Imagine you were just offered a full-time, 40 hours per week, position with a recycling company. The rate of pay is $17.00 per hour. The recycling company will deduct a pension amount from your salary, and combined with your other deductions, you will have a total deduction amount of 30%. This means you will actually take home $11.90 per hour What will be your monthly take home amount after deductions? Based on your life goals, priorities and needs, prepare a monthly budget showing your take home pay, and your projected expenses . Analyse your budget. Did you consider savings? Do you have any left-over, discretionary savings? What changes do you think you must make in order to make your budget reflect greater savings For example, should you live with your parents or get a roommate to split expenses, or reduce an expense?
Imagine you were just offered a full-time, 40 hours per week, position with a recycling company. The rate of pay is $17.00 per hour. The recycling company will deduct a pension amount from your salary, and combined with your other deductions, you will have a total deduction amount of 30%. This means you will actually take home $11.90 per hour What will be your monthly take home amount after deductions? Based on your life goals, priorities and needs, prepare a monthly budget showing your take home pay, and your projected expenses . Analyse your budget. Did you consider savings? Do you have any left-over, discretionary savings? What changes do you think you must make in order to make your budget reflect greater savings For example, should you live with your parents or get a roommate to split expenses, or reduce an expense?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Imagine you were just offered a full-time, 40 hours per week, position with a recycling company. The rate of pay is $17.00 per hour. The recycling company will deduct a pension amount from your salary, and combined with your other deductions, you will have a total deduction amount of 30%. This means you will actually take home $11.90 per hour What will be your monthly take home amount after deductions? Based on your life goals, priorities and needs, prepare a monthly budget showing your take home pay, and your projected expenses . Analyse your budget. Did you consider savings? Do you have any left-over, discretionary savings? What changes do you think you must make in order to make your budget reflect greater savings For example, should you live with your parents or get a roommate to split expenses, or reduce an expense?
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