Unexpected Expenses

http://edweb.sdsu.edu/courses/edtec596/Units/Respon/UnexpectedExp.html

Introduction

The activities for week two will continue to focus on money management. You will be given an unexpected expense in which you must figure into your monthly budget. You may need to make adjustments in other areas of your budget in order to make this work. You may also receive a bonus on some days. These may include such things as winning the lottery, finding $100, or receiving a bonus at your job for good work done. Make sure that you add this money to your income for the month.

The Task

At the end of this lesson you will be able to:

Apply math to real life situations
Gather information and organize it in a useful manner
Show your knowledge of the cost of living
Show the skills of being a responsible person through money management
Calculate percentages
Use technology as a resource

The Process

Your boss gave you a bonus for a job well done. This was a one time bonus of $200. But, uh-oh, your car was totalled in an accident. You now must buy a new car. Search through the following resources for the best deal that you can find. Determine what your monthly payment will be if you put $100 down, you have a 3 YEAR loan and a fixed APR (Annual Percentage Rate) of 6.9% (Assume that tax and license are included in the cost of the car). You will need to find the best price on the following types of cars:

Toyota Camry
Toyota 4-Runner
Ford Escort
Ford Explorer
Nissan Sentra
Acura Integra

These resources will help you to find the information needed.The list of automobiles that you were asked to search for above, are only to guide you as to the make of car that you will be looking for. The model for each type of car may be selected by you. Be careful with your selection. You must be able to determine what is affordable according to your budget. Make a responsible choice!

Toyota will provide you with a list of cars that you can click on the picture of the car that you like and find out the price.
Ford will allow you to select the car of your choice and then click on the image of the calculator to determine expense.
Nissan will give you a listing of cars that you may click on to find their price.
Other Makers allows you to click on the maker of the car and then click on the automobile for a price quote.

After you have listed the information requested above, decide which car best suits your needs and adjust your monthly budget accordingly.

Evaluation

Your grade for this week will be determined by the following criteria:

An organized table of data which presents the cost of each of the vehicles above
1. Total cost
2. Less $100 down
3. 6.9% APR
4. Monthly cost
An organized budget of monthly expenses similar to the budget developed the week prior to this lesson but be sure to include:
1. New expense
2. Bonus' this month

Conclusion

How did you do this month? Write a short summary of your views on money management. Were you aware before of the expenses that we acquire throughout our lifetime? Are you any more aware than you were before? Now that you have developed some idea of how to budget your income, we will begin next weeks lesson with a discussion about determining future expenses.

Last updated April 28, 1996. Return to the Responsibility Page