This week we continued with Module 2 in our Finance Unit, which involves finding a place to live and a mode of transportation. By Monday, October 5 this unit should be done and students were sent home with their booklets in order to work on them over the four days between our class meetings.
For housing, students are welcome to search the websites below, keeping in mind that they can have roommates in order to make their living expenses more affordable as long as they have one bedroom per person and one toilet per two people (all working adults - not family situations!).
Whitehorse Housing Websites:
- Kijiji
- Hartling Rentals
- Prop2Go
For transportation, students need to find a mode of transportation that allows them to reliably get from home to work. Ultimately this may mean a bus pass, but we started with looking at costs associated with vehicle ownership (insurance, maintenance, gas, plus of course loan payments). Students calculated their one-time down payment (25% of one month's net income), figured out how much of a loan they needed, and then used a Personal Loan Calculator (personal loans can usually be smaller than car loans) to figure out their monthly loan payments. We discussed the benefits of having larger monthly payments and having a shorter term loan so that they pay less in interest, but also that they may not have enough in their budget for that!
*On Monday, October 5 we will be beginning Module 3, however this can be started even if previous assignments aren't yet quite finished. :)
For housing, students are welcome to search the websites below, keeping in mind that they can have roommates in order to make their living expenses more affordable as long as they have one bedroom per person and one toilet per two people (all working adults - not family situations!).
Whitehorse Housing Websites:
- Kijiji
- Hartling Rentals
- Prop2Go
For transportation, students need to find a mode of transportation that allows them to reliably get from home to work. Ultimately this may mean a bus pass, but we started with looking at costs associated with vehicle ownership (insurance, maintenance, gas, plus of course loan payments). Students calculated their one-time down payment (25% of one month's net income), figured out how much of a loan they needed, and then used a Personal Loan Calculator (personal loans can usually be smaller than car loans) to figure out their monthly loan payments. We discussed the benefits of having larger monthly payments and having a shorter term loan so that they pay less in interest, but also that they may not have enough in their budget for that!
*On Monday, October 5 we will be beginning Module 3, however this can be started even if previous assignments aren't yet quite finished. :)
Finance Project: Booklet 2 (PDF) |
Finance Project: Booklet 2 (Word) |