Reality 101<br />Careers and Future Budgets<br />
Career Choices		*Underlined jobs  require more than 4-year degree<br />
Reality 101 Student Sheet<br />KEEP IN MIND THAT ALL OF THESE SITUATIONS ARE FOR EDUATIONAL PURPOSES ONLY, AND ARE NOT REA...
Income<br />Calculate your net income using the following percentages:<br />Federal Withholding Tax  	- 9% of gross<br />S...
Expenses<br />PAY YOURSELF FIRST – P.Y.F.<br />Deduct 10% of net monthly salary <br />HOUSING<br />www.classifieds.flatoda...
Expenses continued…<br />FOOD<br />$75/week per adult<br />$50/week per child<br />CLOTHING<br />$50/month per adult & chi...
Expenses continued…<br />UTILITIES – Electricity, gas, & water<br />One-bedroom apartment		$150<br />Two-bedroom apartment...
And more expenses…<br />GAS<br />$100 per month<br />AUTO INSURANCE (6-month policy)<br />Single male		$800<br />Single fe...
Last of expenses…<br />CABLE/INTERNET (optional)<br />Basic				$22<br />Standard				$63<br />Internet only			$50<br />Prem...
Time to total<br />Are you in the black or red?<br />Do you need to supplement your income?<br />If you are married only o...
Net Worth<br />Net Monthly Income = Income – Liabilities<br />Class discussion<br />
Upcoming SlideShare
Loading in …5
×

Reality 101 ppt

460 views
375 views

Published on

Published in: Career, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
460
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Reality 101 ppt

  1. 1. Reality 101<br />Careers and Future Budgets<br />
  2. 2. Career Choices *Underlined jobs require more than 4-year degree<br />
  3. 3. Reality 101 Student Sheet<br />KEEP IN MIND THAT ALL OF THESE SITUATIONS ARE FOR EDUATIONAL PURPOSES ONLY, AND ARE NOT REAL!!!<br />Complete name, job, and monthly gross salary<br />If the DAY of your birth date is even, you are single; if it is odd, you are married. Then, include your spouse’s hypothetical name, job, and monthly gross salary, if applicable.<br />Pick your children and name them, if applicable.<br />Pick a pet and name it/them, if applicable.<br />
  4. 4. Income<br />Calculate your net income using the following percentages:<br />Federal Withholding Tax - 9% of gross<br />Subtract 0.5% from the 9% <br /> for each dependent <br />FICA - 6.2% of gross<br />Medical - 1.45% of gross<br />FIND TOTAL NET INCOME<br />
  5. 5. Expenses<br />PAY YOURSELF FIRST – P.Y.F.<br />Deduct 10% of net monthly salary <br />HOUSING<br />www.classifieds.flatoday.com<br />Something to think about … first AND last month to move in?<br />STUDENT LOANS (spouses too)<br />2-year college, deduct $50/month<br />4-year college, deduct $150/month<br />Master’s degree, deduct $200/month<br />Doctorate/law degree, deduct $300/month<br />Medical degree, deduct $600/month<br />Research www.collegeview.com to decrease need for college loans.<br />
  6. 6. Expenses continued…<br />FOOD<br />$75/week per adult<br />$50/week per child<br />CLOTHING<br />$50/month per adult & child<br />CHILD CAREper week<br />Infant (6 weeks-12 mo) $150<br />Toddler (12-24 mo) $140<br />2 year old $120<br />3 to 4 year old $110<br />Before/After school $ 75<br />Family Discount - 10% off per additional child<br />
  7. 7. Expenses continued…<br />UTILITIES – Electricity, gas, & water<br />One-bedroom apartment $150<br />Two-bedroom apartment $175<br />Three-bedroom apartment $200<br />TRANSPORTATION (used-one per adult)<br />09 Hummer $500<br />08 Nissan Pathfinder $400<br />98 Infiniti $450<br />05 Toyota Corolla $420<br />02 VW Jetta $325<br />04 Dodge Quad Cab $300<br />01 Buick LeSabre $250<br />
  8. 8. And more expenses…<br />GAS<br />$100 per month<br />AUTO INSURANCE (6-month policy)<br />Single male $800<br />Single female $700<br />Married couple $865<br />HEALTH INSURANCE<br />Family policy $300<br />Individual $ 80<br />
  9. 9. Last of expenses…<br />CABLE/INTERNET (optional)<br />Basic $22<br />Standard $63<br />Internet only $50<br />Premium $100<br />Premium w/internet $160<br />CELL PHONE<br />Average plan $40 per phone<br />LIFE HAPPENS CARDS<br />Pick two cards<br />
  10. 10. Time to total<br />Are you in the black or red?<br />Do you need to supplement your income?<br />If you are married only one of you can get a second job, unless you have no children. You may not work more than 20 hours at your second job!<br />Phone call center $15/hr<br />Adult Ed Teacher $21/hr<br />Sales $7/hr<br />Restaurant Server $15/hr<br />
  11. 11. Net Worth<br />Net Monthly Income = Income – Liabilities<br />Class discussion<br />

×