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Balancing Career, Home, and Finances: Michelle Young's Journey

Michelle Young, a dedicated professional, shares her insights on managing a fulfilling career while planning for her future family. Living in a luxury downtown Auburn condo and driving a 2011 Mazda Miata, she has a monthly budget strategy to secure her dreams. In her personal finance lesson, Michelle emphasizes the importance of education, budgeting, and saving to achieve independence and success. With references from sources like the Occupational Outlook Handbook and local real estate, her story reveals the determination and careful planning needed to thrive as an adult.

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Balancing Career, Home, and Finances: Michelle Young's Journey

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  1. Reminder!!! • You must use the Excel spreadsheet. • Copy and paste your table directly from Excel into your PowerPoint. • Do NOT change values in the PowerPoint tables – only change numbers in Excel.

  2. My Lifeby Michelle Young I am single, with no children, as I have focused on my career. I do plan to marry and have children in the future.

  3. Income and Taxes

  4. My Car2011 Mazda Miata MX-5Grand Touring Hardtop Convertible 2-door • I bought it from Jay Mazda in Columbus, GA. • My insurance agent is Kathy Powell with State Farm. • My car expenses, including bank loan, comprehensive/liability insurance, & tags & taxes comes to $730.03 a month.

  5. My Home145 MAGNOLIA AVEAUBURN, AL 36830 • LUXURY CONDO DOWNTOWN AUBURN. • TWO BEDROOM, TWO BATH CONDO THAT FACES MAGNOLIA STREET. AWESOME VIEW. • JENNAIRE STAINLESS APPLIANCES, PLANTATION SHUTTERS, WET BAR, PRIVATE ELEVATOR ACCESS. • 1232 sq ft • Asking price: $250,000 Purchase price: $235,000

  6. Projected Budget

  7. Monthly Budget Money Flow Graph

  8. I Learned...… • It is very difficult to obtain your dream job. • You can’t spend money without budgeting. • It costs a lot of money to be an independent and successful adult. • You can get a very nice home and vehicle if you save money. • I have to get a good education if I want to have the luxuries I crave. • To get a good education, I need to go to college, and to get there I need good grades in high school and lots of determination to succeed.

  9. Sources • Occupational Outlook Handbook • http://www.bls.gov/oco/ocos079.htm • Southern Union State Community College • http://www.suscc.edu/ • Auburn University • http://pharmacy.auburn.edu/ • Federal Income Tax Tables • http://www.irs.gov/pub/irs-pdf/i1040tt.pdf • State Income Tax Chart • http://images.pcmac.org/SiSFiles/Schools/AL/LeeCountySchools/SmithsStationHigh/Uploads/DocumentsSubCategories/Documents/States%20Individual%20Income%20Tax%20Rates%202011.pdf • First Realty • http://www.firstrealtyauburn.com/PropertyDetail.aspx?tab=1&RecordType=200&2060_min=1&2050_min=2&0040=6&0116=Auburn/Opelika%20MLS&AgoraPage=4&AgoraItems=5&Guid=19836432-cd3b-4756-ac18-4b209447eced&5020_order=descending&0043_max=180&0043_min=100&PropertyItem=3&PropertyIdx=19&PropertyDetail=300096252 • Kelly Blue Book • http://beta.kbb.com/mazda/miata-mx-5/2011-mazda-miata-mx-5/grand-touring?intent=buy-new&vehicleid=351287&options=4404920%7ctrue%7c4281056%7ctrue%7c4281315%7ctrue%7c4281294%7ctrue%7c4281058%7ctrue%7c4281519%7ctrue%7c4281401%7ctrue%7c4281271%7ctrue%7c4281485%7ctrue%7c4281271%7ctrue%7c4281471%7ctrue%7c4281271%7ctrue%7c4281278%7ctrue%7c4281478%7ctrue%7c4281278%7ctrue%7c4281271%7ctrue • Online Calculator • http://www.mlcalc.com/ • Mrs. Byrd’s Examples • http://smithsstation.lch.schoolinsites.com/?PageName=TeacherPage&Page=16&StaffID=67490

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