Set this up for your first few years, either straight out of high school or just out of college. Try to be as realistic as possible.
1. Research the occupation you think you will enter after graduation from either high school or collage. Find a reference of starting salaries for that job. Send a copy of your reference. You will use the following assessment; http://www.iseek.org/careers/skillsassessment
2. Save copies of the bills that your family receives. You will use these to estimate your own expenses.
3. Use te classified ads and/or Internet to find an apartment. Consider the monthly rent, utilities, and deposit required when selecting a place to live. Attach a copy of the ad and include a picture of the apartment, if available
4. Check Internet sites that provide budgeting advice. List your sources. Write two paragraphs summarizing helpful strategies and tips you used in creating your budget.
5. Using excel software, prepare a monthly and yearly budget.
Use excel to calculate the totals for each category of your budget. Write a formula in the spreadsheet to convert the monthly figures to yearly figures.
Use word processing software to prepare your report. Include the followings:
- an explanation of your employment plans after graduation- include why you want the job, what training is required for it, and project how much money you will earn each month from the starting pay.
- two paragraphs summarizing helpful strategies and tips you used in creating your budget
-the excel spreadsheet of your monthly and yearly budget, pasted electronically into your report
-copies of your sources for starting pay, your apartment and bills ( you may omit any personal information)