Kellys Assignment

1
Kellys Assignment

• For all three characters, work out their income
  and outgoings on a budget planner.
• Once you have looked at the 3 character profiles
  and created their budgets decide which character
  you can relate to work on their assignment
  questions about their situation. You will be
  able to come up with some solutions for your
  character.
• The solutions you have decided upon should lead
  you to be able to set a spending limit that they
  must stick to. Work out what is essential
  spending and see how much is left. Decide how
  they could use the money they have saved.
• Kellys profile
• Kelly is 19. She has dyslexia so she finds it
  very hard to remember things, like paying bills.
  Last year she moved away from home to go to
  university. She has to pay for food, books, any
  clubs she has joined and, of course, bills
  including rent. One of the students in the house
  moved out, making bills more expensive for the
  rest. The landlord is threatening to evict them
  if they do not pay all the rent. Kelly has only
  got halfway through the term and has already run
  out of money.
• To keep in touch with family her mobile phone
  bill is 60 per month and some nights have been
  spent drowning her sorrows. She doesnt have a
  lot of time to get a job as her engineering
  course means she spends every weekday in lectures
  or practical sessions. Her bank allows her to be
  1,000 overdrawn but she is now 900 in debt and
  wont get any more money from her student loan
  until next term.
• The end of term, and the chance of a holiday job,
  is over a month away. Kelly is just ignoring the
  problem and hoping it will sort itself out in
  time.

2
Kellys Assignment
3
Kellys Assignment

• Kelly is paying 240 a month rent because one
  student has left the house. Each of the 5
  students left in the house are paying the same
  amount to cover the lost rent. How much would
  she save each month if they got someone else to
  move in? 40 instead of paying 240, she would
  pay 200
• A mobile phone bill is a debt. How many minutes
  of calls is Kelly getting for her 60 if she pays
  40p per minute for all her calls on her pay as
  you go phone? 60 / 0.40 150 minutes
• If Kelly had a monthly contract she would get
  free minutes and free texts as part of that
  contract. There are lots of promotional offers
  that could give her a few months of free line
  rental. A 25 contract could give Kelly 125 free
  minutes of calls and 100 free texts. Any
  additional calls would cost 20p. Work out if this
  would be cheaper for her than her existing
  system. Yes. Even if she did not use the texts,
  her additional calls to make up the 150 minutes
  would cost her 5.00 so her monthly bill would be
  30 after all promotions ended.
• Look at Kellys bills and her spending. Decide
  what are the priority bills these are the bills
  that must be paid or there will be a consequence
  (e.g. eviction, supply cut off, court action).
  Rent, utilities and food.
• See if you can find out how much interest a
  student has to pay on his/her loan. They pay the
  rate of inflation, currently around 3 so that
  they pay back what the money is worth in real
  terms.
• See if you can find out how much someone needs to
  earn before they have to pay back their student
  loan. 15,000