NB: I choose a Nurse job

Gimme Shelter, Task A

Economics/Rudesill

TaskA: Evaluating Your Financial Situation

Directions- Use this worksheet to organize your evidence and interpretations for your Gimme Shelter slide deck. The more depth and detail you provide the higher your grade will be. Show all your number work. Keep track of all other sites you use that are not linked.

1. Using the College and Career analysis work you did, provide the following information:

-Job Title and Description

-Name and Location of Company

-Entry level Salary

-Possible student debt amount (monthly loan payment?)

-Growth expectations for your field, sector, or industry

Bureau of Labor Statistics Occupational Outlook Handbook

-marital status (if you are married then you will have to stay in Sonoma County but you will

have two incomes)

Why Marriage Makes Financial Sense

2.How much income will you need to afford a home and the down payment? How long will you

have to work at your job to get to that level? How much income will you need to rent a home,

apartment, etc.? (first and last, security deposit etc.) How long will it take you to save this

amount of money?

3. Evaluate your credit score. How good/bad is it? What do credit ratings agencies use to

determine it? What negative information might have lowered your score? How do you improve

and/or maintain your score? What kinds of advantages and/or disadvantages will it provide?

How does your marital status affect your credit score?

Debt and Property in Marriage

Credit Reports and Scores

4. Using your credit score and income information, describe the loan (FHA, conventional, etc.) you

would likely qualify for: principal amount, interest rate, mortgage insurance amount, necessary

down payment, government program, commissions and/or fees, any other pertinent

requirements or restrictions. (Pro-Tip: mobile homes, apartments, and condominiums require a

specific loan, and a regular loan will not apply)

5.Explain how your credit score impacted your loan options and monthly loan payment.

Realistically explain how you acquired the down payment. Use the loan savings calculator at

myfico.com

Loan Savings Calculator

6. Evaluate the affordability of a home relative to your income and the amount you would likely

qualify. What percentage of your salary will be dedicated to your house payment? How would

that compare to renting something, what percentage of your salary would that take?

7. Using zillow or redfin, select and provide the characteristics (number of bedrooms/bathrooms,

location, lot size, date of construction, price and sales history, ratings of local schools) for two

different either possible purchases or rentals (house, townhouse, apartment, condominium).

8. Summarize the most significant reasons that this is a good choice for you. Include a

counter-argument that explains which issues cause you to question the purchase and possibly

decide to rent. Include the characteristics of the home you have selected for rent or purchase:

address, square footage, number of bedrooms and bathrooms.

9. How did you use yourWhy Johnny Can't Chooseprinciples in this process?

NB: I choose a Nurse job