1. MY PROJECTED LIFESTYLE Melanie Jones

2. Aspiring Career Field  Preschool Teacher  Potential Employer  Memphis City Schools

3. Melanie’s Profile  First Year Teacher with a Bachelors Degree  Single  One allowance  Paid semi-monthly  Annual Salary: $45,741  Monthly Salary: $3,811.75

4. Melanie’s Deductions  Monthly Gross Pay: $3,811.75  Deductions:  Federal Income Tax: $512.00  Social Security: $236.33  Medicare: $55.27  Health/Dental/Life Insurance: $90.00  Retirement: $190.59  Total Deductions: $1,084.19  Monthly Net Pay: $3,811.75 - 1,084.19 = $2,727.56

5. Melanie’s Part-time Job  Monthly Net Pay with Memphis City Schools  $2,727.56  Monthly Stipend from Part-time Job:  $400

6. $3,127.56

7. $312.76

8. The Bristol on Union  205 Pasadena Pl Memphis, TN 38104  One Bedroom, One Bath  890 sq ft  $890.00  Amenities  Utilities include water  Washer/Dryer Hookup  Microwave  Dishwasher  Spacious Closet(s)  Dining Area  Separate Kitchen  Cable-Ready  Sunroom  Central air-conditioning

9. Utilities  $200.00 est.

10. Car Payment  2011 Nissan Altima 3.5 SR  Silver Exterior  Black, leather interior  32 MPG  $24,740  Est. Monthly Payments  592.43

11. Car Insurance  $79

12. Renters’ Insurance  $25

13. CONTINUE ADDING SLIDES FOR ALL EXPENSES…FIXED AND VARIABLE BE CREATIVE WITH PICTURES AND INFORMATION INCLUDE COST OF EACH EXPENSE…BE SPECIFIC ABOUT AMOUNT OF EXPENSE

14. Budget Balance Total Income $3,127.56 Total Expenses - 3,048.76 Cash Surplus $ 78.80 Allocation of Surplus: Savings $ 50.00 Pocket change 28.00 Coin savings - 0.80 BALANCE $ 0.00

15. Resources  Google search or go www.bls.gov/oco to research for earnings you could possibly make in your aspiring career field  To figure Federal Income Tax withholding, see tax table:  www.schoolrack.com/carverbusinessteacher  Click on “files”  Open “Tax Withholding Table” file  Tax tables begin on page 38 (be sure you use the appropriate tax table)  Use appropriate percentages for…  Social Security  Medicare  Retirement 5%  Apartment (www.apartments.com)  Utilities $200.00  Car payment (www.bankrate.com)  Insurance (Progressive, Geico, All State, State Farm, etc.)  Renters Insurance $25.00  Telephone (AT&T, Verizon, Cricket, T-Mobile, etc.)  Cable (Comcast, Direct TV, etc.)