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How much money will I need to live?

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Presentation on theme: "How much money will I need to live?"— Presentation transcript:

1 How much money will I need to live?
My Budget Profile How much money will I need to live?

2 Housing Pick one option and write the amount next to housing in your budget profile

3 Transportation Pick one option and write the amount next to transportation in your budget profile

4 Clothing Pick one option and write the amount next to clothing in your budget profile

5 Food Pick one option and write the amount next to food in your budget profile

6 Personal Care Pick one option and write the amount next to Personal Care in your budget profile

7 Entertainment Pick one option and write the amount next to entertainment in your budget profile

8 Child Care Pick one option and write the amount next to Child Care (cost of taking care of your children when you are at work) in your budget profile No children: $0/month Low Cost Child Care: $500/month Middle Cost Child Care: $680/month High Cost Child Care: $740/month

9 Health Care Pick one option and write the amount next to health care (insurance for illnesses) in your budget profile

10 Utilities Pick the options you will need to live comfortably and write the amounts next to utilities in your budget profile

11 Savings Pick one option and write the amount next to savings in your budget profile
Option 1: $50 a month Option 2: $100 a month Option 3: $150 a month

12 Training Certificate:
Student Loans Look at the worksheet for the career you are most interested in. Select the option you need for the career you desire and write the amount next to student loans in your budget profile High School only: $0 debt Technical School Training Certificate: $50 debt Community College Associate Degree $95 debt Graduate Degree Masters $375 debt Doctoral $415 Professional $800 University Bachelors Degree $265 debt

13 Communications Pick the options you will need to live comfortably and write the amounts next to communications in your budget profile

14 Total Monthly Expenses
Add all monthly amounts to compute Expense Subtotal

15 Calculating Total Expenses for the Year
Take the total expenses and divide by .8 Example: $4,000/.8 = $5,000 (this is the amount you will need each month, including income taxes) Multiply by 12 to calculate total expenses for the year Example: $5,000*12=$60,000

16 What Careers Support Your Lifestyle?
Log in to careercruising.com Select Careers Find careers that interest you Select the Earnings link Select the entry wage Find 3 careers that interest you Complete the analysis to calculate which careers will pay the bills! Hand in your budget worksheet to Ms. Lane


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