Moving Out on Your Own

(Modified from http://www.selfgrowth.com)

Read the article then follow the instructions at the end:

As we move through your last year of high school, many of you are thinking about moving out on your own.  Moving out for the first time is one of the biggest steps you’ll take in life. It not only represents your freedom, independence and a sense of growing up, it also tests your ability to make it on your own.

Since most of us will be renting our first place, we will begin there. There are usually two ways to go. You can rent month-to-month, which means you are able to move out whenever you want, but it also means the landlord can kick you out or raise your rent almost at will. The other way to go is a lease. The lease locks you into a predetermined number of months. For most apartments and condos, a one-year lease is standard. Landlords will usually charge you less if you sign a lease with them. Keep in mind that if you sign a one-year-lease and decide to move out after two months, you’re still on the hook for the additional ten months. Make sure you really like living under that roof and plan to stay there for the lease period or you may want to stick with a month-to-month.

Whenever you rent an apartment or a house, there will always be a deposit required. This deposit will vary based on:

1. The amount of the rent.
2. Your credit score.
3. Are you signing a lease or renting month-to-month?
4. Is the landlord buying a new car that month?
5. Do you have a pet?

You can usually expect to pay first month plus a security deposit equal to first month’s rent. If you are renting an apartment or condo, many times there is a reduction or special deal offered by the complex. For example, you may be able to pay first month’s rent plus a small deposit of say, a few hundred dollars. If you have pets, and the landlord allows them, you will be required to pay a deposit for the pet. In some cases, the landlord may require you to pay first month’s rent plus last month’s rent and a security deposit. The important thing to remember is to find out exactly what will be required before you sign anything and what will be required in the end to get your deposit back when you move -- and get that in writing.

OK, moving day.  You’ve taken ten minutes and packed up all your worldly possessions. Mom is standing by the door weeping because her baby is now ready to fly the coop. Even though you needed them to give you 20 bucks to go out last week, you are ready to be an independent adult. Dad is also standing by the door, but he’s got a slight grin on his face. Why you ask? He is planning how to turn your room into his office or new entertainment center! But forget about that for now. You’ve found the apartment, signed the rental agreement, paid your fees and are moving in. Now what?

1. Have the phone turned on
   [unless you have your own cell phone].
2. Have all the utilities turned on
   [gas, electric, propane, water, kerosene, etc.]
3. Have cable activated if you’re using cable
   [if you even have your own television].
4. Move all your stuff in
   [which is usually a bag or two]
5. Get some furniture in that place
   [beanbags and milk crates are popular in first apartments]
6. Get some food in the fridge
   [make sure the place COMES with a fridge!]
7. Make sure you have at least a towel or two and don’t forget the toilet paper.
8. A vacuum cleaner would be nice.
9. Get hooked up for Internet access (might be part of your cable or phone service).
10. Get some plates and silverware and maybe a glass or two
    [you may get tired of paper plates and plastic silverware]

This is a fun and exciting time in your life. Sitting in your new apartment for the first time is great feeling of accomplishment for both you and your parents!

Assignment:

• Title your page "Moving Out".
• Write one paragraph about when you plan to move out on your own and describe how you expect to be able to do that.  Will you have help?  Where will you go?  If you are already out on your own, discuss how it went for you and what you have learned.
• Create a section title called "Questions:"
• Explain the following items based on your reading above:
1. When would a lease be good for you?  
2. When would a lease be bad?
3. What kinds of "deposits" might you have to pay when moving in somewhere?
4. What does the term "first and last" mean in an ad for an apartment?
5. How does having a pet affect your plans for moving out?
• Create a section title called "Must Haves".
• Create a bulleted list of items that you absolutely must have when you move out
• Think about which tools you need (hammer, screwdriver, etc.)
• Which cooking supplies (frying pan, turner, etc.)
• Which appliances (microwave, mixer, vacuum, etc.)
• What do you use every day? (towels, coffee cups, etc.)
• List other things you wouldn't want to do without (television, furniture items, etc.)

Plan Your Résumés

Targeted résumés are different than regular résumés in that they're written with the specific employer in mind.  No employer wants to hire you -- they only hire staff when they have problems to solve.  And remember that no employer wants to spend a lot of time hiring you, either.  It can take days or weeks to read résumés, call candidates, interview and hire them.  This process takes employers away from their business, which is not where they want to be.

