Cost of Living Project Instruction

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Cost of Living Project Instruction

Below are the categories you need to find average cost of living amounts for.


Job: Description & Salary (Gross Salary, Net Salary, Federal Withholding, Social Security, Medicare)
  • Look for a job/career you would like to have

  • Find out the salary information


    • By zip code

  • Location of the job


  • Using the site above figure out the Net Salary, Federal withholding information)

    • Yearly Salary and Bi-Weekly (Gross Salary, Net Salary, Federal Withholding, Social Security, Medicare)

  • If you are married, do the same for your spouse.

  • Create a breakdown of each of your information

College: Total Cost: Tuition, Dorm, Books, Degree
  • Where did you get your degree?

  • How much did it cost you?

  • Create a break down of college expenses

  • How did you pay for it?

Car: What type of car? Year? Make? Model?

  • What car would you like to drive?

  • How much it is going to cost you? Is it bought or leased?

Automobile Fuel: Regular

  • Monthly fuel expense

Automobile Insurance Cost: Company & Cost

  • Based on your car information figure out what would be the appropriate coverage and cost.

Cell Phone: Company & Monthly payment

Debt: Credit cards, loans

Average American has a debt of $10K-$15K.

  • How much are you paying monthly towards your debt?


  • Water

  • Electricity

  • Garbage and Sewer or equivalent

  • Cable TV

  • Phone Line:

  • Internet Service:

  • Find out what it would cost your and what companies they are.

  • What type of plan do you have?


  • At home

  • Dining out

  • Yearly and Monthly Cost

  • Provide a break down for each category

Housing: Mortgage or Rent Cost

-house or apartment non-furnished

-rental or owning

  • Monthly Cost

  • Find the location of home


  • Pants

  • Shirt

  • Shoes

  • Etc.

  • Provide a break down and list of things you need

Personal Items

  • Yearly & Monthly cost

  • Provide a break down of things that you will need

Vacation: Plan a vacation for one week, for a family of four.

  • Provide a cost for a family of four

    • Airfare, car rental, fees, hotel, attractions, dinner, tours, etc

  • Plan your trip, have some sort of itinerary

Other Expenses

  • Birthday gifts

  • Holiday gifts

  • Grooming

  • Childcare

  • Other

  • Savings

  • Going

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