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Warm Up Journal The Wilkinson family plans to see The Avengers: Age of Ultron Saturday. They use the theater’s price list to decide when to go see the movie. Adult Child Matinee $5.75 $5.75 Evening $8.00 $5.75 1. The family has two adults and two children. How much can they save by going to a matinee showing? 2. How much will a matinee showing cost the family? Budgeting for Essential Expenses Part 3: Expenses and Discretionary Income You have 8 Essential Expenses to choose and pay: Housing Gas Car Gasoline Water/Electric Homeowner’s/Renter’s Insurance Car Insurance Phone MORTGAGE/HOUSE OPTIONS • Apartment – RENT ($450 a month) • 2 bedroom, 1 bathroom house – MORTGAGE ($250 a month for 30 years) • Condo in the city – MORTGAGE ($833 a month for 30 years) • 4 bedroom, 2 bathroom house – MORTGAGE ($1,500 a month for 30 years) • Mansion – MORTGAGE ($3,002 a month for 35 years) ELECTRICITY/WATER OPTIONS • Apartment – $100 a month • 2 bedroom, 1 bathroom house – $150 a month • Condo in the city – $200 a month • 4 bedroom, 2 bathroom house – $250 a month • Mansion – $450 a month NATURAL GAS FOR YOUR HOUSE • Apartment – $50 a month • 2 bedroom, 1 bathroom house – $150 a month • Condo in the city – $175 a month • 4 bedroom, 2 bathroom house – $200 a month • Mansion – $250 a month HOUSE/RENTAL INSURANCE OPTIONS • Apartment – $20 a month • 2 bedroom, 1 bathroom house – $40 a month • Condo in the city – $60 a month • 4 bedroom, 2 bathroom house – $80 a month • Mansion – $150 a month Car Payment Options • • • • • • * 5 year loan option=60 months 2 door coupe: $18,290 4 door sedan: $23,090 4 door SUV: $29,455 Truck: $25,800 Sports Car: $45,780 DCTA/DART System Year Pass: $1,600 Car Insurance Typical car insurance rates by gender: (Pick the gender of your person.) Female: $140/month Male: $159/month GASOLINE FOR YOUR CAR OPTIONS • 2 door coupe – $80 a month • 4 door sedan – $100 a month • 4 door SUV – $250 a month • Truck – $300 a month • Sports Car – $275 a month CELL PHONE DATA PLAN • Pre-Paid: $39.99 a month • BlackBerry: $75 a month • Galaxy: $100 a month • iPhone: $120 a month Monthly Disposable Income f_________________________ Essential (Fixed) Expenses Description Housing Water/Electric Gas Home Insurance Car Payment Car Insurance Gasoline Phone Option _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ Expense g_________________________ h_________________________ i_________________________ j_________________________ k_________________________ l_________________________ m_________________________ n_________________________ Total Essential Expenses (Must be less than Monthly Disposable Income) o_________________________(g+h+i+j+k+l+m+n) Monthly Discretionary Income p_________________________(f – o)