Create a Budget Part 5

Introduction

Text Box: Objective/ Target: I can add, subtract and multiply decimalsName______________________

Project: Create a personal budget (PART 5) : Choose a Vehicle

 

  1. It’s time to find out how much to spend on your car including gas and insurance.

 

  1. Watch the videos on how banks and loans work : https://www.youtube.com/watch?v=2Ly9LRHd1Kc

https://www.youtube.com/watch?v=HA8voAVn1jk

 

  1. Multiply your monthly income by 0.15 to find your monthly car budget which includes car payment, insurance and gas. Put your answer on Choose a Vehicle page.
  2. Research your favorite car, and find the purchase price.
  3. Take the total amount and put into an auto loan calculator :

https://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx

This is the amount of your monthly car payment

  1. Add your monthly car payment, insurance( listed on the Choose a Vehicle Page) and gas (listed on the Choose a Vehicle page). If the amount is higher than your car budget change your car purchase.
  2. On your budget spreadsheet (Part 1) write the sum of your car loan payment, gas, and utilities. Then in the second column subtract from your total monthly budget to see what you have left over

 

 

Keep all of your papers in your math folder