1. Career Development1 Personal Budget phs

2. Career Development2 Salary  Paycheck –Deductions: Taxes Child Support Social Security Retirement Insurance

3. Career Development3 Living Expenses  Fixed Costs –Rent –Basic Utilities/Phone –Insurance –Minimal Food –Minimal Clothing

4. Career Development4 Living Expenses  Variable Costs –Transportation –Cable –Entertainment –Miscellaneous –Added Food and/or Insurance –Added Utilities

5. Career Development5 Large Costs  Rent: –2 Bedroom - $600+ Possibly use roommates to lower costs Cost will vary depending on location and size –Utilities included? –Deposits? –Renter’s insurance

6. Career Development6 Large Costs  Automobile: –Most consumers buy 60 mo. –Leases difficult with limited credit –Older cars = shorter terms –$.25/mile maintenance –Sports cars/SUV/Trucks = high insurance –Financed cars require complete coverage

7. Career Development7 Smaller Costs  Utilities –Water, Gas, Electricity Electricity ranges from $50-150/mo. Gas ranges from $10-50/mo. Water ranges from $10-30/mo.  Phone Basic service - $15/mo.

8. Career Development8 Smaller Costs  Television –Basic Cable - $30 –Wireless - $25  Food –Weekly - $50-75 –Daily fast food = $150+ –Personal necessity items must be added

9. Career Development9 Smaller Costs  Clothing –Depends on style and job  Entertainment –Depends on interests  Miscellaneous –Envelopes, Broom, Extension Cord

10. Career Development10 Other Factors  School Loans  Child Support  “Start-Up” Items –Television –VCR –Telephone –Vacuum

11. Career Development11 Goals & Objectives  Five-year goals –State specific measurable objectives Home; Family; School –State salary objectives Be realistic within chosen career –State savings objectives Need 3 mo. Salary minimum

12. Career Development12 Key Issues  How to get started  Career Requirements