Navigate the Income Investigation (Linear Format)

Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Rubric

Modified template option- by invite only. Copy and paste the modified template into THIS DOC.

Income Investigation Day 1: Determine how an informational text builds important ideas between
paragraphs.
Task:
Read the Forbes article: Forbes: Why Your First Job Post College Matters More Than you Know. In the
box below note the most important idea of each of the first 6 paragraphs.

Challenge option: Read the dense single paragraph abstract linked below. Put the idea developed by each
SENTENCE in own words.
https://bpspsychub.onlinelibrary.wiley.com/doi/abs/10.1111/j.2044-8325.1988.tb00284.x

paragraph 1:College graduates are under pressure and they can't find jobs fast after coming out of college
paragraph 2: it is all about a job
paragraph 3 earlier work experience during school, and it talks about the profession an adult had
Your Career Legacy Starts Here
paragraph 4:How hard it is to get jobs And not having connection

OR complete Challenge option

1.
2.
3.
4.
5.
6.
Look at your work above: How does the author build ideas up between paragraphs? (**note: the challenge

Exploration 1:

1.Think of your future. Choose a job that you would like to have and a city you would like to live in. You
must choose a job you would have after college – but not with a professional degree (lawyer, doctor). Only
5-10% of people get a master’s degree or higher before they are 25.
The future job that I would like to have would be a realtor/Real estate agent/Firm.The
City I would choose to live in would be Austin Texas.

Research how much it would cost to support yourself in a city of your choice for one month.
2. Find out how much money you would make for your chosen job in your chosen city.
● You will find the most accurate numbers by googling starting pay for a specific job in your chosen
city. Google specific employers in the city to see if they post their salary scales.
 ● You can get the average salary for most job’s here. Keep in mind this will be higher than most
starting pay. http://www.indeed.com/salary or
https://www.glassdoor.com/Salaries/entry-level-salary-SRCH_KO0,11.htm

Rent in Austin Texas for one bedroom would be $1,554 Per month Then Additional cost
Like electricity bill would be Around 177 .

A real estate agent in Austin Texas would have An average based salary of $105,169
That information I got from indeed.com But when I go on Google and search up the same
thing it says the base salary for A realtor In Austin Texas would be$85,039 per year

Then the average base salary in Bethesda for a realtor would be 103.495 I'm surprised
that it's not higher Because I would think that the real estate in Bethesda would be better
But I got this number from indeed.On Google it says A realtor in Bethesda would make
an average base salary of 89,586 Which is higher compared to the Google search for
Austin Texas.

3. Subtract 28% of your total salary for taxes. 85,039

The Math:
Salary x .28 = 28% of your salary. 23,810.92
So you only get to take home .72 or 72% of your salary. 61,228.08

Math: Multiply your annual salary x.72 to get your take home salary for the year.

61,228.08
4. Divide your new total salary (post tax) by 12 to get how much you can spend a month.
Monthly Spending Budget: $5,102.34
 INCOME INVESTIGATION DAY 2: Track how ideas are organized in sections and how sections to build
up to a main idea.

Task 2:
Read How Student Loan Debt became a 1.6 Trillion dollar crisis
As you read, determine what information is most important for each section . Sections are marked below.

Challenge Option: Read the NIH research article below. As you read, determine what information is
important for the sections 1. Introduction 2. Limits in the Current state of the Conversation 3. Solutions for
Broadening the Conversation beyond Rising Tuition costs (stop 4 paragraphs in). Complete the work in the
box below. You will need to replace the headers below with these headers.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5607711/

Introductory paragraphs (no header)

● The introduction emphasizes how the growth Of the student loan debt has gradually increased
and it also States how the debt impacts Americans in a bad way.It also States how it will be
difficult to repay loans Due to Rising tuition costs. Which has reached over 1.3 trillion
The History of Student debt. SKIP reading and analyzing THIS SECTION
●

The Intersectional Impacts of Student Debt.

● particularly women of color, tend to carry larger student debt loads than their male counterparts.
They also face slower rates of repayment, which exacerbates the wealth gap.

How Students are Impacted.

● Students Are impacted in the obvious ways of having to pay every month for student loan
● Many Students feel Overwhelmed By their financial decisions In the amount of money that they
would have to pay to finish their debt .

