Personal Finance

Ms. Taylor

The Science of Decision-Making
Personal Finance

2005-06

Essential Question: How do the choices we make have economic consequences for our future?
Questions	1. What is a budget? 2. What is the importance of a budget? 3. What choices or alternatives do we have within a budget? 4. What are the consequences (cost/benefit) of the budget decisions we make? 5. How can we use a budget for future planning?
General Links	10 Comandments of Personal Finance Institute of Consumer Financial Education 360 Degrees of Financial Literacy Personal Finance JA Student Center The Mint: It Makes Cents Good information regarding earning, saving, and spending. U.S. Department of Labor Bureau of Labor Statistics Web Ec
Income
Wages and Salaries	U.S. Department of Labor Bureau of Labor Statistics Occupational Outlook Handbook National Compensation Survey Job Statistics 2005 Federal Tax Table Use this table to estimate the amount of federal taxes you will pay on your income. 2004 California Tax Table Yes, you must pay taxes to California as well. Use this table to figure the tax on your income. Add it to your federal amount and subtract the total from your gross income. That amount is the amount you will have approximately to spend throughout the year. Realtor.com Salary Calculator
Expenditures
Cable	Cable rates to rise: Comcast to charge Bay Area customers 6 percent more
Automobiles
Car Insurance	Auto Insurance Rates 2005 Insure.com Best and worst states for auto insurance premiums
Gasoline Costs	Consummerism Commentary How much will I spend on gas in a year? Edmunds.com Articles about fuel efficiency, etc. Consumer Friendly.org Fuel Economy Reports Top 10 States for Highest Gas Prices
Credit Card Payments	Federal Reserve Board: Choosing a Credit Card
Food	Bureau of Labor Statistics Consumer Expenditures in 2004 U.S. Department of Labor Consumer Price Index: Average Price Data Official USDA food plans: cost of food at home at four levels, U.S. average, April 2004
Housing	CNN Money.com: Best Places to Live 2005: San Francisco, CA RentNet: Online Rental Guide jjjjjRent and Budget
Medical Care	The New Yorker Average Price of Health Care
Utilities
	U.S. Department of Labor Consumer Price Index:Gas and Electricity Bureau of Labor Statistics Consumer Expenditures in 2004
Savings (10% of income)	Economists At Odds Over Savings Rates Money Instructor.com Banking, Bank Accounts, and Earning Interest
Student Loans	FinAid Loan Calculator Student Loan Debt: Use the information on this page to figure a monthly payment for your student loans.
Telephone
Handouts	Monthly Income Spreadsheet Monthly Expenditures Spreadsheet Balance for Discretionary Funds Activity 2 Worksheet
Mission High School Library Media Center Michelle Powers: Library Media Teacher Last Revised: March 13, 2006