Lifestyles of the Rich and Famous - ME Grade

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Lifestyles of the Rich and

Famous - ME

Parent Involvement

Grade

8

Reality Check

jumpstart.org/realitycheck Log on to the above website and complete the survey, then fill in the following information. 1. To maintain my desired lifestyle, I would have to make: $___________ per hour/ $__________ per week. 2. Possible careers that would allow me to make this amount are: _______________________ at $_______per hour _______________________ at $_______per hour _______________________ at $_______per hour 3. To achieve this career I would have to have the following amount of education __________________________.

Now, let’s see how long it will take you to save for the Florida vacation.

Let’s say that you plan to save 5% of your weekly earnings for your vacation. Steps 1.

Multiply your weekly earnings from #1 above by 5% (example $760 x 5% =$38.00) 2.

Divide the cost of your vacation by the answer from step #1 to get the number of weeks you must save. (example $5000÷38=131.5 weeks or rounded to the nearest whole week 132 weeks) 3.

Divide your number of weeks from step #2 by 52 to calculate how many years you must save. (example 132÷52=2.5 years) SO…. With our example, it would take the person 132 weeks or 2 ½ years to save for their vacation. Based on my earnings, I would have to save $_______ per week (answer to #1) for _________ weeks (answer to #2) or _______ years (answer to #3) to go on my Florida vacation.

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