Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Personal finance activity saving up for purchases

08/10/2021 Client: muhammad11 Deadline: 2 Day

Saving Up For Purchases

5.4 Saving Up for Purchases
Personal Finance Portfolio: Part 4
Note: This is one part of a Personal Finance Portfolio in the course that we will be working on throughout the semester. The completed portfolio will count 10% of your final grade.

Activity Goal
This Personal Finance Activity will help you see how long it might take on minimum wage to save up for a large purchase. Understanding how to save and live on a budget will help you plan for large purchases in your future.

Directions
Read the following paragraph about the hypothetical budget you could be living on if you were making minimum wage. Calculate the totals for your monthly budget (what would you fill in the third column below) and then answer the five questions that follow.

You are living on your own, sharing rent with a roommate, trying to save up for college, and working for minimum wage ($7.25) at a fast food restaurant. You work 40 hours per week and take a bus to and from work five days a week. Along with saving for tuition, you are also trying to save enough to have 4 months’ rent in your account, a new car so you don't have to take the bus and a vacation to Cancún with some of your friends. The amounts for Rent and Utilities in the first two rows are your half of the total for rent and utilities; your roommate pays the other half of both expenses.

Monthly BudgetItemCostMonthly TotalRent$260Utilities (cable, Internet, water, and electricityCable & Internet: $30, water: $20, electricity: $40Groceries$50 per weekEntertainment$20 per weekPublic transportation$1.50 per bus rideClothing$50Cell phone$45
Questions
Approximately how much is your gross salary per month? Because you would be in the lowest tax bracket, you would be taxed at approximately 15 percent. How much would you actually take home every two-week pay period? How much would you take home each month?

How much are your total monthly expenses? What other costs may you incur that are not included in your monthly budget? How much disposable income do you have each month?

How long would it take you to save 4 months’ rent?

You found an old, used car that you want to buy so you can stop taking the bus. It costs $2,000. How long would it take you to save up for the car?

Flights to Cancún are $380 round trip. The hotel where your friends are staying will cost $75 a night and you will be staying 3 nights. What would the total cost of your trip be? Be realistic in including additional expenses (e.g. food and entertainment.) How long would it take to save up for the vacation?

Given the above scenarios, which major expense would you save for first? Explain your answer, providing at least three reasons.

Rubric
The rubric below will be used to grade your project.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Financial Assignments
Calculation Guru
Maths Master
Study Master
Solution Provider
Engineering Solutions
Writer Writer Name Offer Chat
Financial Assignments

ONLINE

Financial Assignments

I have read your project details. I can do this within your deadline.

$23 Chat With Writer
Calculation Guru

ONLINE

Calculation Guru

I will cover all the points which you have mentioned in your project details.

$29 Chat With Writer
Maths Master

ONLINE

Maths Master

I have read and understood all your initial requirements, and I am very professional in this task.

$22 Chat With Writer
Study Master

ONLINE

Study Master

You can award me any time as I am ready to start your project curiously. Waiting for your positive response. Thank you!

$35 Chat With Writer
Solution Provider

ONLINE

Solution Provider

You can award me any time as I am ready to start your project curiously. Waiting for your positive response. Thank you!

$42 Chat With Writer
Engineering Solutions

ONLINE

Engineering Solutions

Give me a chance, i will do this with my best efforts

$41 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

How to calculate cumulative repricing gap - Iodine deficiency disorders ppt - Interactive healthcare training login - Sea duck 5 letters - 2/22 mackenzie street lavender bay - Descriptive approach to problem solving - Laboratory quality control troubleshooting - Information technology and organizational learning - Cost of the merchandise sold schedule first-in, first-out method portable dvd players - Idexx vetlyte electrolyte analyzer - How do nurses use linear equations - Dan gartrell theory and methods - Organizational design for dunkin donuts - Keys to college success 8th edition free download - Baa baa black sheep keyboard - Lusus naturae margaret atwood full text - Ppt - The bad seed plot - How to make histogram in excel mac 2011 - Gotham company purchased a new machine - Rip the middle class they say i say - Module 5 Discussion 2 - Edward de bono net worth - Ph titration of vinegar lab report - Macbeth act 1 scene 1 annotations - A1 and a2 size - Chemistry Final Test. - Western oregon university email - Activity diagram for cab booking system - Building rapport in Negotiation - Henshel v. Clair County Road Commission (Ch 10, p 343) - English-Quotation Analysis - Drama - Albert einstein critical thinkers - Examples of empirical indicators in nursing - Sir charles gairdner hospital dental clinic - Discussions - Scholarly activity summary grand canyon university - Srs 2 social awareness - Square stone keep castles advantages disadvantages - Practical Connection - Carbolic smoke ball case brief - Ifrs 9-2: what is revaluation of plant assets? when should revaluation be applied? - Isometric view of cuboid - How to find voc in thevenin - Dyes and dyeing organic chemistry lab report - Nurs 6512 week 4 soap note - It general controls review - Simplify the expression below show your work 7y 12 - Argumentative essay education should be free for everyone - Case study search engines in global business - Autobiography of a brown buffalo sparknotes - Alaska airlines volunteer for later flight - Fire extinguisher training pull aim squeeze sweep - Assignment 2: Confirm Academic Integrity - Business Law - Case Study : Mr. C - Parts of an earthworm diagram - Flexible budget favorable unfavorable - Assignment 2 - Abdominal aortic aneurysm nursing - American dream casting - Beer lambert law ppt - Flame test lab answers conclusion - Pecs meaning in entrepreneurship - How to sterilize carbide burs - Plato's allegory of the cave pdf - Merck river blindness ethical issues - Touchstone 3.2: Draft an Argumentative Research Essay - Concurrent disorders certificate program - What is the root element of an html document - Blood vessel, blood pressure and blood components. - She's a teenage dream if you hate yourself song - E-COMMERCE - Dth services are provided by - Individual report - Question 2 - California climograph - Nicks fish and chips wodonga - What is the divinity and humanity of jesus christ - Using method of joints determine the force - How to set a series recording on shaw pvr - Wk 1 assign 6053 - Whistleblowing in publicly traded companies within the last 12 months - Shrek test taking strategy - The trial balance of watteau co does not balance - Lizard evolution virtual lab answers - How old was fred hollows when he died - Co2 dragster design and construction - Integrated vs self sustaining foreign subsidiary - Ieee 802.15 4 ppt - Www saeta org au - Unacknowledged or Galactic Messengers Discussion - movie review - Front windshield defroster kit - Molar mass of diphosphorus pentoxide - Project Plan Inception - Alpha to omega placement test - How does gladwell define high risk activism - What is the purpose of a critical literature review - Critical angle of glass prism - Chapter 14 to kill a mockingbird quotes