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Budgetproject 1
Budgetproject 1
Test your budgeting skills as you Play the Game of Life! Below you will make choices
about what type of life you will have as you grow up, those decisions will lead you to
have to make budgeting choices! Starting out, make some choices about your
education and job!
Job Options After College: Circle 1 or Job Options after High School: Circle 1
Artist ($45,080)
Budget Building
Part 1: Income and Taxes
FICA (7.6%)
For help with the tax brackets, determine where you fall based on your income, you
will pay the number first listed plus the percentage times the remaining money you
make after the highest salary of the bracket before you.
For example if you make $43,000 and are calculating Federal Income Tax
Part 2: Cost of Necessities Use the next 2 pages to fill in the following!
Groceries
Water
Electricity &
Gas
Toiletries
Loan Payments
Budget Project: Classifieds for Housing
Budget Project: Utilities
Gas & Electric Toiletries
Water
Check which of the following optional expenses you will choose to include in your budget. When
estimating cost, be sure to include the frequency of the cost (monthly, yearly, every week, etc.).
Amount
Item Amount Annually Optional?
Monthly
Annually Monthly
Total Expenses
Necessary Expenses
Optional Expenses
Amount Remaining
Part 5: Reflection on Budgeting Process
Answer the following questions now that you have completed your budgeting game of life!
Did you choose the correct career path at the beginning of the game? Why or why not?
Where you surprised by any of the costs that you encountered through out this project, Explain?
How did your budgeting turn out, were you able to afford the things that you wanted?
Has anything about this project changed your mind on what your future plans will be when you
graduate high school?