Your College Budget (Part I)

Today were going to be using Microsoft Excel to create a budget for your college experience. PART 1- Your School For Part 1 figure out what college you will be attending. To do this find a college that is in the location you want, has the major you would like, and has all the other details that are important to you (public or private, campus clubs, sports teams, etc.). College: Major: Cost (tuition and fees) per year __________ PART 2- Where Will You Live? For Part 2, you need to figure out where you will live. Your budget for this is $700 dollars a month. Go to the website www.padmapper.com and find an apartment that is in that price range. Also, keep in mind details that are important to you like whether you can have a pet and the location. How Much is Your Apartment? PART 3- Utilities Generally your utilities (gas, water, electricity, trash) will be about 25% of your rental costs. Based on your rent, how much would that be? Use this formula: Rent x 25% = $__________Utilities __________

PART 4- Food For food per month lets say that on average you spend $20/day. How much would that be each month? ___________ Now add any extra food/drink that you will eat per month. Add:

_________ $25 for every time you will eat out per month _________ $1 for every soda/Gatorade you will drink in a month _________ $2 for every coffee you will have per month _________ $1 for every candy bar/snack you eat What is your total for all food per month? __________

PART 5- Details How much you are going to spend on clothing and personal care expenses. Take an educated guess (using the internet) on how much you will spend on the following details per year: Clothing Electronics/Video Games Trips Sporting Equipment/Fees Entertainment (games, concerts, etc.) Other little things Total _____________ _____________ _____________ _____________ _____________ $500 _____________

PART 6- Cell phone, Internet, and TV Figure out how much it is in your universitys area for: Cell phone per month Internet per month TV per month PART 7- Books In college you buy all your own books. Most universities list the average book price on their website. What is the average price? ______________ ______________ ______________ ______________

Now that youve compared your budget items with your parents and written down their responses, type their cost figures into your spreadsheet. You will do this in column C (Comparison).

Using merge and center button, create title Create categories and headings, adjust your columns to fit, center and bold
headings

Type in your monthly expenses Type in your cost/month Insert rows if needed (highlight the number of rows you want to add, right
click, select insert)

Sum your monthly total Sum your yearly total Create a pie chart by InsertPieSelect StyleSelect DataHighlight your
column headings and expensesHit ok

You have to trim 10% off your budget. Calculate how much you have to save Create a new column called Reduced Budget, copy and paste expenses and
adjust costs to trim 10%

Enter your parents numbers in the appropriate category.

PART 4 After adding in your parents responses, youll add a new set of numbers into column D. Label it Peer 1. In column E add Comparison 2.

In column D type Peer 1. In column E type Comparison 2 In column F type Peer 2. In column G type Comparison 3 Find a partner. In column D (Peer 1) write down the numbers they put in
their column B. (Youre comparing your original cost figures with theirs).

In column E (Comparison 2) write their parents response. Find another partner. In column F (Peer 2) write down the numbers they
put in their column B.

In column G (Comparison 3) write down their parents response.

 Change the orientation of your spreadsheet by going to Page Setup and

clicking on Landscape.

Preview your spreadsheet in Print Preview to make sure all the data is
included on one page. Make changes if necessary so that it will.

Print your spreadsheet and show it to the teacher. Put your spreadsheet in your CommTech binder for grading.

Your spreadsheet should look something like this (see next page):
Expenses Rent Utilitities Food Clothing/Personal Care Car/Insurance/Gas Entertainment Phone/Internet Health Insurance Extras Savings Cost $1,200 300 250 500 1300 200 60 70 25 20 $3,925 Comparison 1 $785 196.25 425 125 410 75 120 70 75 200 $2,481 Peer 1 900 225 100 200 60 200 100 70 25 500 2380 Comparison 2 900 225 350 100 400 50 95 70 50 50 2290 Peer 2 800 200 250 100 60 25 80 70 50 100 1735 Comparison 3 800 200 300 125 50 25 85 70 100 200 1955

PART 5 Now, use the Chart Tools to create a pie chart for EACH of the following using your data.

