Consumer Prices and Buying

Consumer Prices and Buying

Congratulations! You have graduated college and are ready to enter the work force. http://www.slate.com/blogs/moneybox/2014/05/08/unemployment_and_the_class_of_2014_how_bad_is_the_job_market_for_new_college.html

• You picked major wisely, meaning your job is related to your education. Now it’s time to move out on your own and find a place to live and get some wheels.

Young Professional

• Find the average salary of an entry-level position in your vocation.• Choice a place to live. If your vocation is generally focused in one

region, pick a city in that region. (work driven or location driven).• List 5 factors of your decision.

• Find some wheels.• List 5 factors of your decision.

How much is your Take Home?

• Salary • http://www.bls.gov/ooh/• http://monster.salary.com/SalaryWizard/LayoutScripts/Swzl_NewSearch.aspx

• FED INCOME TAX WITHHOLDING• http://www.irs.gov/pub/irs-pdf/p15.pdf

• FICA• FICA MED• STATE INCOME TAX • http://

www.sctax.org/NR/rdonlyres/7A0D4072-46E0-439E-9C15-749710C47038/0/WH1603_04192013.pdf

Say AHHHH (Health Insurance)

• http://www.ncsl.org/research/health/health-insurance-premiums.aspx

• http://www.webmd.com/health-insurance/insurance-costs/insurance-cost-calculator

Where are you living (in the year 2020….)• Find a zip code for the city/town• Is there good public transportation?• Do you need a car?• Do you have car insurance?

How much is that Widget in the Window….

Cost Recovery Pricing (R&D)Cost-plus (+ markup)Value-Based (Highest possible)Market-Based (competitive pricing)