Term 2: Week 5-6

Budget Research Task

You are to research the costs of living for an average family in Tāmaki Makaurau.

You will keep a detailed record of all of the expenses that you need to pay on a google doc or slideshow. For example, a description of the house that you choose to rent ( location, no. of bedrooms, bathrooms etc).

The actual cost of these expenses are to be recorded on the spreadsheet provided to calculate your overall budget.
Essential Expenses
Use the doc on our google classroom page to research these costs. There are links to electricity, internet providers etc to help you calculate your costs.
Non Essential Expenses
You are to decide what non-essential expenses you should include in your budget. Think about things like:

• Eating out
• Personal care (Hair cuts etc)
• Subscriptions or memberships (Gym, Sky TV, Netflix etc)
• Entertainment (Movies, gaming,, going outetc)
• Clothing

Income
You are to compare different incomes to your budget.
1. Minimum wage: Review what it would be like to live on a minimum wage by subtracting your total costs to calculate your surplus or deficit.
2. Choose 2 careers you might be interested in pursuing when you leave school. Record what it takes to have this career (studies, experiences etc) and the salary you could possibly earn.

How much money do you have as a surplus?