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03-05 task.docx - 3.05 Putting Yourself in Their Shoes...

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3.05 Putting Yourself in Their Shoes Imagine that you’re a single parent with two children. You must create a budget based on your minimum wage job and considering your children you have to support. This activity will help you to better understand families living below the poverty line. Scenario:You are a single parent with two children. You children are ages 2 and 4 years old. You work full-time, 9am-5pm, 365 days a year.You never have a single day off! Step 1:What is minimum wage per hour for the state of Alabama? )
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Step 2: Based on the information that you received in the scenario above, determine your yearly salary earning the minimum wage.
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Step 3:Create an expense budget for the month.Remember, you only have the amount in the line above to spend each month.
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Unformatted text preview:You must include the following items (including anything else you can think of). Your expenditures should be realistic!!! For example, your rent is NOT going to be $20 per month. Use the internet to help you determine realistic amounts if you're unable to do this on your own. ItemMonthly CostRent/House Payment $ 300 Utilities (gas, electric, water, trash, cable) $ 160 Clothing (you and your kids) $ 150 Daycare $ 250 Transportation $ 80Car Insurance $ 100 Gas $ 160 Healthcare $ 150 Diapers $ 100 Entertainment $ 50Telephone $ 50Groceries $ 120 Total Monthly Expenses $ 1670Step 4: Do you have any money left over? Yes, just a little bit.If so, what should this money probably be spent on? More groceries, diapers, or utilities (pay a month or two in advance) Are there any ways that you could re-budget to save money? Yes, of course. I could always spend less on clothes each month.