Grade:12

Activity:

Personal Finance

Answer each questions

Where would you ideally like to live? How will you afford it?

To help answer these questions, you are going to:

Collect data regarding a career choice

Gather, interpret and compare information about renting and owning an

accommodation

Prepare budget based on possible wages connected to your career

choice.

1.Choosing a Career

Research a career that you are interested in pursuing and include the

following:

Specific education required to obtain a job in this field,

Day to day tasks of this job,

Estimated starting salary,

Location of the job (rural vs urban, particular areas)

2.Rental Accommodations

Where you live, and the type of accommodation available there, may

depend on the type of career you have chosen. Once you know where you

would like to (or are able to) work, you must think about where you'd like to

live. When you search for accommodations, you likely will have more than

one option from which to choose, so you'll have to consider what accommodation features you needand what features you want.

Create an itemized list of features you will need and want in your

future accommodations. Provide an explanation for each.

Research THREE accommodations you would consider renting.

Prepare chart, including:

Description of the accommodations

Costs, including transportation costs to your job location

Compare the degree to which these accommodations have

the features you would like.

3.Owned Accommodations

Research residences for sale in the area you will you be working. Keep in

mind the list of needs you made in Task 2. Select three sale properties that

meet your needs, and for each, complete the following in a chart:

Summarize the associated benefits and costs, including mortgage

payments, mortgage insurance (if applicable),

How and at what cost you would obtain a down payment

Maintenance expenses and taxes

Compare the degree to which these accommodations have the

features you would like.

4.Expenses

Think about what you need and what you want when starting your career.

Research reasonable estimates of what you would spend each month on

the following:

A detailed list of what you need, including accommodation,

transportation, clothing, food, tools and savings.

A detailed list of what you want, including telephone and Internet

service, continuing education, and entertainment.

5.Drafting a Budget

Decide whether you will rent or boy. Provide a detailed explanation of your

decision, referring to all of your previous research.

Did you choose the right accommodation? Is it realistic?

Are there any changes you could make? Could you live within its