13.++Budget+and+Rubric

BUDGET SHEET
=== The student will be expected to develop a personal budget that integrates all of the above activities. The student will learn about setting up a personal budget in class, so they may use those skills learned and they may use some Additional Resources provided below. The budget should be placed at the back of the booklet, and IT MUST BALANCE! ===

EXTRA CREDIT (possibility of 10 extra points – select one)
*NOTE: One suggested financial goal will be to get savings to $1000 as quickly as possible. The student must decide how long it will take to save this amount and at what monthly savings rate will this goal be achieved.*
 * 1) The student may think of at least 3 financial goals they would like to achieve in the future and set up a time-frame for achieving them. Goals will vary by individual, but could be related to education, purchasing a house, car, or some other large expense, or possibly an amount to have once retired.
 * 1) The student may research the concept of a credit score and how to improve it. Be sure to include the impact a credit score has on individual interest rates.
 * 2) The student will choose one of the following websites from below and write a site review. The review must be at least 3 paragraphs. Remember to include how this website could assist you in future financial decisions.
 * 3) The student may choose a company whose stock they would like to buy and monitor its progress over time. You should follow this stock for at least 6 weeks. The progress must be monitored on a weekly basis.
 * 4) The student will think of some purchases they would like to make in the future. For example, they may wish to buy a new television, boat, or anything of that nature. Then, they will research the overall costs associated with this/these items and develop a savings plan to pay cash for them so that they can avoid financing it.

Additional Resources
*Listed below there are a few websites that may provide some general financial help in setting up a budget and tips for saving money, etc.* Reader’s Digest Living (Money) [] Dave Ramsey [] Money Central (from MSN.com) [] The Clark Howard Show [] Personal Budgeting Tips []

Bank Rate [|http://www.bankrate.com] Investor Words [|http://www.investorwords.com] Get Rich Slowly [] Financial Calculators []


 * ** Computation Chart ** ||
 * * FICA tax is 6.2% of monthly earnings and Medicare tax is 1.4% of monthly earnings.
 * Federal Taxes- claiming one- over $30,000 annual=11%, under $29,999=9%, and under $20,000=5% for this project.
 * Federal Taxes-claiming zero-over $30,000 annual=13%, under $29,999=10%, and under $20,000=6% for this project
 * State Taxes-over $30,000 annual=4%, under $29,999=3%, under $20,000=2% ||