Cost of Living Worksheet

(1)

Career Exploration Project

Mrs. Tarver

College and Careers

STEP 1: We are going to be exploring careers. First, we will begin to determine your personal monthly cost of living. Cost of living items include such things as renting or buying a house, the style of car you wish to drive, electric/gas,

phone, and grocery bills. You will be able to ?ill in the education loan amount, which is determined by the level of education needed for your career.

STEP 2: Second, you will choose a career from your “Career Inventory” and investigate the following topics:

salaries, level of education/training needed, nature of the work, and job outlooks. Try to choose a career that interests you. You will develop up a career brochure for the class.

STEP 3: Third, you will determine if your job will be able to provide for your own future cost of living. You will

do an individual reDlection on what you have learned. Within the re?lection, you need to address whether the career chosen would provide enough money for your monthly cost of living. Also, you need to re?lect on whether or not you would still choose this job or do another career.

STEP 4: The Dinal portion of the project will be the career brochure of your chosen career. The following

items need to be addressed within the brochure. 1. Job choice

2. Salary range 3. Nature of the work

a. What people do in the career

b. Work environment

c. Positives and negatives of the job 4. Education and training required for the career. 5. Job outlook-‐ What does a “typical day” look like?

6. Related occupations

7. Average monthly net salary 8. Other information about the job

Cost of Living Worksheet

1. What type of home will you live in? _______________________ a. What will be your monthly payment _________________

(2)

Average Monthly Cost Chart

Rent Homeowner

Type Monthly Payment Type Monthly Payment

1 bedroom-‐

Apartment $600 2 bedroom/1 bath (≈ $116,000)

$650 2 bedroom-‐

Apartment $750 3 bedroom/ 1+bath (≈ $127,000)

$875 3 bedroom-‐

Apartment $850 3 bedroom/2 bath (≈ $155,000) $950 2 bedroom-‐House $975 4 bedroom/ 2 bath (≈ $185,000) $1030 3 bedroom-‐House $1050

2. What type of car will you drive? _____________________________ a. What will be your monthly payment?____________________ Average Monthly Car Payment?

Used Car: (at least 3 years old) New Car:

Type Monthly payment Type Monthly Payment

Sedan $250 Sedan $430

Sport $315 Sport $575

SUV/Truck $425 SUV/ Truck $610

3. Every car owner must have car insurance to be able to get license plates to drive the vehicle. Determine how much your monthly insurance cost will be according to the style of car you chose in number 2. Unfortunately boys, your insurance rates run higher than girls. Check out the correct chart. NOTE: The insurance is billed by every six months. You MUST determine the cost per month.

a. Average monthly car insurance payment: _________________________

Female: male:

Type Monthly payment Type Monthly Payment

New $1380 for 6 months New $1572 for 6 months Used $1075 for 6 months Used $1340 for 6 months

4. You need to determine how you will keep your house up and running. Determine if you will have gas and electric or just electricity.

a. Cost of Electricity:_______________

b. Cost of Gas:_____________________ (It is OK if you don’t have a gas bill) Electric Bill Monthly Payment

(3)

Electric (without Gas) $ 235

Gas $107

Average Monthly Electric/Gas Bill:

5. The following are bills that MUST be paid monthly.

Type Average Monthly payment

Water/Sewer/Trash $105

Groceries $450

Phone/Cell $117

Gas for traveling $258

6. STOP!!! You must wait to research your career BEFORE you select this bill. If you went to technical college or university, you will more than likely have a student loan to pay off. Therefore, if you job requires additional schooling, the following chart will give you an average monthly payment for your career according to the level of education.

Type of education loan Average Monthly payment

Vocational Training $ 108 (cost per month for 15 years) Bachelor’s $554 (cost per month for 20 years) Master’s or higher $729 (cost per month for 20 years)

Type of loan needed for career________________________ Amount of Monthly payment for loan.___________________

Monthly Budget Worksheet

Type of Payment Amount of Payment House Payment

Car Payment

Car Insurance Payment Electric/Gas

Water Groceries Phone

Gas for traveling Education Loan Total Cost

My monthly cost of living is _____________________.

