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BUDGET PROJECT: How Much Will You Earn?

The Project is designed to assist students in considering their financial future after graduation.

How much will you earn?

How much will you earn?

 

  • One of the biggest decisions you will make in the near future will be what path to take towards your anticipated career.  This budget will reflect your financial position immediately following the last level of education needed for your anticipated career. Your salary has been decided by the labor market.  Mr. Wolfe used the NACE 2018 Salary Survey to predict your first years' salary based on your degree and career field.  If you are currently talking with a recruiter will will use base pay for an E-1 for this project.
  1. What career did you anticipate pursuing?_______________________________________________________________________________
  2. What level of education is required for this career?_______________________________________________________________________  

            ** This will be important when you calculate student loans.  A Masters/Professional degree will incur more student loan debt.

        3. What is the median yearly wage/salary for this career?

             a. Yearly Entry Level Pay- $______________________________

             b. Divide yearly pay by 12 for your Monthly Income- $_______________________

Gross Monthly Income (Before Taxes)....................................................$____________________________

Resources:

http://www.bls.gov/k12/content/students/careers/career-exploration.htm

NACE Salary Survey 2018

Websites

360 Degrees of Financial Literacy

360 Degrees of Financial literacy is a national volunteer effort of the nation’s Certified Public Accountants to help Americans understand their personal finances and develop money management skills. It focuses on financial education as a lifelong endeavor—from children learning about the value of money to adults reaching a secure retirement.

Are You Financially Fit?

A workbook to help readers foster a financially fit lifestyle.

Budget Calculator

An easy-to-use monthly budget calculator from Clearpoint, a division of Money Management International.

Consumer.gov: Making a Budget

A basic overview of the importance of budgeting and steps to start a budget.

Kiplinger's Interactive Budgeting Worksheet

A virtual worksheet to help manage monthly living expenses.

Practical Money Skills for Life: Budgeting

An overview on budgeting, with a worksheet and calculators. Sponsored by VISA.

Spending Plan

Spending Plan worksheet from Saveandinvest.org.