The Jamison family has 5 people in it, one of which is their oldest daughter, Jesse. Jesse is a Senior in high school and starting to figure out what her financial situation will be when she moves out. First, she wants to figure out how much her current lifestyle, living with her parents, costs. Below is a budget for the Jamison family for one month. Determine how much of the total is Jesse's portion of the cost per month.

Jamison Family Monthly Budget

Rent: $1300

Utilities: $508

• • Electricity: $75
  • Gas/Heating: $75
  • Water/Waste : $40
  • Cell Phones: $140
  • Internet/Cable : $100
  • Auto Insurance: $78

Food: $470

• • Groceries: $250
  • Restaurants/Eating Out: $220

Everything Else: $550

• • Pet Supplies
  • Baby Supplies
  • Clothing
  • Dry Cleaning
  • Personal
  • Gas
  • Home/Personal Care
  • Entertainment
  • Medical Gifts
  • Miscellaneous

Prompts:

What surprised you most about the cost of Jesse's lifestyle?

What could the Jamison family changeabouttheir lifestyle in order to save money?

Research some jobs that make at least enough money per month to supportthe Jamison'scurrent lifestyle that Jesse might want to consider. Name the three jobs you found that sound most interesting to you.

Do you think that your family spends more, less, or about the same as the Jamison family? Explain.

Part 2: Out on her own

It is time for Jesse to move out on her own and she has decided to move to your town! Assuming that she will not get any help from any friends or family to pay for her life after moving out. Complete the following activities.

Prompts:

Do some research in your area about the cost of renting and buying a home. What is the difference in cost per month? What is the difference between renting and buying a home in the short term (over the first year)? What is the difference between renting and buying a home in the long term (15-30 years down the road)? NOTE: use your textbook to help with these questions.

Do some research about jobs Jesse could get in your area thatdoesn'trequire a college degree? Do they pay enough to cover the rent/mortgageonthe homes you researched?

Now research some jobs in your area that do require a college degree. What is the income she could expect from these jobs? Do they pay enough to cover the rent/mortgageonthe homes you researched?

Part 3: Presentation

Use the information you gathered in Part 1 and 2 and create a visual presentation about the cost of living with parents and then the cost of life after moving out.

Your presentation should include information from each of the prompts in Parts 1 and 2.

Review the assignment rubric for more information on the grading of this assignment. (You'll see the rubric when you click into this assignment.)

The presentation should also include a conclusion that answers these questions:

How important is it to get a college degree in the field(s) you are interested in entering?

How much money do you hope to make per year in your field(s) of interest?

From this exercise, what have you noticed are the things that cost the most in life?

What are some things you might have to borrow money for in the future? What are some of the responsibilities and obligations of borrowing money? (Note: see textbook for help with this answer)