According to my career choice, my monthly net salary is __________________.

(4)

1. Select a career from your “Career Inventory.” 2. Describe the nature of the work for this career.

a. What do people in this career do?

b. What is the work environment like?

c. What would be some positives and negatives of the job?

3. Describe the education and training required for the career.

a. What type of degree do you need for this job? (H.S. diploma, bachelor’s degree, master’s degree, etc)

b. IF the job does NOT require a college degree, do you need to get some type of additional training?

(5)

4. What is the Job Outlook for this career? Fill out the following information for this section. If there is more than one job listed, choose one for your project.

How is the job projected to grow? ______________________________________ # of Jobs in 2015:_______________________________

# of projected jobs in 2015-‐20:_______________________________

Is this an increase or decrease in jobs?__________________________________ What is the lowest 10% earnings?____________________________

What is the highest 10% earnings?____________________________ What is the median earnings? ________________________________ Are the earnings hourly or a yearly salary? _________________________

5. What are some related occupations? (list at least two other jobs) ___________________________________________________________________

6. If your salary is a yearly salary, take your median salary, divide it by 12. Round the amount to the

nearest dollar. This is your monthly gross salary. .

$____________________ ÷ 12 = $_______________ (monthly gross salary)

If your job is hourly, take your median hourly salary, multiply it by 8 hours/day and times 20 days/month. OR $________________ x 8 hours/day x 20 days/month = $_______________ (monthly gross salary)

7. Take the monthly gross salary and multiply by 65%. Round the amount to

the nearest dollar. This is your monthly take home salary (monthly net salary).

$_________________ x 0.65 = $__________________ (monthly net salary)

My Career Choice ReDlection

On this page, you will be re?lecting on your career choice.

1. Did your career choice provide you with enough money for your monthly cost of living?_______

2. What would you change to meet your monthly cost of living?

_________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________

3. On the next few lines, write at least a 5 -‐ 7 sentence paragraph re?lecting on the career you chose. Would you still choose this job or would you choose a different career. Explain your reasoning for your decision.

(6)

_________________________________________________________________________________________________________________________________ _________________________________________________________________________________________________________________________________ _________________________________________________________________________________________________________________________________ _____________________________________________________________________

Scoring Guide

Topic 4 3 2 0

Cost of Living Worksheet Monthly Budget

Worksheet (X 2)

Properly transferred and calculated monthly

budget cost

ONE minor transfer

mistake resulting in miscalculation

Two to four transfer

mistake resulting in a miscalculation of

monthly budget

Must redo

Re?lection Re?lection states whether they met their budget, identi?ies what would they would change and whether they would still

choose this career, explaining why with 3

reasons.

Re?lection states whether they met their budget, identi?ies what

would they would change and whether they would still choose

this career, explaining why with 2 reasons.

Re?lection states whether they met

their budget, identi?ies what would

they would change and whether they would still choose this career, explaining why

with only 1 reason.

Must Redo

Career Brochure Degree & College

selection, plus Admission Requirements

(X 2)

Identi?ied type of degree required and selected a MO college or university, Identi?ied required ACT/ SAT score, GPA, and all

credit requirements

Either identi?ied type of degree or selected MO

college or university, Identi?ied required ACT/SAT score and GPA,

and most of credit requirements

Identi?ied required ACT/SAT score and

GPA

Must redo

Job Choice/Salary States job choice with salary range

Must redo Math requirements

for Career States the levels and FIVE topics in math used in the job

States the levels and

FOUR topics in math

used in the job

States the levels and

at least two topics in

math used in the job

Must redo Nature of Work Describes what people do,

the work environment, and at least two positives/ negatives of job

Describes all but one of

the requirements Describes all but two of the requirements Must redo Education/Training

for Career

• Describes in detail what type of degree/training needed for job. • Described any

additional training or certi?ications for career

Describes in detail at least one of the training

requirements for the career

Must redo Must redo

Job Outlook Completely answered #7

in brochure questions from #7 in Addressed all but 2 brochure

Only addressed half of the questions on

question #7 in brochure

Must redo

Related Jobs States two related occupations.

Must redo