Pressing down on the CTRL key, highlight column A and Column C. Make a new pie chart. Select the design you want to use. Click Next through each prompt. Make sure to show percentages on your chart (check the appropriate box). You will repeat this process for columns D, E, and F. Show your charts to the teacher. How did they compare with your first one? Print your charts and put in your CommTech binder for grading.
PART 6 All this time youve been making a budget, but you havent been told how much money you actually make at your job. Now comes reality time. Could you make ends meet on your current budget if you worked at the following jobs? You must figure out a new budget for EACH of these jobs. JOB #1: You work at a fast food restaurant. You earn minimum wage which is $8.50/hr. You work 40 hours a week (a total of 160/month.). You earn $1,360 but have to pay taxes so your take home pay is $1,020/month.

Figure out how much you can spend on each category to live within your means.

Are there things you will have to do without? (You must have rent, utilities and food).

 Do research, as necessary, to figure out what you CAN afford. You will likely have to find
a different apartment probably a 1 bedroom or studio. If you elect to have a roommate, your roommate also makes the same wage as you do. (Sorry, no sugar daddies or sugar mommas.)

In a new spreadsheet, enter the information from columns A and B. Label Column C as Minimum Wage. Enter your new budget figures (based on a
minimum wage salary in column C).

Use Auto Sum to get a total that is less than $1,020.

JOB #2: You work in at a florist (flower shop). You earn $10.00 an hour. You work a total of 160 hours/month. Though you earn $1,600 per month, after taxes you have only $1,248 left.

Figure out how much you can spend on each category to live within your means.

Are there things you will have to do without? (You must have rent, utilities and food). a different apartment probably a 1 bedroom or studio. If you elect to have a roommate, your roommate also makes the same wage as you do. (Sorry, no sugar daddies or sugar mommas.)

Do research, as necessary, to figure out what you CAN afford. You will likely have to find Label Column D as $10/hr. Enter your new budget figures (based on this wage in
column D).

Use Auto Sum to get a total that is less than $1,248.

JOB #3: You work in an office as an administrative assistant. You earn $15.00 an hour. You work a total of 160 hours/month ($2,400). After taxes, you have $1,872 per month to live on.

Figure out how much you can spend on each category to live within your means.

Are there things you will have to do without? (You must have rent, utilities and food). a different apartment probably a 1 bedroom or studio. If you elect to have a roommate, your roommate also makes the same wage as you do. (Sorry, no sugar daddies or sugar mommas.)

Do research, as necessary, to figure out what you CAN afford. You will likely have to find Label Column E as $15/hr. Enter your new budget figures (based on this wage in
column E).

Use Auto Sum to get a total that is less than $1,872.

JOB #4: You work in a hospital as a patient services coordinator. You earn $25.00/hr. and work 160 hours a month. After taxes you have $2,340.

 Figure out how much you can spend on each category to live within your means.

Are there things you will have to do without? (You must have rent, utilities and food).

Do research, as necessary, to figure out what you CAN afford. Label Column F as $25/hr. Enter your new budget figures (based on this wage in
column F).

Use Auto Sum to get a total that is less than $2,340. Print out your new spreadsheet (with budgets according to your jobs) and show to your
teacher.
Expenses Rent Utilitities Food Clothing/Personal Care Car/Insurance/Gas Entertainment Phone/Internet Health Insurance Extras Savings Original Budget $1,200 300 250 500 1300 200 60 70 25 20 $3,925 Job #1 Job #2 Job #2 Job #3 Job #4

Note: You will need to put your adjusted figures in these spaces Im not going to do it for you.

Insert all your printed Excel Assignments in your binder after this page. Make sure you have all of the following.
___ Original spreadsheet with Peer and Comparison numbers ___ My budget pie chart ___ Comparison 1 pie chart ___ Peer 1 pie chart ___ Comparison 2 pie chart ___ Spreadsheet with budgets adjusted according to job.