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Pleaseee help!I have no time left and schools almost over I’m so far behind! If you help me with all the parts I will litterally give you all my points and I have 593!!~civics~


Part A
Next, you will answer some questions and conduct some internet research in order to create your own budget. Answer the following questions:

Choose a job. What is its average annual salary? Once you’ve found this number, divide it by 12 to get a monthly income number.

Choose a city. How much does the average one-bedroom apartment cost there?

What is the average monthly cost of utilities in your chosen city?

Choose a type of cable—basic or premium. What is its monthly cost?

Choose an internet provider. What is its monthly cost?

Choose a transportation method: bus or walking. What is the monthly cost?

Choose a phone service: cell or landline. What is the monthly cost?

What is the average monthly cost for groceries for one person? How much will you budget?

What is the average monthly cost of clothing for one person? How much will you budget?

Will you travel? Buy gifts? Make donations to an organization? Eat at restaurants? If so, add these to your budget.



Part B
Now it’s time to create your own budget using the table below. Plug in your monthly income and the known expenses that you just researched. (For the purposes of this activity, let’s assume that the monthly income you researched is after taxes.) Then, choose the other categories you would like to spend money on. Plug the amounts you plan to spend each month on those categories.




Part C
Write a summary of your budget. Include information about income and expenses, and explain what categories you chose to put your money into. Explain why you made these choices. Your summary should include:

a general description of your source of income;

which categories you have allotted more money to;

the categories you included for variable expenses;

why you think this is the best use of your money; and

why you ruled out other options.

Were you able to save some money for unplanned expenses? Where do you think your actual expenses might vary, and why?






Part A
A household may calculate a monthly budget using hundreds of dollars. The federal government uses trillions of dollars! The Congressional Budget Office (CBO) releases extremely detailed data on all the money flowing into and out of the government. Instead of looking at complicated lists of numbers, let’s look at some infographics that the CBO has created for the year 2018. Visit the Congressional Budget Office site and scroll down to look at the infographics. One shows the money coming in (revenues), and the other shows the money being spent (outlays, also called expenses). Fill in the following chart.





Part B
The infographic for spending shows two categories of discretionary spending: defense and nondefense. This is because the US military and the defense of our nation take up much more of the discretionary spending budget than other categories. The nondefense category covers many subcategories. Look at the chart below for some other examples. Research what the government spends money on in each of these subcategories.






Part C
Why do you think the federal government’s budget is broken down in this way? Do you think government leaders should make different choices about how to spend money? Explain your answer.




Part D
The processes of creating a personal budget and those for creating the federal budget are obviously quite different, but what similarities did you notice? Why do you think the government’s nondiscretionary expenses are so large? Are your nondiscretionary expenses also larger than your discretionary expenses? Explain your answer.

Sagot :

paynelove19

Answer:

Project Portfolio: Financial Awareness

      When deciding to live independently you need to consider all costs that make up a budget. Food budgeting is a necessary part of becoming independent.  Cars and other forms of transportation are costly but essential. Understanding  the true cost of renting a place independently and understanding actual take home income versus gross income will help ensure you do not spend money that you do not have.  Living with your family and living all by yourself is like living on two different planets.   While living on your own is scary, you can develop life skills, time management, and responsibility, which can take you to the next stage of life.

      Budgeting for groceries is necessary to keep my overall budget in check.  The national average for groceries is $151.00 weekly or $604.00 monthly.  My daily meal plan was over  budget, and it is important for me to focus on what I can afford.   If I calculate 10-15% of my income for groceries it should be within my budget.  It is essential to stay on budget when living independent or you could go into debt.  Shopping for groceries can take time at first, comparing the best deals or buying in bulk can really keep my expenses down and help keep my overall budget on track.  This will also help allow extra money for public transportation and save for purchasing a vehicle of my own.  

    Purchasing a vehicle will require research that will fit within my budget.  I am yearning for a Jeep Wrangler X.  The 2011 has the amazing style that I desire, and I believe it would complement my astounding, unique style.  The total cost of $13,950.00 with a down payment of $6,000.00 making the car payment $198.00 monthly.  The vehicle payment and insurance are within budget, however, maintenance, gas, and repairs for this vehicle could end up over budget.  After researching the cost of owning this vehicle, purchasing this vehicle would not be reasonable for me at this time. In conclusion it would be more beneficial to purchase a reasonable vehicle with the money I save of $6000.00 while living with my parents.  It is possible to buy a vehicle for $5000.00 and save the additional $1,000.00 for any emergency repairs and avoid car payments.  

    Housing costs are an expenditure you must include in your budget.  Would love to live in Oceanside, CA., by the sea and to be able to walk around in my bathing suit whenever I want too!  I would choose a studio apartment which has one room, so the bedroom is in the same room as the kitchen and living room, only the bathroom is separate from the living space.  Deciding this will work well within my budget and I would not have to deal with roommates, and also gives me the opportunity to put away savings to eventually purchase a home of my own.  Monthly payment for a studio apartment in Oceanside, CA is $1,375.00, which is a sensible cost for my current budget. Some utilities are included in rent, apart from cable $85.00, internet $60.00, and cell phone of $243.00, and these would be part of the additional cost of rent, which would total $388.00 per month, plus rent of $1,375.00 equaling a total cost of $1,763.00 a month.  

    My wages are a key element to my independence and are necessary for planning my budget.  If I  make $28.00 an hour and work 40 hours, I will make $4,480.00. After deducting taxes of $343.00, it will leave me $4,137.00.  My expenses of $3,386.00 will leave a reserve of $1,094.00.   To be independent, I need to be aware of your income, expenses, and reserves as I can only count on myself.

     

    Lastly, budgeting and being independent puts me on the path to solving many of life’s financial difficulties.  In researching a budget, I have found there are many next steps that I can take towards my goals.  I can live within my finances or make changes to benefit me in years to come.  First, I should have financial goals that I am working towards and create a plan to achieve my goals.  Secondly, I can use cash only because it’s not fun owing money.   Credit cards mean I am not in control of my finances and I believe there is no financial confidence in that.  Thirdly, an emergency fund is essentially for me to set aside to cover any of life's unexpected events. This money will allow me to live for a few months should I happen to lose my job or if emergency funds are needed.  This emergency money which I put aside will offer me easy backup funds if some unfortunate event happens to occur.  In my final thoughts of living with my family or living independently it will take many adjustments and planning.   Living with your parents is like living in a royal palace; you will enjoy the luxuries of an elegant house, clean laundry, and a slightly bigger budget, but you will also have to defer to the king and queen of the realm.  You will quickly discover that if your sovereigns are not happy, neither are you.  

Explanation:

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