This project was created for a Career and Life Management Course.
The students are "pretending" they are 20 something years old and need to move out of their parent's home. The purpose of this project is to help students learn how to budget and manage financial resources effectively. They may choose to live with a roommate or by themselves.
The project includes:
(1) paycheque definitions
(2) paycheque calculations
(3) to have a roommate or not?
(4) different types of rental accommodations
(5) finding a place to rent
(6) rental expenses (tenant insurance, electricity, natural gas, water, phone, satellite, internet bills)
(7) find out if they are spending more than 35% of their "net income" on housing expenses
(8) Moving in expenses
(9) household maintenance
(10) transportation: "buy" a car (includes going online and seeing how much a loan payment is, interest, etc). Or they can do public transportation
(11) Things to consider before buying a used vehicle
(12) Vehicle operating costs
(14) Clothing expenses
(15) Healthcare/hygiene/life insurance
(16) Recreatation/Entertainment expenses
(18) Charities/Gift Expenses
(19) Misc. Items
(20) Summary of Monthly Expenses
(21) Figure out if they can live the way they would like on the budget that is given to them.
It is a project that has been revised many times by myself to make it better and better. There are at least 60hrs put into this assignment. It is very well detailed. It is meant to be partly independent and partly based on teacher directed. I let my students have a partner if they want it, but they each need to do their own booklet because part of it (e.g. buying a vehicle) they have to each do.