Dragons DEN
GDP: Gross Domestic Product, the total $ made in a country
PPP: Purchasing Power parity. The amount of money something costs adjusted for GDP and exchange rates.
Big Mac PPP worldwide. LINK
Where are Big Macs relatively cheap? Expensive? Why?
Today we are going to talk about budgeting. We will focus on personal budgets and move onto business budgets later in the course.
GDP: Gross Domestic Product, the total $ made in a country
PPP: Purchasing Power parity. The amount of money something costs adjusted for GDP and exchange rates.
Big Mac PPP worldwide. LINK
Where are Big Macs relatively cheap? Expensive? Why?
Today we are going to talk about budgeting. We will focus on personal budgets and move onto business budgets later in the course.
Fixed income/expense
Variable income/expense
Simple interest
Compound interest
Credit Rating
Interest Rate
Principle vs interest payments
Your assignment:
1.
You are now 19 years old. You are going to move out on your own.
You are to create a REALISTIC monthly budget for yourself at 19. You
need to pick a job (realistic), how much you will make and how much you
will spend. To find out how much rent is, go onto Craigslist or some
other site to find something appropriate. You may have a roommate if
you wish. Make sure you think of all things you will spend $ on: food,
clothes, going out, presents, entertainment, medicine, insurance etc.
Use this LINK and then cut and past in into your Word document when you finish as question 1.
2. Do you make enough money to live comfortably? Why or why not?
3. How much would you be able to save a month?
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