Taylor, a single person, has a household budget for monthly expenses but has not really tracked how the leftover money from the budget is spent. Here are the basics of Taylor's household budget:

Net take-home pay: $2,500

Rent and utilities: $1,200

Entertainment: $150

Food/Groceries: $300

Car insurance, upkeep, gasoline: $150

Miscellaneous: $100

Remaining funds: ???

That's it for Taylor's documented household budget. You will want to determine how much money Taylor can save each month, based on the above information. Then please proceed to read about the vacation...

Taylor and friend Parker want to go on a trip to Crater Lake, Oregon, with 18 months to plan for the vacation which will occur in July. They will travel together, but it remains to be seen whether or not they will fly or drive. At this point, assume that they live in the same town or city where you live. If you live in Roseburg, Oregon, for instance, then Taylor and Parker would have a short drive to go to Crater Lake. If you live in Minneapolis, Minnesota, then Taylor and Parker will fly to one of the cities in Oregon that has an airport, such as Medford, Eugene, or Portland. From there, Taylor and Parker would rent a car for their ground transportation.

Neither Taylor nor Parker have more than $50 in their savings accounts, and they don't have access to any other funds; so, they MUST save monthly for the trip. In the case of this trip, Taylor and Parker can split the cost of ground transportation and can split the cost of any hotels or campground fees, or camping tent. Other than those particular shared expenses, assume that the vacation expenses are paid for separately. In particular, you will be concerned with Taylor's budget.

Here are more particulars that must be incorporated into Taylor's vacation budget:

Flight; ground transportation; other transportation costs. (Some of these will be split as previously described.)

Taylor and Parker will spend 3 nights at the Crater Lake Lodge, located in Crater Lake National Park. (They will split the cost 50-50.)

Taylor and Parker will camp for 3 nights in a designated camping spot in Crater Lake National Park. (They will split the campsite cost 50-50. They might also need a new tent for camping, if neither has one that they can use or borrow for the trip.)

Taylor and Parker will need one additional night in a hotel the night before their early morning flight back home. If they are not flying and have a reasonably short drive back to their town/city, then they will not need the extra night's stay in a hotel. The additional night in a hotel and any ground transportation costs will be split between Taylor and Parker.

Other potential costs for the trip include food (3 full meals each day, all from restaurants), LOTS of snacks and beverages); tours and/or recreation such as zip line adventures, day hikes, rafting on the Rogue River, etc.; camping equipment; bear spray; mosquito repellant; backpacks for day hikes; proper clothing for a summer vacation; etc. You are encouraged to think of additional costs that Taylor might encounter and need to budget for.

Here is what you need to submit for this assignment.

1) An Excel spreadsheet, clearly organized and labeled to include Taylor's vacation expenditures (both his/her share of the "shared" expenses as well as her/his own individual expenditures). Provide a grand total for all of the amounts as well. You MUST provide web links for each of the line items and estimated costs. For instance, you can go to the Crater Lake National Park website and find costs of campgrounds, restaurant meals, lodging costs, etc. The links that you provide must directly point to the correct locations so that I can verify the costs. Do not make your instructor hunt for the costs.

After completing Taylor's vacation expenditure budget, answer each of these questions, labeling them as you see them listed below.

1. How much money from Taylor's HOUSEHOLD budget is left over after all monthly expenses have been incurred? In order to answer this question, return to the first portion of this page and subtract the listed expenses from the net take home pay.
2. If Taylor saved the amount in part (a) each month, how much money could be saved in 18 months?
3. Given the Excel spreadsheet that you created for Taylor's individual expenditures, how much must Taylor save EACH month for 18 months to be able to fully pay for his/her share of the vacation? Show your work, which should be a division problem.
4. If Taylor only had $125 each month to save from the household budget, would the trip that you've planned in (1) still be possible without any changes? Why or why not?
5. If the trip estimate totaled $3,250 and Taylor only had $2,500 to devote to the vacation, how could costs be trimmed so that Taylor and Parker could still enjoy the trip to Crater Lake National Park? List and detail 3 specific ways that costs could be trimmed so that Taylor has enough money to take the vacation.
6. If Parker has fine dining expenditures covered, but Taylor's budget only allows for peanut butter and jelly sandwiches, how can they manage to co-exist while dining?