THE LIFE PROJECT

MR. CHIS-LUCA

LIFE PROJECT

The goal of this project is to expose you to the financial, emotional , and physical demands of living on your own. This project will also allow you to refine your career choices and allow you to discover if your choice is right for you.

LIFE PROJECT OBJECTIVES

Everyone in the class will research a prospective career using the websites to the left. If the salary chosen is realistic and falls in line with an average starting salary, you may use it for your budget. From there, you can follow the Budget Worksheet to start formulating costs. Can you afford that nice Condo or new Car? Where can you trim extra or unnecessary costs?

If you are choosing to live out of state you MUST adjust Pay Check City to reflect the taxation of that state. Also, your housing must reflect these costs from another state.

HEALTH CARE

Health Care costs might be included in your profession. If they are, list that and provide PROOF. If they are not covered, just go to any popular health care provider website. (www.aetna.com or www.bluecross.com ) and use the online calculator to get a monthly estimate.

SUGESSTED SEQUENCE

MAKE SURE TO FOLLOW THE SEQUENCE IN ORDER TO FULLFILL EVERY REQUIREMENT

. www.careercruising.com

Go to the above website, enter the Username: northern Password: Burlington and use the matchmaker to explore possible careers

www.mapping-your-future.org

Another great website. Explore possible careers and be sure to check average income. Is this inline with your future goals and lifestyle?

www.paycheckcity.com

Once you choose a career and find the average salary, write down the yearly wage. Go to PayCheckCity and use the “Personal Calculator” to calculate your “net income”. This is the amount of your paycheck AFTER taxes. This is what you will live off of.

Purchase a house or pay rent

Calculate where you would like to live and what your monthly rent/mortgage payment will be. What can you realistically afford. Show PROOF of purchase.

Car payment

That Mustang GT is nice… but can you afford it while paying for a place to live. If you do go for a new car, be sure to document the monthly payment. Show PROOF of purchase

Utilities, groceries, etc…

Talk to your parents to find out what their monthly bills are and how much they spend on groceries every month. Document this in the proper column on you budget worksheet.

COMPLETE BUDGET WORKSHEET THEN COMPLETE LIFE PROJECT

ESSAY QUESTIONS