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Cost of Living Experiment

Cost of Living Experiment

I think this project was very realistic and easy to understand if you already have bill that you pay. Most of the simulations were things that come up every day that you have to take care of.

In my simulation job I made $55,000 a year which is a little more than most people make. Running out of money wasn’t a issue, we had more than enough to get everything we wanted, we had a nice house, brand new car and enough money left over for anything that might pop up.

The first day of our simulation there were of events that came up like your car getting recalled and you had to get a rental, your taxes went up on your house so you had to adjust you whole monthly budget. It was showing that these things can just happen and you need to have money to take care of it.

On day two you friend asks you if you want to go on a trip to New York City and you can’t pass it up and you would probably spend a couple hundred dollars to have a good time.

Not all the simulations cost you money, just like in real life. On day three of the simulation your boss gave you a two hundred-dollar bonus for working extra hard. Your neighbors that you shoveled their walk way for gave you one hundred and twenty dollars.

For simulation day four we had to decide what things are likely to happen to us could cost us money or benefit us. For example when big sales happen your going to want to have money to spend, gas prices are always going up, and if you don’t have insurance on just about every thing that you own than it could get really expensive to fix things or health reasons. You also have bills that are very easy to forget about that come around once a year like registering your cars, which can get really expensive, if you own an expensive car. I have the a house with a pool table and a swimming pool, two car garage and the all the latest amenities.

You can forget about bank service charges too, like on day five you when we had to review over our checkbook and make sure the balance is...

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Category:   Economics

Length:   2 pages (481 words)

Views:   5293

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