StudyXY
RegisterLog in

Budgeting for Life After High School

High school budgeting activity featuring a real-life scenario for college student Lisa. Students create a zero-based budget using her income, expenses, and support funds to learn personal finance, savings, and responsible spending.

Daniel Miller
Contributor
4.9
53
6 months ago
Preview (3 of 9 Pages)
100%
Purchase to unlock

Page 1

Budgeting for Life After High School - Page 1 preview image

Loading page ...

Budgetinglor Life After HighSchoolCHAPTER 2, LESSON 6NAME(S)DATE15 Sep 2023Andrea BujandaDIRECTIONSUse the budget forms i n this activity t o create a zero-based budget for each of these three scenarios.Scenario OneLisais a third-year college student living alone in an apartment. She works 2 0 hours a weekata local bank, making $10 per hour. Usa hasa savings account that shebuilt u p during highschool and by working full-time summer jobs. During the school year, she withdraws $350per month to help cover her living expenses. Lisa s college tuition and books are coveredb y her scholarships. Her parents help b y providing an additional $500 a month and alsoprovide her health insurance. Lisa's fixed monthly expenses are:1Rent:$600• Insurance (renter Sand identity theft):$25• Car insurance:$110• Utilities:$60• Cell phone:$60• Streaming services:$40* Lisds budget should include giving and saving. It could also include spending categorieslike the following; food, gas, entertainment and personal.1Gross monthly income from part-time job:8002.Net monthly income from part-time job:Deduct 20% of the income for payroll taxes (gross income x . 8 0 = net income)640□F O U N D A T I O N S I N PERSONAL FINANCEPAGE 1 OF 3

Page 2

Page 3

Preview Mode

This document has 9 pages. Sign in to access the full document!

Study Now!

XY-Copilot AI
Unlimited Access
Secure Payment
Instant Access
24/7 Support
Document Chat

Document Details

Subject
Finance

Related Documents

View all
Past Exams

Texas Life and Health Insurance Exam 150 Questions

A study-sharing site offering verified Q&A for the Texas Life and Health Insurance Exam. Ideal for candidates preparing for certification with updated 2023 content, covering key laws, policies, and insurance concepts.

Class Notes

Understanding Obligation and Deobligation in Resou

Obligation: legally reserving funds for expenses e.g: travel orders. Deobligation: adjusting obligations downward when actual costs are less, freeing funds for other needs. Ensures efficient effective use of finite resources in government operations.

Solved Assignments

Ch 4 les 1

Zach, a college freshman, uses his new credit card with a 19% APR for emergencies during a work break, facing minimum payments that may lead to costly interest and debt.

Class Notes

Understanding Credit Reports Analyzing John's Fina

This activity uses John Doe's financial story and a sample credit report to help students learn how to read and understand credit reports. Students analyze his credit use, debts, and recent financial inquiries to answer related questions.

Solved Assignments

Financial Analysis - GE1

This document contains a financial analysis assignment solution.

Solved Assignments

Efficiency Test in US Stock Market

An assignment analyzing the efficiency of the U.S. stock market and its financial implications.

Solved Assignments

Financial Planning and Budget Analysis

A financial study on budgeting techniques and financial planning strategies.

Solved Assignments

Financial Research Report

A detailed report analyzing financial trends, risk factors, and economic indicators.

Solved Assignments

CEO pay at John Deere and Caterpillar

Compares CEO pay at two companies.

Solved Assignments

WACC Project Verizon Communication Inc

This document provides a comprehensive analysis of the Weighted Average Cost of Capital (WACC) for Verizon, offering insights into financial decision-making and investment strategies.