Getting Around
Transport
You need to decide how you are going to
travel to and from work and out and
about.
Your choices are:
1.
Public Transport
2.
Running a Car
3.
Self propelled (bike or walk)

Which?

Discuss the advantages and disadvantages
of each:
Buying a Car
You are going to investigate the cost of running a car
You will need to consider
(a)
Car loan
(b)
Car tax
(c)
Insurance
(d)
Running costs
Use the car sales board to find a car you like and complete
the car loans and alternative transport pages of the
booklet to find out if you can afford it.
Car Loans
 Car loans are typically offered with repayment schemes of between 2 to 5 years.
 Calculated at 5.6% per year
 To find the total monthly repayment amount for the loan use the table below and
find out if you can afford the cost of a car.
Price of car
Total amount of
repayments. Multiply (a) by
1.056
Loan period in months
(number of years multiplied
by 12)
Monthly repayments (b)
divided by (c)
(a)
(b)
Notice that the actual amount the car is costing you goes up if you take a longer loan
period.
Petrol
The amount petrol costs you, depends on the price set by the petrol companies and the
government tax upon that (combining to make the price you pay at he pumps) and length
of the journey travelled in the car. The cost also depends on the size and efficiency of the
engine in the car. Currently petrol prices are approximately 99p per litre (but it is rising
and very changeable). As a guide we have provided approximate weekly costs for petrol
dependant on the type of car.
Complete this table to work out the monthly cost of motoring;
Monthly Cost
Car Loan
Petrol
Insurance
Tax
Parking
Total
Now you can fill in the transport section of your personal budget.
Make a Decision!
1. Decide if you wish to travel by car, bike or
public transport and complete your transport
section of your personal budget.
Personal Budget
Name:
Occupation:
Location:
Gross Salary:
Payslips, Tax and National Insurance
Monthly Salary
Monthly
Monthly Tax
(gross)
National Insurance
Monthly Salary
(net)
Property
Mortgage
Potential
Rent or Buy
Monthly Cost
of Mortgage or
Rent
Household
Bills
Total Monthly Money
Property Cost Left
Transport
Mode of
Transport
Cost of Ticket
(Monthly)
Cost of Loan
(Monthly)
Additional
Costs; Fuel,
Car-Tax etc…
Total Monthly
Cost of
Transport
Spending the Rest
Calculate your remaining funds for a month
= [Monthly Salary (net)] – [Total Property Cost + Total Cost of Transport]
=
This is your budget for food, clothes and having fun ect.
Fill in this table, deciding how much you are going to spend in each category
For food you will need a budget of at least £15 per week
Food
Clothes
Sports Clubs
Going out with friends
Cinema
Savings (for holidays ect.)
Spending it all
Now you have paid for your accommodation and
sorted out your transport the rest of the
money is yours to spend as you wish.
Don’t forget:
(a) Food (minimum £15 a week but you will be
hungry)
(b) Clothing
(c) Savings (for emergencies or holidays)
(d) Pensions
Review
How do you feel about your budget?
Has it changed what you want to do?
How can you make things easier for yourself?
Fill in the “what would I do differently” sheet.
Did we miss anything out?