WEBQUEST

Name:____________________________________________________

Your Situation:

You’re an adult now, earning a yearly salary of $31,500. Now that you are an adult, you will have to learn to manage your money- no more help from anyone! You will have to figure out how to live within your salary.

Your Task:

Your task will be to effectively allocate your limited resources (your monthly salary) with the typical “wants and needs” of everyday life such as rent, transportation, food, and other items. If you only take home $2075.15 per month, how will you be able to meet all of your expenses?

The following information is the breakdown of your monthly paycheck deductions and what is left available for you to spend:

MONTHLY GROSS: $2625.00

FICA: 162.50

MEDICARE: 38.00

STATE INCOME TAX 0.00

FEDERAL INCOME TAX: 346.35

AFTER TAXES: $2075.15

Find a place to live! You may choose anyplace you want, as long as it is in the continental USA ! Keep in mind that some states are cheaper to live in than others!

Now that you’ve found a place, complete the following:

Name of Complex (if applicable): ______________________________________

Street Address:____________________________________________________

City, State Zip:____________________________________________________

Phone: __________________________________________________________

Rent:____________________________________________________________

Apartment Description:____________________________________________

Use the following web sites to hunt for your apartment.

http://www.apartments.com/

http://www.apartmentguide.com/

Now that we’re having fun, let’s find you a car! Keep your budget in mind; you may not be able to afford the car of your dreams!

Now that you’ve found your car, answer the following:

Year/Make/Model of Automobile:______________________________________

Price:____________________________________________________________

Financing Information ( interest rate, monthly payment):_____________________

Web site:

http://www.autotrader.com/

________________________________________________________________

It’s time to look up phone information. Decide if a cell phone is in your budget, too. Research basic service and long distance service plans. Some places to start:

Answer the following:

Name of Telephone Company:_________________________________________

Describe the plan and what it includes:_________________________________

Cell phone? Yes or no? Price for plan._____________________________

http://www.saveonphone.com/

http://www.attconsumer.com/index_js.html

http://www22.verizon.com/foryourhome/SAS/res_cat_localphone.asp

Food! It’s a necessity, you know! Use the following link to compile an itemized list with prices. The site will get you to an “online” grocery store that also has a drugstore and general store component. You should print out your “shopping cart” when you finish shopping. To get to the shopping, click on the store directory.

Answer the following and attach your copy of the shopping cart.

Weekly food allowance: _____________________________________________

Monthly food allowance:_____________________________________________

http://www.netgrocer.com/

http://www.peapod.com

How Much of your salary will be left over?_______________________________

You’ve learned a lot about budgeting, now it’s time to reflect. Write a three-paragraph essay incorporating the following:

Paragraph One:

Is $31,500 a lot of money? Why or why not?

Where did you choose to live and why?

Is setting a budget necessary when living on your own? Explain

Paragraph Two:

Explain the difference between “wants” and needs.”

Why are certain budget items “non-negotiable?"

Paragraph Three:

What did you enjoy about this assignment?

What challenges did you face?

What did you learn?