laurens future on 45,000 a year

PART 1: Budget
1. Career
What is the career given to you? Database specialist
What is your estimated salary/income? 65k

2. Deductions
Your gross income is your total income. Your net income is the amount of money you take home after deductions. Deductions come in the form of income tax, employment insurance, pensions payments, unions dues, licensing fees, extended health and dental coverage, and life insurance.
Net Income = Gross income 65000 x 0.3 = 45000
My annual Net income is: 45000
My monthly Net income is: annual income / 12 = 3750
3. Housing
Get your information from House Hunters Assignment.
a. What city would you like to live in? edmonton
b. How many roommates will you have? Three
c. I plan to RENT or BUY (highlight one)
d. My monthly rent or mortgage payment is? 1693/3
e. How much is your home insurance? $_118.75/3__/month
https://www.bcaa.com/insurance/home/renters
charging 715$ for rent for my two room mates so I don’t have to pay any thing for my living expenses it will also bring in 306$ a month that’s 3672$a year. I will also divide my internet and Netflix between them because they will benefit from it to. Ill pay 700$ a month and pay my morga in 15 years

4. Utilities (Electricity, heating, hot water).
Highlight the one that applies to you.
a. Living alone: $50/month
b. Living with 1 roommate: $35/month per person
c. Living with 2 roommates: $30/month per person

5. Telecommunications
What do you want for telecommunications?
a. Highlight the items you want: home phone, cell phone and plan, cable, internet, Netflix, other streaming service ______________,
b. Look online to see how much it would cost you per month to get what you want.
Service Cost
Phone 25$
Internet 25$ roommates
netflix 14$ roommates

Total : $ 25$
6. Food
a. Complete Meal Planner Assignment.
b. Meal cost $137/month

7. Transportation
How will you get around?
a. Public transit – $__ ____/month
b. Bike
i. Total amount to purchase $___ ____
c. Car
i. Use Car Purchase Assignment for this info
ii. Total monthly car payment – $_130/month
iii. Total monthly car insurance – $_140/month
iv. Total monthly gas estimate – $_117/month

8. Health Care
Here is the link to the current rates: https://www2.gov.bc.ca/gov/content/health/health-drug-coverage/msp/bc-residents/premiums/rates
a. What will your monthly rate be? $28.00/month

9. Recreation
What will you do for entertainment? (Concerts, movies, gym fees, lessons etc.)

What will you do for fun? How many times per month will you do this activity? How much does it cost per time you do this?

TOTAL COST per month
Anytime fitness 20 50$/per month 50$

TOTAL COST of all activities for the month:
$

10. Savings
Use My Savings Goals Assignment to help complete this section.
Something I want to save up for a condo.
• This costs $ 50,000
• I want to buy it in 4 year/s.
• How much would you need to put into Savings each month to reach this goal? $1041 a month

11. Emergencies
Are you ready for the unexpected?
Look at your annual net income, divide it by 12, then multiply it by 5%.
a. How much per month will you put into an emergency fund (5% of your net income is recommended; this is for when unexpected costs pop up in your life) – $750 /month
2142 so far
12. Other
Where else will your money go? Charity, travel, furniture, renovations etc.
Travel and savings
13. Budget
Next you will be transferring these amounts to the budget worksheet and doing the totals. You will notice there are some other important expenses on that worksheet that are not on this prep sheet; consider if these will be relevant expenses for you.
a. There are some additional items in the Excel that you MUST include like “Personal Grooming”
b. It is imperative that your expenses are LOWER than or EQUAL TO your income. Otherwise you will need to re-assess your spending and make adjustments until your budget balances. Make sure you adjust this Prep Sheet so it reflects the changes made to your budget.
*You will hand in this sheet with the completed ADULTING budget form*
2192 so far.
Part 2: FUTURE LIFESTYLES POSTER
TASK: Use digital images to create a collage illustrating the lifestyle you have created for yourself. Summarize in a few sentences what your future lifestyle might be like. Post it on your edublog under CLE 10 and Tag it: BrandsmaAdulting
Use Piktochart or another poster-generating site to represent your lifestyle.
Piktochart/Infographic: https://piktochart.com/
App on Phone: Pic Collage

You need to have the following in the poster:
1. Title: “(Name’s) Future Lifestyle on $_45000_/year”
2. Future home
3. Future mode of transportation
4. 3 other pictures of your choice that represent your life

STUDENT BUDGET WORKSHEET
*Only put values in boxes that are this colour!
*Do not use Dollar Sign $

LIVING EXPENSES $ per month $ per year
Housing
Rent/mortgage payments $700.00 $8,400.00
Home Insurance $- $-
Utilities $30.00 $360.00
Telecommunications $- $-

Food
Meal Costs $137.00 $1,644.00

Transportation
Public transit $- $-
Bike $- $-
Car payments $140.00 $1,680.00
Car insurance $130.00 $1,560.00
Gas estimate $117.00 $1,404.00
Maintenance and repairs (2% of value of car) $52.00 $624.00

Health Care
Prescriptions/glasses/contacts $-
Monthly rate $28.00 $-

Recreation
Total recreation costs $5.00 $60.00

Savings
Savings $750.00 $9,000.00
Emergencies $750.00 $9,000.00

Miscellaneous
Computer $200.00
Personal grooming (haircuts, makeup, shampoo, soap, deodorant, etc.) $50.00 $600.00
Clothing $50.00 $600.00

Other
Charity $- $-
etc

$35,132.00
Total Expences $2,939.00 $35,132.00

NET INCOME $3,750.00 $45,000.00

Monthly Yearly
TOTAL EXPENSES $2,939.00 $35,132.00
TOTAL INCOME $3,750.00 $45,000.00
DIFFERENCE: $811.00 $9,868.00