1 / 21

The Price of Independence

The Price of Independence. Surviving your first year in the “Real World”. Your family has been providing for you and supporting you your whole life. Soon you will be independent and supporting yourself… . HOUSING. Will you share your apartment with a roommate or do it on your own?.

olina
Download Presentation

The Price of Independence

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Price of Independence Surviving your first year in the “Real World” Your family has been providing for you and supporting you your whole life. Soon you will be independent and supporting yourself…

  2. HOUSING Will you share your apartment with a roommate or do it on your own?

  3. Housing Suburbs $700-$1,000 • Cities • $800-$1,200 • Out State MN • $400-$600 • Apartmentfinder.com

  4. Utilities 1BR: $25 2 BR: $40Xcelenergy.com • Some landlords cover the cost of water, garbage, and heat • Electric bill

  5. Communications $50 - $150 Verizon.com Quest.com • Cell Phone ($50-$75) • Text/Pic ($5-$10) • Data Plan ($30) • Internet ($30-$45) • Landline ($25 Basic) * Other charges may include long distance and overages

  6. Misc Items $100 - $250 • Services • Household • Personal

  7. Food $200 - $450 jobsnowcoallition.org • Grocery Shopping • Dining Out • Convenience Foods

  8. Transportation $100 - $400 • Car payment • Public transportation • Parking

  9. Car Maintenance $50 - $100 • Routine servicing • Repairs • accessories

  10. Car Insurance • Rates can vary depending on… • Where you live • Type of car • Age • Gender • Driving record Good $141 / $178 Not Good $183 / $217

  11. Gasoline Gasoline costs will vary based on • What you drive • How far you travel • Where you live $100 - $250

  12. Clothing Cost will depend on: • Work • Everyday • Activities $50 - $400

  13. Entertainment • What do you like to do for fun? • Music, movies, books, magazines • Memberships, licenses • Vacations $100 - $250 DirectTV.com

  14. Medical Expenses Employer Medical - $120 Employer Dental - $34 Individual - $125 Will you receive health insurance through your employer?

  15. Savings $100 - $200 Experts say you should put away 10% of each paycheck into a savings account.

  16. Credit Cards • They can work for you or against you! • Credit cards can be useful… • Credit Rating • Emergencies • Internet Purchases/Security • Travel

  17. Credit Card Expense $0 If you have credit cards, pay them off IN FULL every month!

  18. Any Questions? ? Let’s total the damages…

  19. Dollars per Hours Formula • Add your monthly expenses • Multiply your total monthly expenses by 12 • Multiply your yearly expenses by 1.25 • Divide your gross income by 2,000

  20. The Price of Independencee is not always cheap • Do you have the skills RIGHT NOW to be paid the hourly wage you calculated? • Is that the kind of job you want?

  21. Higher Education is KEY! “Today’s Preparation Determines Tomorrow’s Achievement.”

More Related