Part 1 Mike is 18 years old and finished his last year in high school. He is really excited because he has been accepted into the Electrical Engineering Technician program at Cambrian College in Sudbury, Ontario. It is now the end of June and he has to move in by the end of August.

Mike has a full-time summer job that pays $12 per hour as an inventory clerk in a warehouse, which, after taxes and deductions, pays approximately $109.20 every 2 weeks. He has had this job since May 1st . He is looking to get a part-time job as soon as he moves to Sudbury. He does not have any major financial responsibilities since he currently lives at home. He has a cell phone which costs around $33.75 each month. Mike does not have a car since he is still trying to earn enough money for his tuition this summer. His main source of transportation while in Sudbury will be the Greater Sudbury Transit ($2.50 one way).

Mike has chosen to live in student housing in Sudbury. He is sharing a house with three other students. His rent is $400 per month and he splits the utilities with his roommates (approximately $40 per month per roommate). Mike and his roommates have decided they would like to share a phone line, internet and cable. They found a plan that offers all three services charging $120 per month.

ike estimates his monthly food costs to be approximately $195. Mike has decided to keep his cell phone. He uses the Greater Sudbury Transit system to get to school and home each day. He will likely take one other trip using the Greater Sudbury Transit on weekends.

Mike received $3000 from OSAP for the fall semester (September December). He also found a job at a local grocery store paying $8.50 per hour. He works approximately 25 hours per week. Tuition for the fall semester is approximately $2500 (including textbooks).