So your résumé must quickly answer this question:  "What can you do for me?"

That's the question going through every employer's mind as he or she reads your résumé.  If you can clearly explain the good things you can do, then prove you've done them before, you'll greatly improve your chances of being called for an interview.

It's that simple.  Write what the employer wants to see.

Here's an example of my résumé from about 17 years ago.  I had office experience but had never taught.  I was applying for a variety of office positions and teaching positions.  Notice that the résumé is a bit confused -- I was listing computer and office skills instead of focusing on the teaching.

In this case I got lucky because Ukiah High School needed a Computer / Business teacher.  Even though I was only certified to teach History at the time, I got the job and worked toward my Computer and Business credentials.

Today you are going to be putting together a résumé for a specific occupation which you think you could get. Because you are young [and yes, 17 or 18 is still very young] you will probably not have the years of experience or professional skills that someone in their 20's or 30's might have, but your résumé is the tool to showcase the skills that you DO possess.

Some suggestions I have for résumés include:

• Keep it on one side of one page
• Use Font: Size 12
• Use Font: Times New Roman
• Header Fonts: You can use Arial Black, Bookma, or Albertus Medium
• Include a line at the bottom such as "References available upon request."

An objective with a job title is the best way to start your résumé.  It shows that you know exactly what job the employer is trying to fill.  Example:

Restaurant Management where more than 10 years of food service and management experience will contribute to efficient operations.

Network Administrator where three years of successful experience and training will add value.

Pharmaceutical Sales Rep where eight years of training and experience in health care and sales will add to profitability.

If you don't know the job title, you can start with a summary.  This will focus the reader on the skills you've used while giving you a bit more flexibility to apply for different jobs.  Examples:

Seeking a position where more than 12 years of sales, management and operations experience will contribute to increased efficiency.  An energetic team-player, able to motivate staff for best results.

Seeking a position as business analyst or consultant, where more than 13 years of software development and support will add value.  Proven skills in re-engineering and project management.

SAMPLE RESUME

Economics Terms Word Search Puzzle

Your assignment today is pretty simple -- complete the Economics Terms Word Search Puzzle:

Supply Changes

Think about your fictitious business from your project as you read "Economics & You: Input Costs" on page 124.

• What main resources/products (cotton, gasoline, steel, fabric, etc.) does your business rely on?
  
   For example, if you sell t-shirts, the manufacturer would need cloth -- or if you are making shoes you might need leather or rubber -- or if you are a lawn care company, you might need gasoline.
• What resources do your main products require before they get to you?  For example, to create cloth a company must have cotton -- and to have cotton they would need water and fertilizer and seeds and labor.
• What changes in costs for supplies would make you [in your specific business] charge more for your product/service?  Why?
• How might technology be used to reduce costs for your business?
• If one of your main supply necessities (i.e. cotton or gasoline) was owned by one or two companies, what might happen to the price of that resource?  Why?

Answer the following questions:

• Explain what Subsidies are (p.124) in your own words.
• Read the "Ballooning Problem" article about reduced supplies and increased demand.  
• How might government regulation change how helium is used?
• How is helium becoming a shortage instead of a scarce resource?
• Suppose the United States buys most of its bananas from a particular country.  If that country suffered a drought, what would happen to the "supply curve" for bananas?
• If regulation increases price and decreases supply, why does the government issue regulations?
• Why would an auto-maker want to have manufacturing plants in several different regions?
• Why would a software company NOT necessarily want facilities in several different regions?
• Suppose television networks raise the fees that cable television networks must pay to show their programs.  What processes or prices might change?
• Suppose that you open a shoe repair shop.  What fixed and variable costs would you have?

Videos about Helium Shortage:

AP Macro: 

Understanding Supply and Demand

BELL RINGER:  On a piece of paper, answer the following under "Bell Ringer" and then put them in the 3rd Block Bin:

1. Refresher: What is the difference between scarcity and shortage?
2. Think about your fictitious business and explain what product or service is supplied by you, and who demands that product or services.
3. What does the Latin phrase "ceteris paribus" mean?
4. Looking at the Supply & Demand graph (right), which of the lines is Supply and which is Demand?

