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Family Miranda- Mom (39 years old) Tyler- Son (17 years old) Samantha- Daughter (11 years old) Tess- Daughter (7 years old)

2/20/08- Our family assembled today, Tyler, Sam, Tess, and I. I, Miranda, am the mom and I am thirty nine years old. Sam is the daughter who is eleven years old and is in love with Harry Potter. Tess is the daughter that is seven years old, and Tyler is the son that is seventeen years old. In our group the common problem was the ages. In order for me to finish college I had to be at least twenty three years old before having my first child. So my age had to be at least twenty three years older than all of my children. For fun, we decided that our last names should be Willbermann in order to have every ones name in our last name witch are Wolf, Will, Bobber, and Kunstmann. Overall I realized that putting together a pretend family isn't as easy as it seems, it's fun and exciting. Also I realized that we probably will have only two people working, myself and Tyler, and unless we have a really good jobs, I don't think that we will be able to support ourselves and the two other kids.

2/21/08- Our Family met today to discuss and find a job for me. Finding a job that was making a decent amount of money was difficult. Also one that had health care benefits were hard to come by. Our group did find a job for me, as a 6th grade mathematics teacher. Im really nervous that we will encounter problems.

Wage- A payment of money that you receive on an hourly, or daily basis. Salary- Salary is a fixed compensation of money paid to a person for work. 1040-The basic form that you file annually with the IRS. Income Tax- The main source of revenue to the federal government that is taken out of annual income. Deduction- Expenses allowed by the IRS that reduces your taxable income. Dependent- Someone you support that you claim as an exemption. Exemption- A deduction from taxable income for you, your spouse, or your qualifying dependents. Payroll Tax- A tax based on wages, tips, and salaries paid. Medicare- The federal insurance program that funds medicare for people 65 and older, also for certain people that are disabled. Social Security- Is a program of old-age, unemployment, or disability maintained by the U.S. government through payments by specific employer and employee groups. Gross pay- Net pay-

Price: $189,900.00 Property Type: Single Family County: Milwaukee Total Rooms: 10 Bedrooms: 5 Full Bathrooms: 2 Half Bathrooms: 1 Garage Size: 1.0 Garage Type: Driveway Entrance, Electric Door Opener, Paved Driveway Lot Size: Less than 1/4 School Dist.: Wauwatosa High School: East Property Taxes: $4,698.00 Property Tax Year: 2006 MLS Number: 965932 PIN Number: 56870 Hot Line: 262.814.1400 Listing Company: Shorewest - Elmbrook/Wauwatosa

3/3/07 Vehicle # 1- 2007 Ford Mustang Convertible

Automatic 4.0L Engine 6 Cylinders 2 Door 2WD EPA Mileage 18/26 240 Torque@3500rpm 210 Horsepower@53000rpm Stock # 4785742 Price: $18,998.00 Vehicle # 2- 2004 Mazda RX8 Coupe-

Automatic 1.3L Engine 2 Cylinders 2 Door 2WD EPA Mileage 18/25 159 Torque@5500rpm 238 Horsepower@8500rpm Stock # 4864846 Price: $15,998.00

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Family Journal-

DAY ONE (2/19/08)- Our family assembled today, Miranda, Sam, Tess, and I. Miranda is the mom that is 38 years old. Sam is the daughter who is 11 years old. Tess is the daughter that is 7 years old, and I am the son that is 15 years old. In our group the common problem was the ages. In order for Miranda to finish college she had to be at least 23 years old before having her first child. So Miranda's age had to be at least 23 years older than all of the children. For fun, we decided that our last names should be Willbermann. (Wolf, Will, Bobber, Kunstmann) It's a piece of every person in the groups last name. Overall I realized that putting together a pretend family isn't as easy as it seems. Also I realized that we probably will have only one person working that unless she has a really good job, I don't think that she is going to be able to support three kids.

DAY TWO (2/20/08)- Our Family met today to discuss and find a job for our mom (Miranda). Finding a job that was making a decent amount of money was difficult. Also one that had health care benefits were hard to come by. Our group did find a job for mom as a 6th grade mathematics teacher. Im really nervous about the next steps to this project cause I think that just finding a job for one person was hard enough!

DAY THREE (2/21/08)- Wow, federal taxes are a lot ! Our mom's income is $60,000 and we pay $4,868 in taxes. Also I found out that all of the equations to finding out our total tax deductions are really confusing. I feel that federal taxes should be reduced!

DAY FOUR (2/25/08)- Today our family found out our total net pay which is only around $44,421. Miranda's pay is originally $60,000 but when you factor in all of the income taxes, and 401k payments she is only making $44,421. Also we started looking for a house today. It was really difficult to find a nice house for a price that we can afford. Mr. Skonecki estimated that we could only spend a maximum payment of $1500 a month for a house. Miranda's profit per month after taxes and deductions is only $3,701.75! I thought making $60,000 annually would be a lot but once our family took into consideration the taxes and dividing the annually salary into a monthly payment is as much as we thought it would be. One working parent with three dependents isn't really anywhere near being rich.

DAY FIVE (2/27/08)- Today my mom, sisters, and I finally got to see our house in person. Its awesome! We all liked it, and we decided to buy it! Next, we figured out that we needed a new car. So also today after visiting our house, we went to a ford dealer and fell in love with a 2008 Ford Edge. Hopefully we can buy it, but probably not till tomorrow or Friday.

DAY SIX (2/28/08)- Today our family went back to the Ford dealer and found out that the Ford Edge was sold. Anyway we thought it was a little pricey. So instead we went to Carmax and found TWO cars instead!! A 2007 Ford Mustang Convertible, for $18,998 and a 2004 Mazda RX8 for $15,998.

DAY SEVEN (3/03/08)- Today our family had another incident. The ford mustang was too much, so we decided and went to buy a 2003 Dodge Ram 1500 for only $9,995. We filled in our spreadsheets with our final vehicle prices. Then we computed the auto insurance for the vehicles. We pay more insurance than both car payments! There were a lot of factors in insurance, it was very complicated.

DAY EIGHT (3/04/08)- Our family went shopping for our tv, internet, cell phone, house phone plans. Compared to what we make a month, I didn't think that those plans were a lot. I actually thought that a lot of them are reasonably priced. We chose $30 home phone plan, $59.99 cell phone plan, a $35 internet bill, and a $44.99 cable bill.

DAY NINE (3/10/08)- Today our family went shopping for most of our tolietries. At first I thought I grocery bill was all but then adding the price of the tolietries the total ended up being close to $500 a month. Hopefully we will still have enough money for clothes! LOL

DAY TEN (3/11/08)- Whoa, I believe were past being broke! We need health insurance, eyecare, vaction money, clothes, house repairs, and car repairs. Since Miranda is only making $3,701 our family is on a really tight budget and I still dont know if we will have enough money to cover! I hope so.