In this project, we will discover what it cost to live in metro Vancouver and how to manage your finances. We will assume that your wonderful parents have paid for your post-education of your choice and that you have zero debt. (Most students will have 10000 to 25000 dollars in student loan debt) This project is designed to be open-ended, meaning the more details you choose to put in, the better your grade will be.

Part I: Investment options

Find and briefly describe a type of investment option you can use for the following types of investments. You would need at least one actual example from financial institutions for each type of investment.

1. Short-term investments (3 months 2 years)

2. Medium-term investments (2 years 6 years)

3. Long-term Investments (10+)

Part II: Rent or buy?

You want to live in Langley for the next 10 years. Should you buy or rent?

1. Find a property listing from Zolo.ca or any real-estate test

2. Find a similar property that is for rent at Rental.ca or any type of renting websites

You will decide whether you should buy or rent. Think about the cost of owning a house and the opportunity cost of buying a house. For example, if your mortgage payment is higher than the rent, then renters could potentially invest the difference and the down payment they didnt have to pay. There are quite a few parameters to consider, the more detailed you can get the better.

Part III: Budgeting

1. Research your yearly salary in the job of your choice

2. Research the monthly expenses you might expect

3. Create a savings goal (this could be a down payment for a place to live)

4. Use one of the investment options in Part I and calculate how long you will be able to reach that goal. If it is too long, how can you adjust your lifestyle?