MONEY MANAGEMENT – WILL YOU SURVIVE? Portfolio Common Task Directions: You will prepare the following: 1. Folder—Write your name neatly on the folder tab 2. Worksheet 3. Budget a. *common task—problem solving rubric *All assignments may be accepted 3 days after the due date; however, ten (10) points will automatically be deducted per day REGARDLESS OF ABSENTEEISM AND REGARDLESS OF SCHEDULED MEETING TIMES—listen to instructor for further clarification. *Minus five (5) points for each checklist or rubric not included with assignments 1. Folder a. Homework grade b. Due______________________ Not accepted after: ___________________ c. Creatively include the following on the folder vertically i. Your name ii. Due date (see letter b. above) iii. Mrs. Murray—Money Management, Period __ iv. Chapter 8 – “Budget and Financial Records” d. Pictures of the following will add nicely i. You and your significant other and/or children ii. Residence iii. Vehicles iv. Optional—pets, pool, etc. e. Neatly paste one sheet of 8 ½ X 11 on the front of your folder with the above info 2. Worksheet a. Test grade b. Due______________________ Not accepted after: ___________________ i. In order to make your budget experience as realistic as possible, your career goal and other information needs to be realistic. Be sure to include at least ONE OPTIONAL piece of information. This will require you to research several sites: a. Employment—bls.gov/OCO, newspapers, person in field (interview), google, bing b. Residence-newspapers, magazines, realtor, realtor.com i. Refer to mortgage/auto calculator worksheet c. Vehicles-newspaper, Autotrader magazine, cars.com i. Refer to mortgage/auto calculator worksheet d. Optional-newspaper, google, bing, etc 2. Print source page(s), highlight necessary information and staple together in the following order: employment, residence, vehicles, optional 3. Staple to the inside, right side of folder, in this order: Budget Report Worksheet, sources packet, Mortgage and Car Loan Calculator Sheet a. Insert Checklist for Budget Worksheet into folder (-5 points if checklist missing) 3. Budget-Common Task- PROBLEM SOLVING RUBRIC Prompt: Now that you’ve read the textbook and/or articles, taken notes, performed your career and lifestyle research, and completed your budget report worksheet, you are ready to prepare your final budget. Based on your anticipated career, lifestyle, and spending goals in 10 years, create on an Excel spreadsheet a realistic monthly and yearly budget that balances. YOU MUST include 10% of net income as savings and you must clearly show how you would allocate your surplus or deficit in order to balance your budget. Be sure to submit both the budget and the budget formulas when printing your Excel spreadsheet. a. Test grade b. Due______________________ Not accepted after: ___________________ c. Be sure to discuss with an adult the expense categories and accurate dollar figures based on your anticipated lifestyle. i. You MUST include the full name, relationship, and telephone number of the person who helped with the budget at the bottom of the Checklist for Budget page as it may be verified. (-5 points if missing). d. You MUST include the following line items in your budget: i. School Loans 1. Associates-230/month 2. Bachelors-460/month 3. Masters-690.month 4. Doctorate-910/month ii. Clothing 1. Business dress -300/month 2. Business casual-100/month 3. Uniform-150/month e. Your GRAND TOTAL income MUST equal your total expenses (including savings) and allocation of surplus/deficit. *THIS MUST BE A REALISTIC BUDGET f. REFLECTION i. Type your standard heading (assignment line Budget Report Reflection) in a Word document. Write a 1 page reflection, Times New Roman, double spaced, discussing how you decided to allocate your expenses in order to balance your budget. g. Staple budget and reflection to inside left side of folder, in this order: Excel spreadsheet original, Excel spreadsheet formulas, Reflection h. Insert this directions page, the Problem Solving School-wide Rubric, the Checklist for Budget Worksheet (already graded), and the Checklist for Budget into your folder. (-5 if missing rubric, -5 if missing either checklist)