Name:
Date:
Period:
Economics
Topic: Introduction to Economics Moving Budget activity
Please complete activity in a different color besides black, red, and
yellow😊
Bell ringer:
Predict what might happen if a homeowner fails to make his or her
mortgage payments.
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Date:
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Assignment:
You and your friend have decided to move into an apartment together. You each
earn on average $450 each per week. Create a budget and find a place you can live
comfortably together on realestate.com, apartments.com, or realtor.com. Answer
the following questions based on your projected moving preference in Miami.
1. Which area, do you both like?
2. What is the Average price of rent per month in Miami?
3. How much do you EACH agree to set aside for food (consider that a couple
pay approx. $100-150 per week)
4. How much money do you EACH agree to set aside for the electricity bill
(this costs a couple approx. $30 per week)
5. How much do you need to put aside for YOUR mobile phone habits? (need to
divide your monthly by 4 to get your weekly)
6. How much will you set aside for cable/ Wi-Fi?
7. How much will you set aside for water and sewer?
8. How much do YOU need for transportation (if you owned a car it could be
dearer than catching public transport)
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Date:
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9. How much do YOU have left to be able to afford rent?
10. Research house/units in your agreed upon area. Pick one you BOTH can agree
on. What is the address and how much does it cost per week?
11. How much money do YOU have left to save or spend on leisure? (You may
need to rethink your house/unit)
12. Who do YOU need to contact in order to view this house/unit?
13. Create a mini budget sheet for all your living expenses
Monthly Income
combined
Expenses
Total
Income
Left over
Budget
(How much money are you
planning to spend on this expense?)
Actual
(How much money are
you actually spending on the
expense?)