
|
Food |
15% |
|
Savings |
10% |
|
Utilities |
20% |
|
Entertainment |
5% |
|
Other Expenses |
15% |
You now have a monthly budget. Now, go back to the WebQuest and find a house and car that fit into your spending limits. Remember that if you can’t afford it, you can’t have it!
Essay Question #1: After completing your budget, compare and contrast the actual budget with your expectations of the cost of a house and a car? Were you able to afford more or less than what you expected?
Essay Question #2: Having chosen a career and completing a household budget, have you reevaluated your career choice for the future? Give at least three supporting reasons for your decision.
Essay Question #3: Did you enjoy the assignment? Why or why not?