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Just married

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The document provides instructions for couples to create a monthly budget as an exercise. It lists expenses that must be accounted for, including living costs, transportation, entertainment, miscellaneous costs, and savings. Suggestions are provided for estimating grocery costs, determining an affordable mortgage, and getting quotes for car and home insurance. Groups will be assigned financial scenarios and must present their budgets as 10-slide PowerPoint presentations.

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JUST MARRIED!<br />313944010604500<br />Your first task is to develop a reasonable, monthly working budget as a group. A couple of parameters<br />The couple may NOT opt to live with parents. Each couple has to account for independent living situations.<br />Each couple must account for both a chequing and savings account. The budget must take into account an amount for savings on a monthly basis. Your income in automatically deposited into your chequing account and your expenses will come out of this account.<br />Each group will be given a unique scenario which illustrates the present financial situation of the couple. Your budget must account for all of the following: <br />-living expenses<br />*based on your given salaries/wages, determine whether it is appropriate that your couple rents or purchases their abode<br />mortgage/rent<br />house insurance<br />hydro<br />gas<br />telephone<br />property taxes<br />maintenance fees (if purchasing a condo)<br />groceries<br />clothing<br />-transportation<br />*based on your given salary/wages, determine whether your couples purchases or leases a vehicle(s) or uses public transportation<br />car payments (lease, financing, etc.)<br />insurance (remember for EACH vehicle)<br />gas<br />fare/passes (if taking public transportation)<br />-entertainment<br />*based on your given salary/wages, determine what the couple can afford<br />e.g. movies, eating out<br />television<br />internet<br />cell phone<br />-miscellaneous<br />*based on your given salary/wages, determine what the couple can afford<br />monthly savings<br />charitable donations (e.g. church)<br />weekly allowance<br />-incidentals<br />*From time-to-time, unexpected expenses are incurred How do you prepare for these types of situations? <br />gifts<br />(automobile) accidents <br />Some suggestions: <br />-to calculate your grocery bill, take a trip to the store armed with a calculator to come up with an approximation<br />-when attempting to determine what kind of mortgage you can afford, visit the websites of the major banks and use their online calculators<br />-in trying to determine car payments, visit the automakers websites and build your own vehicle (assuming you wish to purchase a new car); inquire regarding used vehicles<br />-for vehicle and house insurance, visit various company websites; ask your parents which company they use and visit that site for an online quote<br />On FRIDAY, DECEMBER 10, 2010, present your budget in a Power Point presentation (maximum of 10 slides). Each presentation will be posted on the class blog. <br />
Just married

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Just married

  • 1. JUST MARRIED!<br />313944010604500<br />Your first task is to develop a reasonable, monthly working budget as a group. A couple of parameters<br />The couple may NOT opt to live with parents. Each couple has to account for independent living situations.<br />Each couple must account for both a chequing and savings account. The budget must take into account an amount for savings on a monthly basis. Your income in automatically deposited into your chequing account and your expenses will come out of this account.<br />Each group will be given a unique scenario which illustrates the present financial situation of the couple. Your budget must account for all of the following: <br />-living expenses<br />*based on your given salaries/wages, determine whether it is appropriate that your couple rents or purchases their abode<br />mortgage/rent<br />house insurance<br />hydro<br />gas<br />telephone<br />property taxes<br />maintenance fees (if purchasing a condo)<br />groceries<br />clothing<br />-transportation<br />*based on your given salary/wages, determine whether your couples purchases or leases a vehicle(s) or uses public transportation<br />car payments (lease, financing, etc.)<br />insurance (remember for EACH vehicle)<br />gas<br />fare/passes (if taking public transportation)<br />-entertainment<br />*based on your given salary/wages, determine what the couple can afford<br />e.g. movies, eating out<br />television<br />internet<br />cell phone<br />-miscellaneous<br />*based on your given salary/wages, determine what the couple can afford<br />monthly savings<br />charitable donations (e.g. church)<br />weekly allowance<br />-incidentals<br />*From time-to-time, unexpected expenses are incurred How do you prepare for these types of situations? <br />gifts<br />(automobile) accidents <br />Some suggestions: <br />-to calculate your grocery bill, take a trip to the store armed with a calculator to come up with an approximation<br />-when attempting to determine what kind of mortgage you can afford, visit the websites of the major banks and use their online calculators<br />-in trying to determine car payments, visit the automakers websites and build your own vehicle (assuming you wish to purchase a new car); inquire regarding used vehicles<br />-for vehicle and house insurance, visit various company websites; ask your parents which company they use and visit that site for an online quote<br />On FRIDAY, DECEMBER 10, 2010, present your budget in a Power Point presentation (maximum of 10 slides). Each presentation will be posted on the class blog. <br />