MY PROJECTED LIFESTYLE

Melanie Jones

Aspiring Career Field

Preschool Teacher Potential Employer

Memphis City Schools

Melanie’s Profile

First Year Teacher with a Bachelors Degree

Single One allowance Paid semi-monthly Annual Salary: $45,741 Monthly Salary: $3,811.75

Melanie’s Deductions

Monthly Gross Pay: $3,811.75 Deductions:

Federal Income Tax: $512.00 Social Security: $236.33 Medicare: $55.27 Health/Dental/Life Insurance: $90.00 Retirement: $190.59 Total Deductions: $1,084.19

Monthly Net Pay: $3,811.75 - 1,084.19 =

$2,727.56

Melanie’s Part-time Job

Monthly Net Pay with Memphis City Schools $2,727.56

Monthly Stipend from Part-time Job: $400

$3,127.56

$312.76

The Bristol on Union 205 Pasadena Pl Memphis, TN 38104 One Bedroom, One Bath 890 sq ft $890.00 Amenities

Utilities include water Washer/Dryer Hookup Microwave Dishwasher Spacious Closet(s) Dining Area Separate Kitchen Cable-Ready Sunroom Central air-conditioning

Utilities

$200.00 est.

Car Payment

2011 Nissan Altima 3.5 SR

Silver Exterior Black, leather

interior 32 MPG $24,740 Est. Monthly

Payments 592.43

Car Insurance

$79

Renters’ Insurance

$25

CONTINUE ADDING SLIDES FOR ALL EXPENSES…FIXED AND VARIABLE

BE CREATIVE WITH PICTURES AND INFORMATION

INCLUDE COST OF EACH EXPENSE…BE SPECIFIC ABOUT AMOUNT OF EXPENSE

Budget Balance

Total Income $3,127.56Total Expenses - 3,048.76Cash Surplus $ 78.80

Allocation of Surplus: Savings $ 50.00 Pocket change 28.00 Coin savings - 0.80BALANCE $ 0.00

Resources Google search or go www.bls.gov/oco to research for earnings you could

possibly make in your aspiring career field To figure Federal Income Tax withholding, see tax table:

www.schoolrack.com/carverbusinessteacher Click on “files” Open “Tax Withholding Table” file Tax tables begin on page 38 (be sure you use the appropriate tax table)

Use appropriate percentages for… Social Security Medicare Retirement 5%

Apartment (www.apartments.com) Utilities $200.00 Car payment (www.bankrate.com) Insurance (Progressive, Geico, All State, State Farm, etc.) Renters Insurance $25.00 Telephone (AT&T, Verizon, Cricket, T-Mobile, etc.) Cable (Comcast, Direct TV, etc.)