The Price of Independence
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Transcript of The Price of Independence
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The Price of IndependenceYour family has been providing for you and supporting you
your whole life. Soon you will be independent and supporting yourself…
Surviving your first year in the
“Real World”
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HOUSING
Will you share your apartment with a
roommate or do it on your own?
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HousingSuburbs
$700-$1,000Cities
$800-$1,200Out State MN
$400-$600Apartmentfinder.com
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• Some landlords cover the cost of water, garbage, and heat
• Electric bill
Utilities
1BR: $252 BR: $40
Xcelenergy.com
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• 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
Communications
$50 - $150Verizon.comQuest.com
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Misc Items
$100 - $250• Services• Household• Personal
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Food
$200 - $450 jobsnowcoallition.org
• Grocery Shopping • Dining Out• Convenience Foods
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Transportation
$100 - $400• Car payment• Public transportation• Parking
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• Routine servicing• Repairs• accessories
Car Maintenance
$50 - $100
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• Rates can vary depending on…• Where you live• Type of car• Age• Gender• Driving record
Car Insurance
Good $141 / $178Not Good $183 / $217
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Gasoline costs will vary based on• What you drive• How far you travel• Where you live
Gasoline
$100 - $250
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Cost will depend on:• Work• Everyday• Activities
Clothing
$50 - $400
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• What do you like to do for fun?• Music, movies, books, magazines• Memberships, licenses• Vacations
Entertainment
$100 - $250DirectTV.com
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Will you receive health insurance through your employer?
Medical ExpensesEmployer Medical - $120Employer Dental - $34
Individual - $125
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Experts say you should put away 10% of each paycheck into a
savings account.
Savings
$100 - $200
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• They can work for you or against you!
• Credit cards can be useful…– Credit Rating– Emergencies– Internet Purchases/Security– Travel
Credit Cards
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If you have credit cards, pay them off
IN FULL every month!
Credit Card Expense $0
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Let’s total the damages…
Any Questions?
?
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1. Add your monthly expenses2. Multiply your total monthly
expenses by 123. Multiply your yearly
expenses by 1.254. Divide your gross income
by 2,000
Dollars per Hours Formula
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• Do you have the skills RIGHT NOW to be paid the hourly wage you calculated?
• Is that the kind of job you want?
The Price of Independencee is not always cheap
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Higher Education is KEY!“Today’s Preparation Determines
Tomorrow’s Achievement.”