Can I Do It On My Own?A WebQuest for 9th-12 Grade Consumer Math Students Designed by Keith Bacon
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Introduction | Task | Process | Evaluation | Conclusion | Credits IntroductionYou have just graduated from high school and you decide to take a year off before heading to college. Instead of living with your parents for another year you and a friend decide to get an apartment for one year as you make decisions about your future. At the end of this journey you and your roommate will be able to make an informed decision about living on your own and what you need to do to make ends meet. You will also have a better understanding of the possible career paths. TaskYou and your roommate must complete the following tasks using the resources provided below to create a PowerPoint that summarizes all that you learned.
1. Find a job. Remember, you are a recent high school graduate. 2. Estimate Monthly Income (after taxes) 3. Find an apartment 4. Create a personal budget 5. Pay off a credit card 6. Buy a car
TopProcessTask One – Get a Job!!!
Research 3 jobs at http://www.khake.com/page2.html and fill in the box below so you can make an informed comparison.
Task Two: Calculate Net Monthly Income (AfterTaxes) Using the following calculator http://www.dinkytown.net/java/HomeBudget.html identify your gross monthly income. Find out how much money you will be taking home after taxes.
Task Three: Get an Apartment Go to http://www.apartmentguide.com to find an apartment.
Task Four: Create a Personal Budget Using the following websites learn about budgeting and then create a personal budget. http://www.themint.org/saving/savespendplan.php#wheretobegin Use this worksheet to help determine your budget http://www.enterprisefoundation.org/model%20documents/Record%201350.pdf Expense Sheet http://www.enterprisefoundation.org/model%20documents/Record%201347.pdf
Task Five: Debt Payoff Plan
The average American has ________________in debt. Let’s just say that you have $3,000 in credit card debt. Choose a calculator to assist you in completing the following payment plans and then answer the questions that follow.
Debt Payoff Calculator http://www.dinkytown.net/java/DebtAmount.html - Multiple Debt Plan http://www.dinkytown.net/java/PayoffCC.html - Single Debt Plan http://www.dinkytown.net/java/DebtRolldown.html - Which Card do I pay off first?
SCENARIO #1 How long will it take you to pay off this debt if you pay only the minimum payment as advised by the bank?
SCENARIO #2 How long will it take you to pay off this debt if you pay DOUBLE the amount the bank advises you to pay?
SCENARIO #3
You set a goal to be debt free in 12 months. How much will you need to pay each month to have this debt paid off in this amount of time?
Task Six: Buy a car First visit http://www.kellybluebook.com to find a car that you want to buy.
Task Seven: Auto Loan Payoff Plan Now that you have found the car of your dreams let’s find out how much it will really cost you. Use the following calculator to identify how long it will take to pay it off and how much you will actually pay for it.
http://www.dinkytown.net/java/AutoPayoff.html
Task Eight: Put it all together Create a PowerPoint presentation that contains what you have learned above.
Other Financial Calculators Checkbook Balancer http://www.dinkytown.net/java/CheckBook.html
Resources http://www.enterprisefoundation.org/resources/ERD/Browse.asp?c=85
EvaluationEach member will be evaluated based upon the following criterion
ConclusionNow that you have given the independent life a try you should now have a better idea as to what it actually costs. Are you ready? Here are a few more websites that may assist you in that transition from living with your parents to a life on your own. Credits & ReferencesList here the sources of any images, music or text that you're using (with permission, of course). Provide links back to the original source. Say thanks to anyone who provided resources, help or inspiration. Don't relist all the links you've already included. They're self-documenting. As a matter of style and to keep ownership clear, all pages that you call up that are external to this site should appear in a new window outside of this frame. Add "TARGET=_BLANK" to the link to bring this about. List any books and other analog media that you used as information sources as well. Include a link back to The WebQuest Page and the Design Patterns page so that others can acquire the latest version of this template and training materials. You might want to include the following statement: "We all benefit by being generous with our work. Permission is hereby granted for other educators to copy this WebQuest, update or otherwise modify it, and post it elsewhere provided that the original author's name is retained along with a link back to the original URL of this WebQuest. On the line after the original author's name, you may add Modified by (your name) on (date). If you do modify it, please let me know and provide the new URL."
Last updated on (put date here). Based on a template from The WebQuest Page |
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