Rooney Lee is planning to attend the University of British Columbia in Canada. They anticipate total annual expenses of $26,675.07 which include tuition, housing, food, textbooks, transportation, and other personal costs. Rooney expects to earn $5,760 per year from a part-time job working 10 hours per week. Their parents will contribute the remaining $20,915.07. Rooney has also listed the specific anticipated expenses and potential sources of income including parental support, part-time earnings, and possible scholarships.

1. Financial Plan
Assignment
Rooney Lee

2. What is Your Educational Goal?
My goal is going to a university in Canada

3. Which institution
do you plan to
attend? What
expenses do you
anticipate? List a
range of
specific expenses
that you anticipate.
What are your
expected expenses
and income?
I plan to attend to UBC. I anticipate tuition,
food, dormitory, textbooks, school
supplies, pocket money for hanging out
with friends, personal expenses,
transportation, and school activity fees. I
expect to spend $26,675.07 per year. If I work
two times a week for 5 hours, I will earn about
$5760 per year. My parents will help with rest
of the expense.

4. Anticipated Expenses
• Post-Secondary application fee - $71.75
• Tuition fee - $5646.40
• Books - $800
• Accommodations (if you plan to live at home, I still want you to research as
if you were going to live in the ‘dorm’ or a campus residence) - Dormitory -
$10,700
• Utilities - includes to dormitory fee
• Food - part of dormitory fee + $2000 for eating out
• Transportation - $1200 for buses, taxi, and sky train/ $4000 for airplane (go
home in South Korea during breaks)
• Clothing - $1000
• Entertainment - $1000
• Health/Personal Care - $256.92

5. Where will the money come from? What
sources of support do you expect to have?
• Parental contributions - 78% of $26,675.07
per year ($20915.07)
• Part-time work - 22% of $26,675.07 per
year ($5760)
• Scholarships - If I get a scholarship, there is a
provincial scholarship awards which has a
value of $1000 ~ $2500. I could use this
money to support my tuition. I would have to
have outstanding academic achievements.

6. What obstacles might you encounter while trying to
meet these goals and how will you overcome them?
• For my short-term goal of tutoring, I might face
obstacles such as being patient when
teaching and forgotten concepts. I will overcome this
by growing my experience in teaching and review the
concepts. For the medium-term goal, dealing with new
people could be one of the obstacles. I will overcome
this obstacle by dealing more and more people.
Eventually, I will become better. For my long-
term goal, one of the obstacles might be having trouble
in finding specific information. I will overcome this by
researching deeper and deeper into the topic.