Congratulations!! It's June 2023 and you have graduated. You aren't really sure what you want to do and you have yet to enroll in college. You are just planning on taking a year and saving up some money but you want to get the heck out of your parents house (I get it). Apartment living - here you come!! You got a job at one of the local business for minimum wage ($9.45) and they promised you 40 hours. That means you'll be making $1,579.20 a month!! Hold on though - before you get too excited - taxes have to be taken out...so, you'll be taking home around $1,263.36.
1. Now it's time to research. With your monthly earning you need to research how much a two bedroom apartment is (we'll assume you are going to have one roommate to help with costs). You need to tell me how much your rent is and divide it in half.
2. Next, please list the other bills you will probably incur as well as the cost for each - remember, you have to stay in budget.
a. Cell phone - you can stay on the family plan but you have to pay your share
b. Car - you have to have one to get around but we'll say you got it with your graduation $$
c. Gasoline for the month - remember, you work local
d. Car Insurance - your car is paid for but you need to fully insure it
e. Health Insurance - I'll let your parents keep you on their policy :)
f. Electric - most apartments do not pay for electric - you can split it with your roomie
g. Gas - most apartments do not pay for gas either - you can split it with your roomie
h. Oil change for the vehicle - if you know how you only have to charge yourself for the materials
i. Food - you need to eat :) do the math
j. Entertainment - are you paying for internet, cable, movies, video games?...
k. Misc?... - hair cut, tp, paper toweling, soap, laundry, clothes, batteries, light-bulbs...
3. Explain why it could be stressful living paycheck to paycheck? Give me an example of what could go wrong. Why is it important to have a skill that others find valuable?
1. Now it's time to research. With your monthly earning you need to research how much a two bedroom apartment is (we'll assume you are going to have one roommate to help with costs). You need to tell me how much your rent is and divide it in half.
2. Next, please list the other bills you will probably incur as well as the cost for each - remember, you have to stay in budget.
a. Cell phone - you can stay on the family plan but you have to pay your share
b. Car - you have to have one to get around but we'll say you got it with your graduation $$
c. Gasoline for the month - remember, you work local
d. Car Insurance - your car is paid for but you need to fully insure it
e. Health Insurance - I'll let your parents keep you on their policy :)
f. Electric - most apartments do not pay for electric - you can split it with your roomie
g. Gas - most apartments do not pay for gas either - you can split it with your roomie
h. Oil change for the vehicle - if you know how you only have to charge yourself for the materials
i. Food - you need to eat :) do the math
j. Entertainment - are you paying for internet, cable, movies, video games?...
k. Misc?... - hair cut, tp, paper toweling, soap, laundry, clothes, batteries, light-bulbs...
3. Explain why it could be stressful living paycheck to paycheck? Give me an example of what could go wrong. Why is it important to have a skill that others find valuable?