Area of Study: CEE- Buying Goods; Jumpstart- Spending and Saving
Carlos, Nuno, Tyshawn, Thomas, and Amir are all obsessed with the latest new jeans on the scene at their college in Boston. These stylish jeans are from Total Vantage, which just opened two stores near Boston a few months ago. Unfortunately, the starting price for a pair of designer jeans is generally around $180, and hoodies sell for at least $150.
Carlos, Tyshawn, and Amir all have part-time jobs. Thomas’ job ended just prior to the start of the school year. He has been looking for a new part-time job since the end of the soccer season, since he thought it best not to work during the season. Nuno has no job and is not looking for one. They all share an off-campus apartment, which rents for $1,500 a month. They all have phones, for which each of them pays between $60 and $70 month. Their cable TV costs $100 a month. They also have to either buy their own groceries, order takeout, or eat out.
They all agree that these are the jeans to have, and that they would like to get a pair right away. Christmas is in seven weeks, and if they can’t get them now, they’d like to return to school after Christmas with a pair of Total Vantage jeans. Especially since they know this is a time of year when “everybody” will be wearing their new, stylish clothes.
- Carlos and Tyshawn earn about $500 a month from their work/study jobs on campus.
- Amir works off-campus at a national chain pharmacy and makes about $475 a month.
- Thomas has about $1,500 in his savings account that he earned from his summer job.
- Nuno has about $500 in his savings account. He can usually count on his mother sending him money whenever he asks. She also paid his portion of the rent for the semester and pays his monthly phone bill.
- Why does designer clothing usually command a higher price than regular clothing?
- What makes designer clothing different than regular clothing?
- Do people genuinely know if clothes are the latest design?
- You saw a designer T-shirt for $60. Where can you go to get a similar that designer-name shirt for less?
- What’s the most you’ve ever paid for an item of clothing?
- Were there any alternatives available and if so how much money could you have saved?
- Other than the bills mentioned in the quiz, what other things would the boys have to pay for?
- If Amir were to only eat pizza, how many pizzas could he afford in a month with his monthly pay?
- Use at least five of the key words listed below the article to write a paragraph starting with “Amir wanted to live a lavish life.”
- Play the CashCrunch game and list all the expenses that you must pay each month.
- Using realtor websites such as Zillow, find three apartments for rent in your area. Each apartment must have three bedrooms. Calculate what Amir, Carlos, and Thomas would each have to pay to share each apartment.
- Using other resources, calculate the best phone plan for Amir, Carlos, and Thomas.