| MYLIFE Junior
is a web-based life planning program for Middle School Students,
designed to demonstrate how lifestyle choices can affect career
choice. Through
this activity, students will develop a simulation of their fantasy
future by calculating all their future monthly bills including
rent or house payments, car payments, car maintenance, gasoline,
insurance, utilities, groceries, clothes, and finally entertainment.
After all the monthly bills are totaled, students will determine
the wages needed to support their lifestyle choices. Completion
of this activity opens the door to career exploration to determine
which occupations will support the chosen lifestyle. When beginning
this activity, students should pretend they are 18 years old and
living independently on their own. Good luck and have fun! |
(Click
here for a printable copy of this worksheet)
Worksheet
| Directions:
Click on the link within each question below to complete the worksheet.
After you have completed the worksheet, write the total in the
space provided at the end of each question. |
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Housing:
Click here to
view your choices, make your housing decision, and write your
total monthly housing cost in the space provided on the right.
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| 2.
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Transportation:
Click
here to
view your choices, make your transportation decision, and write
your total monthly vehicle payment, car insurance, registration
& license fee, car maintenance, and monthly cost of gasoline
in the spaces provided below. Hint:
(use the space for your total monthly vehicle payment for the
car or truck payment, motorcycle, scooter or bicycle payment,
or the monthly cost of a bus pass. If you choose the bicycle or
bus passes as your transportation option, you will not need to
fill in the blanks for Insurance, Registration & License Fee,
Maintenance Cost, and Gasoline). |
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Total
Monthly Car, Truck, Motorcycle or Scooter Insurance: |
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Total
Monthly Registration & License Fee: |
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Total
Monthly Car Maintenance Cost: |
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To
determine the total monthly cost of gasoline: multiply (x)
the current cost per gallon of gasoline by the number of gallons
used each month. Hint:
(the number of gallons used each month is listed
in the Breakdown of Cost: Gasoline section below
each vehicle choice on the Transportation page. This is based
on driving the vehicle an average of 12,000 miles per year).
Cost
per gallon of gasoline _$______ X # of gallons
= gasoline cost per month:
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Total
Monthly Cost of Owning Your Vehicle: |
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Groceries:
Click here
to view your food plan choices. You must then make a decision
on which food plan is best for you and write your total average
monthly food cost plus the cost of non-food items in the space
provided on the right. Non-food items could be such things as
soap, cosmetics, toothpaste, laundry soap, etc. |
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Clothing:
Click
here to view
the clothing apparel cost for each item listed under Shopping
Spree. Decide how many of each item you want to purchase and multiply
(x) that number by the cost for each to determine the total cost
for each clothing apparel item. Then add all your totals together
to determine a total yearly cost of clothing and divide (÷)
by
12 months to determine a monthly average cost for clothes. Hint:
(it is ok to leave some spaces blank if this is something you
do not need). |
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Yearly
Cost
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| Sweater
(men's or women's) |
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| Sweat
Shirt (men's or women's) |
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| Casual
Slacks (men's or women's) |
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| Blue
Jeans (men's or women's) |
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| T-Shirts
(men's - new only) |
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| Underwear
(men's or women's - new only) |
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| Women's
Undergarments (Bra - new only) |
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| Handkerchief
(men's or women's - new only) |
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| Dress
Shirt (men's or Women's) |
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| Pajamas/Nightgown
(men's or women's) |
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| Bath
Robe (men's or women's) |
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| Slippers
(men's or women's) |
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| Athletic
Apparel (men's or women's) |
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| Athletic
Shoes (men's or women's) |
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| Winter
Coat (men's or women's) |
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| Gloves
or Mittens (men's or women's) |
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Many
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x
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Cost
for each
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=
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Add
all of the above to determine the Total
Yearly Cost for Clothing: |
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Total
Yearly Cost of Clothing divide (÷)
by 12 = Total Monthly Cost of Clothing:
Total
Monthly Cost for Clothing: |
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Entertainment:
Click
here to view your
entertainment options, make a decision on all your choices, and
write your total monthly cost for each option in the space provided
on the right. Then add all monthly cost together to determine
the total monthly cost for entertainment. |
| Movies
(Theatre or Rental): |
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Monthly
Cost
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| Movie
Rentals - (new releases) |
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| Movie
Rentals - (older movies) |
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| Vending
Machines: |
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| Beverages
(water/soda/juice) |
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| Snacks
(candy bar/chips/cookies |
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| Restaurants: |
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| Specialty
Themed Restaurants |
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| Concerts/
Sporting Event Tickets: |
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| Concerts
(Broadway Play/ Musical) |
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| Concerts
(Ballet & Dance) |
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| Sporting
Events (NFL Tickets) |