STOP READING AT THE END OF THIS SECTION

Describe: How does the author use sections in the article above to organize their points? (This question
applies to either article.)
The author organizes the article using different sections to break down the topic of student debt. Each section
focuses on a different part of the issue, making it easier to understand the full picture.

Exploration 2:

4. Student Loans:
Congratulations! You have the average amount of debt for this project: $29,927 . You will need to make
payments on this debt!
You owe: $393 dollars a month for the next ten years! You must factor paying $393 into your monthly
expenses!
$5,102.34 - $393 = $4,709.34 remaining for other expenses each month. I don't get this question am I
supposed to get it from my monthly expense Or with The 29,927
5. Health Care:
Research health insurance coverage off of a public insurance exchange (your parents are kicking you off their
policy)

Premium
$358.71/month

Source:https://www.healthcare.gov/see-plans/#/plan/results
INCOME INVESTIGATION DAY 3: Describe the evolution of ideas as a text supports the main idea.

Task 3: Housing!
Your purpose for reading is to understand the author’s main idea in Step 1-3.
Use the first three STEPS of this guide to consider aspects of renting
STEP 1:What you can afford
STEP 2:Preparing to rent
STEP 3:Finding the right rental home
https://myhome.freddiemac.com/renting/what-can-you-afford
Answer the following questions for each section
STEP 1: What you can afford
● List the possible costs you should consider with each rental:
● Car
● Townhouse
● Phone
● Internet

STEP 2: Preparing to rent

● What steps are suggested before you view properties?
● As a realtor, I would know the steps
● First I would find a good place
● Then I would make sure that my credit score Is at a green light to buy a house Or Atownhouse
● Check Your Credit Make sure your credit score is in good shape, as it may affect rental
applications.
● Gather Documents Have pay stubs, ID, and references ready for applications.

STEP 3: Finding the right rental home

● What type of home and location would best work for your situation?
● renting an apartment with a roommate
● An apartment which we split and have with you around 750

Optional Step 4: CHALLENGE: Formatting / Non-print elements and importance

● How does the physical layout of text, images and headings on the page indicate what is
important?
○ Describe one specific place where the layout (physical position) of text or images
indicates importance. Explain HOW this formatting choice shows importance.

○ Describe one image (picture or other visual) that adds to the meaning of the text.
Explain HOW this formatting choice shows importance.
A main idea is the central point an author wants to communicate to a reader through all elements of the text.
In a single sentence describe the main idea developed by the Freddie Mac text:

List the two strongest details from the text that support this main idea:

Exploration 3:

● Use https://www.apartments.com/,
https://www.zillow.com/homes/for_rent/ or Craigslist and google
searches of local businesses to create a budget for the items below.

Use that city’s rental listings to find how much a one bedroom or studio apartment would cost per month. IF
you find a 2 or 3 bedroom apartment you can split the cost by the number of bedrooms in the apartment. (Find
a listing with pictures. Everyone who rents will tell you the listings without pictures are sketchy).

In Austin Texas one-bedroom apartment would be 1,548

Just by the look of it this kind of looks expensive I wouldn't imagine a one bedroom
apartment in Austin Texas would cost that much .But once again when I split it With a
roommate specifically this apartment it cost around 774 This could be the same for two
bedroom but It wouldn't be as spacious as to one thing

Consider other expenses involved with moving:

Does your rental have an application fee? no fee The price just gradually increases The
longer you stay.

Is there a move-in-fee? No moving fees,The moving part is all figured out by you

What is the security deposit that you’ll need to pay before moving in? (It is usually
equivalent to one months rent. There WILL BE a security deposit.)
Security deposit would be 1,200 Somewhat equivalent To the rent.

How will you get to work and get around from your new housing?
Cost of a new or used car or car payment ( cars.com / carmax.com /craigslist / dealership)
I'll get to work by Purchasing a motorcycle .I believe that Motorcycles convenient in the
future because of the low cost of fuel and the low maintenance .
In the a

Cost of gas per month (estimate 20 gallons of gas a week or 80 gallons a month). Google
the current price of a gallon of gas in your choice location and multiply times 80 to get gas
expenses per month.
OR
Cost of public transportation per month (find the city’s public transport website)

Sources:w
Cost of a new or used car or car payment ( cars.com / carmax.com /craigslist /
dealership) I'll get to work by Purchasing a motorcycle .I believe that Motorcycles
convenient in the future because of the low cost of fuel and the low maintenance .
In the a

