1. BY: SUVRAJ MINHAS Getting My Life Together!

2. My Life In 5 Years… I plan to be finished school and be working as an ECE, which is short for Early Childhood Educator.

3. Step 1: My Annual Income My annual income is the starting salary of $22,612 Then I get my annual salary and calculate it with my taxes: $22,612 x 0.18=$4,070.16 Then I subtract my annual salary with the number I received from the last equation: $22,612 - $4,070.16=$18,541.84  income after tax $22,612 x 0.06=$1,356.72  CPP (how much put in yearly) $18,541.48 – 1,356.72=$17,184.76  annual income $17,184.76 ÷ 12= $1,432.06  monthly income

4. