Transportation is an essential element of being an American citizen. The U.S. has basically evolved around the highway the last 50-75 years, and it's inescapable that one needs to navigate those streets in order to be a productive member of society. Your task here is threefold: you need to determine how you are going to transport yourself. Car? Motorcycle? Bus? Please accurately reflect what you will do as an adult. If you honestly feel as though you will not own a personal vehicle, t hen so be it and we'll price a bus pass/light rail pass. If, however, you are one who appreciates a personal vehicle and has every intention of owning one post-college, then it needs to be accounted for. You will need to find an actual available right now vehicle to purchase (that is affordable; you should have already done this). Then you need to figure what it would cost you to own this vehicle and pay for it in a loan from a bank, a loan that covers 5 years, at a routine interest rate. We will have discussed the formula to figure what your loan payment would be before you complete this task. It will then be entered into your budget. To wit:
1) Find an available vehicle.
2) Determine the loan payment per month
3) Enter it into your budget.
Further, there are costs associated with owning a vehicle. Gasoline, repairs, routine maintenance, and registration just to name a few. All of these need to be accounted for, but we'll attack these on a case-by-case basis.
This task is considered complete when you have shown me the budgeted costs for transportation entered into your official budget sheet. I have to visually approve this for the points!
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