2023 Toyota Prius LE

$26,998*

Cost of gas per month (estimate 20 gallons of gas a week or 80 gallons a month).
Google 57 mpg for the 2023 Toyota Prius LE = 500 miles on a full tank
the current price of a gallon of gas in your choice location and multiply times 80 to get
gas expenses per month. 2.53x80=202
OR
Cost of public transportation per month (find the city’s public transport website)
Sources: https://ctrideguide.com/blog/motorcycle-tips/comparing-gas-mileage/

Income Investigation Day 4: Select important ideas from a text to write a brief,
objective summary.
Task 4:
Read the following article taking notes on key points in this box
https://www.nerdwallet.com/article/finance/how-to-budget
Non-print text Challenge option: **complete the activity using the
NerdWallet video at the bottom of the
article. Watch the following video in the place of the article. Follow the
steps above for the video.
The video is also on youtube: https://www.youtube.com/watch?v=7ckn883BbPQ&t=1s

Notes: the 50/30/20 rule.401k

In the box below write a paragraph that OBJECTIVELY summarizes the article’s main
points. Your
paragraph should be no less than 5 sentences.
· You might do this by pulling one point or idea from each paragraph and
putting them
together
· OR you might do this by reading the whole article and trying to capture the
big ideas in your
own words.
REMEMBER, to be objective, you should repeat the information and not add your own
opinion in any way.
The article shows how to make a budget in five easy steps. First, figure out how much
money you have after taxes. Then, pick a budgeting system like the 50/30/20 rule, which
splits your income into needs, wants, and savings. Next, track your spending to see
where your money goes and make changes if needed. Automate your savings to make it
easier to stick to your budget. Finally, check your budget regularly and adjust it if your
income or expenses change. The article also says it’s important to save for emergencies,
pay off debt, and plan for the future.
Exploration 4: THE BASICS
Groceries (try Instacart, another grocery delivery service or expartisan.com).
Fill up your “grocery order” with 1 week’s worth of groceries, then multiply times 4 to get
Your average grocery bill per month. You can also look up average grocery spending per
Month in your area.
*Subtract this from your monthly total!
80x4=320
5,102.34-320=4,782.34

Eating out 2 times (price local restaurants in your city). Calculate the expense of what you
Would order if you went out- and multiply times 2.
*Subtract this from your monthly total!
Cost per meal: $15
Monthly cost for eating out $15 × 2 = $30
4,782.34 - 30 = $4,752.34

Daily coffee/snack cost $4 Monthly cost: $4 × 20 = $80 Remaining Budget: $4,752.34 -

$80 = $4,672.34

Coffee or snacks (base this on your current habits. Be honest). Look up the costs. (ex. Do you
buy Starbucks every school day? If so, multiply the cost of your order x20!)
*Subtract this from your monthly total!
Daily coffee/snack cost $8 Monthly cost $8 × 20 = $160 Remaining Budget: $4,752.34 -
$160 = $4,592.34

START UP COSTS
Purchase a mattress- (and bed unless you are a mattress on the floor type) (new or used off of craigslist)

it was 1,450 but because of the 45%of 688

Choose 3 average items off of expartisan.com that you would probably have to buy over the course of the
month. Add this into your budget
o Laundry detergent, bandaids, soap, toilet paper soda, gum, etc…
*Subtract these costs from your monthly total!
3 items:
1.Laundry detergent =60-
2.Toiletry=50

3.Conditioner=10
$4,592.34
=4,472.34

Source:
Income Investigation Day 5: Interpret information given in chart or graph form. Use the given
information to draw accurate conclusions.

Task 5:
Review Table A in the official BLS spending report from 2019 (We want to consider pre-pandemic spending)
https://www.bls.gov/opub/reports/consumer-expenditures/2019/home.htm

Use Table A to answer the following:

According to Table A, what is the average spending in 2019?

The average spending in 2019 is $63,036.

According to Table A what are the top two categories people spent their money on?
Housing: $20,679
Transportation: $10,742

How much does the average consumer spend on “utilities, fuels and public services”? (Electricity, water, gas,
trash pick up, etc.) The average consumer spends $4,055 on utilities, fuels, and public services in 2019.

Use the left column of the table to find: Which spending item rose the most between 2018-2019?
Other vehicle expenses rose the most, with a 21.5% increase.

