Professional Documents
Culture Documents
I
Purpose: Compare needs, wants and consequences of spending with consideration of personal financial resources.
Assignment:
- Create a balanced budget for yourself
- Go through the choices listed and choose which you want.
- Pay attention to how often a cost is paid – weekly, monthly, annually, etc. and find the total for a monthly cost.
- Total up the costs you have chosen and determine how much you will have to work to pay for your expenses.
- If you choose to live at home, choose that option when listed for various expenses; if it is not listed, you must
total up the options you would like.
D. Technology
$150
E. Other Costs
$165
1 bedroom 1 bedroom 2 bedroom 1000sq. ft. 2 bedroom 1100sq. ft. Live at home
$800 utilities included $800 plus utilities $1000 utilities $1000 plus utilities $250/mo. to
included contribute to the
(water, gas, Laundry in suite Laundry in suite
household
electricity) (water, gas,
electricity)
A. Living Arrangements
Monthly total:
B. Transportation
Monthly total:
#1 Thrifty plan
- Lots of grains, basic produce and dairy, minimal meat
#2 Low-cost plan
- lots of grains and produce, basic dairy and meat, minimal prepared foods
#3 Moderate plan
- lots of grains, produce and dairy, basic meats and prepared food
#4 Liberal plan
- lots of grains, produce and dairy; lots of meat and prepared food
#5 Live at home plan - $0
- Groceries included as long as you contribute to the household.
Grains include: rice, pasta, bread, cereal, baked goods; will also include corn and beans
Produce includes: fresh, frozen and canned fruits and vegetables
Dairy: Milk, block cheese, yogurt. For cost purposes, eggs will be included with dairy. Fancy cheese, specialty milks, or
other dairy products will bump the cost level up.
Meat includes: beef, chicken, pork, fish, etc. Basic meat will be mostly chicken, ground meats and deli meats. Steak,
roasts, ribs, bacon, shellfish, etc. will bump costs up a level.
Prepared Foods: Most food in the middle aisles: Cereals, frozen meals (pizza, microwave dinners, fries, etc.), sweets and
treats (cookies, ice cream, pop, chips, etc.), prepared foods like Kraft dinner, Side Kicks, Mr. Noodles, etc.
$2.83
These are estimates based on real plans. Most cell plans include 3-4 extra costs and monthly fees depending on add-ons
and company policies. If you don’t know how much data you use in a month, use the link below to calculate it. You can
turn off or limit your data use by accessing Wi-Fi for most of your online use.
http://www.virginmobile.ca/en/support/data-support.html?province=AB&geoResult=AB
Add-ons
These are additional monthly costs for mobile plans; these services are not included in the packages above.
Option # 1
$
Add on costs:
$70
- Caller-ID - $5/mo.
- Voicemail - $5/mo.
- 100mins international calling – $15
- Data add-on 1GB for $15/mo.
- International text messaging
o 100 messages $5/mo.
o Unlimited $10/mo.
- International calling – $0.25/minute
Internet plan
Plan #1 Plan #2 Plan #3 Plan #4
$35/mo. for 3mo. $40/mo. for 3mo. $45/mo. for 6mo. $50/mo. for 6mo.
$65 After first 3 $75 After first 3 $85 After first 6 $100/mo. After first 6
5Mbps download 15Mbps download 30Mbps download 1505Mbps download
5 Mbps or less: Basic Web 10–25 Mbps: Moderate 25–40 Mbps: Heavy HD 40+ Mbps: Constant
surfing and email high-definition (HD) streaming, online gaming, streaming, online gaming,
streaming, online gaming, and downloading, with and downloading, with a
l5–10 Mbps: Web surfing
and downloading files, many connected devices large number of connected
and email, with occasional
shared among several devices
streaming and online
connected devices
gaming, shared among a
few connected devices
Internet total:
$35
These are typical rates for Alberta. Plans and packages vary by company and location.
How much speed do you need: https://www.highspeedinternet.com/how-much-internet-speed-do-i-need
$30/mo. for 3mo. $40/mo. for 3mo. $75/mo. For 3mo. Living at
home $0
$46/mo. after $65/mo. after $93/mo. after
Netflix
Basic - $9.99/mo. Standard - $13.99/mo. Premium - $16.99/mo.
Other Subscriptions
o Crave TV - $9.99/mo. +Movies+HBO – 19.98
o Hulu - $5.99/mo.
o Xbox Live - $70/yr. ($5.83-$10/mo.)
o Playstation Plus Subscription - $70/yr. ($5.83-11.99/mo.)
o Other subscriptions – search for price, or assume they are $8/mo.
________
________
________
________
________
Digital Entertainment total:
D. Technology
Cell phone total: $______
Monthly Total:
Clothing: (Required)
- #1 Used (Thrift & consignment): $20/mo.
- #2 New, non-brand: $35/mo.
- #3 Brand name: $80/mo. $20
Exercise:
- Gym membership: $100/month
- Fitness classes: $40/month
- Sports leagues: varies by sport, assume about $30/mo. $ 30
Entertainment:
- Movies at the theatre: $20 (w/ snacks $35/person)
- Other expenses will vary, include based on your habits
Eating out
- $100/month (fast food 1/week and 2 sit down meals/mo.)
- $200/ month (fast food up to 3/week, 2 sit down meal/mo.)
o Add $15 if 18+ and you have alcohol with sit down meals $0
Banking:
o ATM access, Transaction fees, Monthly fees – check your actual bank costs and use your total for last
month.
- If you do not know, assume that it is about $15/mo. for bank fees $ 15
- Do you have to pay fees with your bank?
D. Other costs
Monthly total:
$0