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| Sporting
Events (NBA Tickets) |
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| Sporting
Events (Pro or semi pro) |
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| Sporting
Events (College Sports) |
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| Sporting
Events (High School) |
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| Telephone
(land line): |
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write in your telephone (land line) Monthly Cost: |
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| Cell
Phone: |
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write in your Cell Phone Plan # and Monthly Cost: |
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| Cable/Dish
TV: |
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Write
in your Cable/Dish Service Provider below:
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| Internet
Service: |
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write in your Internet Plan # and Monthly Cost: |
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| Vacation
Plan: |
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write in your Vacation Plan # and Monthly Cost: |
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| Health
Club Membership: |
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write in the Monthly Cost for any other entertainment
activities: |
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| Other: |
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write in the Monthly Cost for any other entertainment
activities: |
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| Other: |
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write in the Monthly Cost for any other entertainment
activities: |
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Total Monthly Cost for Entertainment: |
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Insurance:
Click here to view
health, life, and dental insurance choices. Decide which plan
is best for you, and write your total monthly premium in the space
provided on the right. |
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Retirement
Savings Plan : Click here
to view retirement savings plan options. Decide which plan is
best for you, and write your total monthly savings in the space
provided on the right. It is also a good idea to set aside a little
extra cash for emergencies. |
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Other:
Please
consider other monthly expenses, make a decision on all your choices,
and write your total monthly cost for each option in the space
provided below. Then add all monthly cost together to determine
the total monthly cost for other expenses. |
| Hair
Maintenance: You may want to add the cost
of monthly hair maintenance including cuts, coloring and styling.
Since this is different for each individual, please include
the amount you expect to spend each month in the space provided
below: |
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write in the Monthly Cost for Hair Maintenance: |
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| Credit
Card Payments:
Visa, Mastercard, JC Pennies, American Express, etc. |
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write in the Total Minimum Monthly Payment for any Credit
Cards you have: |
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| Student
Loan Payments:
To estimate the cost of your future student loan payments, plan
on $10 per month payment for every $1000 borrowed. Example:
If you borrowed $40,000.00 in student loans, this would be equal
to a $400.00 per month Student Loan Payment. ($10.00 x 40 =
$400.00) |
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write in the Total Monthly Cost for any Student Loan
Payments: |
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| Other: |
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write in the Monthly Cost for any other entertainment
activities: |
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| Other: |
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write in the Monthly Cost for any other entertainment
activities: |
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| Other: |
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write in the Monthly Cost for any other entertainment
activities: |
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Total Monthly Cost for Other Expenses: |
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Total Monthly Expenses
To
figure your Total Monthly Expenses, add together all total monthly
cost from questions 1-7 above.
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Question
# 1: Total Monthly Housing Cost:
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Question
# 2: Total Monthly Cost of Owning
Your Vehicle: |
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Question
# 3: Total Monthly Cost for Groceries: |
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Question
# 4: Total Monthly Cost for Clothing: |
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Question
# 5: Total Monthly Cost for Entertainment: |
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Question
# 6: Total Monthly Premium for Health/Life/Dental
Insurance: |
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Question
# 7: Total Monthly Contributions for
your Retirement Savings Plan: |
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Question
# 8: Total Monthly Cost for Other
Expenses: |
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Putting
It All Together
Calculate
your Gross Monthly Wage: Gross pay is the money
you make before you pay Taxes to the government. Net pay is
your take home pay after all the Taxes are taken out of your
paycheck. Please use the Gross
Pay Calculator to calculate your gross wages per Month.
After clicking on the link for the Gross Pay Calculator, you
will need to choose your tax year and state and then fill
in the spaces provided using the following information:
General
Information:
State
and Local Information for (North Dakota or the State you are
living in):
- Filing
Status - Single
- Allowances
- 0
- Additional
State W/H - 0
Voluntary
Deduction Section:
- Use
0 voluntary deduction(s) for my paycheck - type 0 in the
drop down box. This will change the last section and eliminate
the rest of the questions.
- Click
Calculate and
record your Monthly Gross Wage in the space provided below.
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Total
Monthly Gross Wage:
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Total
Hourly Wage:
The average person works 40 hours per week times (x) 4 weeks
per month for a total of 160 hours worked per month. To figure
your total hourly wage, take your Total Monthly Gross Wage
and divide (÷)
by 160
hours = Total Hourly Wage. Record your total hourly wage in
the space provided on the right.
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|
 05-17-13
| Copyright
© 2008, Steve Beutler, All rights reserved. Permission
granted to use for educational purposes. This website is NOT
to be used for financial gain. |
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