Challenge Option: Find Chart 1-5 below Table A. Read each chart. Then write a factual one sentence
statement using words to explain a piece of data from the chart.
1.
2.
3.
4.
5.

Exploration 5: BILLS

Internet (look up RCN Comcast or Verizon’s rates in that city)

In Austin Texas The rate for Verizon For a 5G plan is 50m

Source:https://www.verizon.com/sales/home/progressiveplan.html

Cell phone bill (find rates at a local provider)

40Month per line

Source:https://www.att.com/local/cell-phones/texas/austin

Electricity bill
Water bill
Gas bill (search averages for your city ex: “average [gas] bill in [Gaithersburg MD]”)
Electricity:160

Water:between $13.89

Gas :$110.58

Sources:https://texasmovingusa.com/resources/average-utility-costs-in-texas/

Entertainment (ex. going out (movies, concerts etc)/ gym membership / streaming services)
Going out:$50

Gym or other memberships:As you can see )

Streaming services:$50

Source:
Income Investigation Day 6: Describe the different types of information an author uses to build a point
(facts, opinions, expert opinions, data, studies, anecdote).

Task 6:

Open the article: Read the section “Money Working for you.” As you read, pay attention to the types of
information given. Copy and paste an example of each type of information in the box below:
https://www.investopedia.com/articles/personal-finance/031215/why-saving-money-important.asp
Fact ( "An online account can help you keep up with inflation, which tends to run around 1% to 2% per year
but has been over 3% since April 2021."):

Opinion ("Anything is better than earning 0%, though, or not having savings and going into credit card debt, which will cost you
24.74% in interest, on average, per year, as of August 2024."):

Find Data OR a Statistic:

Data (individual piece of information represented by a single number): "You might earn 4%-5% interest annually."):
Statistic ("Social Security payments are only expected to cover about 40%, on average, of your annual pre-retirement income,
according to the Social Security Administration." ):

Unsupported Claim ("If you have a high income and low expenses, you might accumulate enough to retire in 10 years."t):

Hypothetical ("Once you’ve saved three to six months’ worth of expenses in your emergency fund, you can start saving money
in a tax-advantaged retirement account.") :

Challenge option: First, define the point the author tries to make in the section “Money Work for You”.
Then, explain how each of the type of support above adds to the author’s purpose of explaining of how
“explaining how money works for you.” Some add better than others. Try to justify the author’s reason for
including them to build their point
Main point:
Fact:
Opinion:
Data/Statistic:
Unsupported claim:
Hypothetical:

Exploration 6:

ADJUSTMENTS
*If you did this right, at some point you had to adjust your spending and not buy a new car or rent your own
apartment. List one adjustment you had to make to make your budget work. Explain (I realized I could save
$800 a month if I shared an apartment with 2 roommates)

Obviously for my spending I could see that I need to lower down my spending and One
way I could do that is by starting off with two roommates and splitting The payment into
three.
Source:

SAVINGS:
Many sources recommend saving 20% of your income every month.
*What percentage of your income do you have left after expenses? (To find this number, divide your
remaining money by your total salary).1.876

*What could you change to have more money left for savings? Be specific.
I should invest into stocks/ crypto.Open A 401k To better my future

CONCLUSIONS:
Write a paragraph about what you learned. Include specific details surprised you. Be specific.
Obviously I've learned a lot from this And that one thing that stuck out the most is life can be expensive even
when you have a good job .And the only way you can come out of that is by making good decisions when it
comes to spending your money but Through this project, I learned how hard it can be to plan a budget and
manage money as an adult. I was surprised to find out that a real estate agent in Austin, Texas, makes about
$85,039 a year, but after taxes, they only take home around $61,228. Rent for a one-bedroom apartment in
Austin is very expensive, costing about $1,554 a month. I also didn’t realize how quickly other costs, like
$320 for groceries and $358.71 for health insurance, add up. On top of that, paying $393 a month for student
loans makes it even harder to save money. This project showed me how important it is to understand income
and expenses to make smart financial choices.

Grading

Description Total

All pieces are complete and correct. Work shows thought, effort and accuracy. 20
Submitted on time.

Student completes one or more CHALLENGE OPTIONS. Highlight the text of 5

the challenge options completed in yellow.

Points taken off for work that is late -2

Points taken off for a section that is left blank or poorly completed -1