Supply and Demand
As you would probably imagine, Supply and Demand are concepts that are the cornerstone of Economic Theory.  The entire concept of Economics is the study of how and why people choose to buy the things they do.  So much, in fact, that out of the 61 Tennessee Economics Standards, 6 of them specifically involve Supply and Demand.

• E.11 Define supply and demand, and provide relevant examples. (E)
• E.12 Describe the role of buyers and sellers in determining the equilibrium price. (E)
• E.13 Describe how prices of products as well as interest rate and wage rates send signals to buyers and sellers of products, loanable funds, and labor. (E)
• E.14 Explain that consumers ultimately determine what is produced in a market economy (consumer sovereignty). (C, E)
• E.17 Identify factors that cause changes in market supply and demand. (E)
• E.18 Demonstrate how changes in supply and demand influence equilibrium price and quantity in the product, resource, and financial markets. (E)

In addition to supply and demand, we will be working on the following standards:

• E.2 Explain how consumers and producers confront the condition of scarcity, by making choices that involve opportunity costs and tradeoffs. (E)
• E.4 Describe how people respond predictably to positive and negative incentives. (C, E)
• E.5 Explain that voluntary exchange occurs when all participating parties expect to gain. (E)
• E.23 Compare and contrast the following forms of business organization: sole proprietorship, partnership, and corporation. (E)

Watching the video clips, answer the following questions:  Demand and Supply Explained
Demand:

1. When the price goes _______ the quantity demanded goes _______.
2. A Demand Curve is a ________________ sloping curve.
3. What is the Substitution Effect?
4. What is the Income Effect?
5. What is the Law of Diminishing Marginal Utility?
6. The Demand Curve shifting left indicates a _______________ in quantity demanded.
7. The Demand Curve shifting right indicates a ______________ in quantity demanded.
8. What are the 5 Shifters of Demand:
1. Tastes/Preferences: ____________________________________.
2. Number of Consumers: ____________________________________.
3. Price of Related Goods: ____________________________________.
4. Income: ____________________________________.
5. Expectations: ____________________________________.
9. What are "substitutes"?
10. What are "complements"?

A clip demonstrating the Law of Diminishing Marginal Utility: Matilda: Bruce Bogtrotter
Supply:

1. When the price goes _________ for a product, the quantity producers make will __________.
2. A Supply Curve is a ________________ sloping curve.
3. The Supply Curve shifting left indicates a _______________ in quantity supplied.
4. The Supply Curve shifting right indicates a ______________ in quantity supplied.
5. What are the 5 Shifters of Supply:
1. Price of Resources: ____________________________________.
2. Number of Producers: ____________________________________.
3. Technology: ____________________________________.
4. Taxes & Subsidies: ____________________________________.
5. Expectations: ____________________________________.
6. What happens to supply for a product when the price increases?  ______________.
7. What is the Market Equilibrium ____________________________________.
8. What is a "Surplus"? ____________________________________.
9. What is a "Shortage"? ____________________________________.

Discussion & Short Answer:

Your Business:  
Using your virtual/fictitious business, describe how the following Shifters affect Demand in your business:

1. Tastes/Preferences: 
2. Number of Consumers: 
3. Price of Related Goods: 
4. Income: 
5. Expectations: 

Using your virtual business, describe how the following Shifters affect Supply in your business:

1. Price of Resources: 
2. Number of Producers: 
3. Technology: 
4. Taxes & Subsidies: 
5. Expectations: 

Download a worksheet here: WORKSHEET

Next we will have a short discussion and share some of the progress we are making on our Business Project and our Making a Difference project.

Business Project:

• What business have you come up with?
• Where would you locate your business?
• What is your target demographic?
• What design considerations (logo, colors, etc.) will you use?
• Will your business be a sole proprietorship, a partnership or a corporation?

Making a Difference:

• What is an idea you think would make your community better?
• What is an idea you think would make our school better?
• Did anything surprise you as you began thinking about how you could make a difference in your community or in your school?
• How might any these changes have an effect on the economics of your community?

Young Entrepreneurs & Inventors