Tuesday, December 18, 2018

'Personal Budgeting Assignment\r'

'PERSONAL BUDGETING PROJECT You argon to imagine that you ar 21 years of age and brook firm to make it on your proclaim. You earn $606 a establishweek and are looking for an flat/unit/ rest home to rent. Your parents build generously given you $2,000 to help cook up for furniture and the bond on your new residence. You ordain need to calculate your weekly re applyments and cost of briotime arrangements. Remember you push aside non blow over more than you comport and you cannot usurp money. travail ONE: As it dawned upon me that $606 was quite passing I realised that I would swallow to construe a work that would not be an excerption for my life.I was lucky enough to find a job that’s interesting as a hairstylist in Melbourne City. The qualifications needed are experience and dependableness; fortunately both of which I already posses. I earn the exact minimum wage of $31,512 per year. labor movement TWO, TASK THREE & TASK seven: When searching for an abode, with my new-found job wage burning by in my back pocket, I again contemplated the obvious. It wasn’t much! As I searched and searched I came across a god-send in disguise as an apartment. At just $60 per week it barely scraped remote at my weekly wage, leaving me aft(prenominal) paid the initial bond and $546 for the weeks afterwards.With the extremely cheap set I was blown a charge when I dictuming machine that it was in the same suburb (Melbourne) as my antecedently stated job- could this 1 bedroom, 1 bathroom apartment find any better? Apparently it could. As I looked up pictures of my abode I saw it was really modern looking; with sleek, homely wooden floorboards, white painted walls and skirtings and stainless(prenominal) steel taps. each of these traits contribute to why I chose to ‘move in to’ apartment number 15; 22-24 Jane Bell Lane, Melbourne. http://www. realestate. com. au/rent/between-50-100-in-melbourne/list-1? source=location-se arch TASK FOUR: at that place are many things to keep in reason when undertake a property, especially if you are renting at the same time. 1. Lease Agreements: Are listed in contract signed by both parties, they are monetary value of agreements. 2. Time Period: The time head of which the dwell signs the lease stating how long they will be occupying the property for. Either party can discharge the lease if they mother a suitable reason. 3. rightfield of Entry: The landlord is given permission to enter the exposit during normal business hours regarding maintenance issues. How ever the renter should know 24 hours beforehand. 4.Rent: The tenant must pay up the add up listed on the lease agreement. 5. Pets, Maintenance and secretion: When leasing the land lord is legally not allowed to extinguish someone on the basis of age, gender or sexual orientation. There may be caress policies either allowing or not allowing. 6. Insurance: The tenant is responsible in deterrent exampl e of fire, theft and flood lamp insurance withal the landlord is responsible for insurance of the tenants belongings. TASK FIVE: PICTURE| DETAILS| WHERE PURCHASED| WHY I BOUGHT IT| | | GUMTREE| To store my books and other trinket items in. | | | GUMTREE| To store my vesture and put my telly on. | | GUMTREE| To sit on date I’m at the desk. To do my work at. | | | GUMTREE| To put things on in the lounge room. | | | GUMTREE| To quietude on. | | | GUMTREE| To cook feed in. | | | GUMTREE| To sit on in the lounge room. | | | GUMTREE| To sit and eat at. | | | GUMTREE| To watch television on. | | | GUMTREE| To wash my cloths in. | TASK SIX: item| toll and why I need it| | To cook booze| | To cook toast| | To blend| | To beat food| | | | Price- $35. 45To clean. | | To clean. | | To clean. | TASK EIGHT: UTILITIES| SUMMER| AUTUMN| wintertime| SPRING| thoroughgoing| WEEKLY COST| feature WEEKLY COST| ELECTRICTY| $181| $174| $180| $172| $707| $13. 9| $47. 06| wet| $150| $138| $ 164| $270| $722| $13. 88| GAS| $122| $150| $251| $172| $659| $12. 67| PHONE| $90| $90| $90| $90| $360| $6. 92| Bills are a part of life in the adult world; ein truthbody gets and needs to pay them. After paying my rent and then my improvement bills, each week I am left over(p) with $498. 94 for other everyday expenses such as food and transport. I am left, start of the tot $31,512 a year, $25,944. 88. INCOME ($606) †RENT ($60) †UTILITIES ($47. 06) = $498. 94 TASK ix: When travelling to work most people lend oneself some form of transportation.Walking or riding a bike isn’t always let; after victorious into consideration the pros and cons of owning a car and taking unexclusive transport, I have opted to mathematical function public transport to get to and fro. A car is very expensive as you have to pay petrol, insurance, adjustment and maintenance! Taking into consideration the fact that I live in the inner city, traffic at peak hours (the times I would mo st probably be on the road heading to or from work) would be ghastly! Not to mention parking. The less costly alternative of travelling trams and trains allows me to always be on the go, with no traffic!The general determine is listed in the below table, though I would spend $32. 80 on weekdays and if I go out on both days on the spend $6. 60 (total of $39. 40) Public transport is similarly very eco-friendly. INCOME ($606) †RENT ($60) †UTILITIES ($47. 06) †reassign ($39. 40) = $459. 54 TRIP| FARES| day-after-day Zone 1+2 Full exercise (weekday)| $6. 56| Daily Zone 1+2 Full Fare (weekend)| $3. 30| TASK go: FOOD & PRICE| QUANTITY| TOTAL COST| | 1| | | 3| | 1| | 3| | 1| | 1| | 1| | 1| | 1| | 500g| | 6| | 1| | 3| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| 1| | 2| | 4| | 4| | 5| | 5| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1 | | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| | 1| INCOME ($606) †RENT ($60) †UTILITIES ($47. 06) †TRANSPORT ($39. 40) â€SHOPPING ($221. 61) = $237. 93 TASK ELEVEN: I am finally free to live the way I please and do the things I bid! Out of the $2,000 given to me from my loving, caring parents I have $1,225 much money left and I am choosing to save it so I can go on holidays in the future, or in case of an emergency. Out f my weekly wage after paying everything I need to I have $237. 3 left, which I am also saving. I believe it will be good for me to have that money left over in the bank, it also proves to my parents or any other people whom have doubts of young people making it on their own! TASK TWELVE: The real world can be a delicate, gruelling place- especially if you go at it on your own! In this cypher review I will talk virtually what I expected, how I mad our decisions, problems and difficulties, things I have learned, influencial c hanges and some advice to those first out. This project has given me a right taste of that world, and let me tell you it was not what I expected.I always thought it wasn’t that challenging to find a job or a house- but it sure is. After hours of looking I found my job and house, both in the appropriate area. It was hard finding food and understanding the terms of leasing a property but I managed to get through it all. I did not expect that I would have budgeted so well though! The amount of money I have left ball over me to the core as I am commonly I am an extremely rapid spender, yet this project has taught me that you can’t go expending all your money on silly weeny things and that money doesn’t grow on trees.Those education curves influenced my decisions throughout the project greatly. If I were to give advice to anyone starting out, I would let them know that yes it is a hard place; but once you’ve got it all choose you feel so proud. Donâ₠¬â„¢t ever give up! Also, buy stuff from gumtree. com. au- colossal bargains! I am so looking away to moving out of home an putting to use the lessons I have learned in the previous(prenominal) weeks.\r\n'

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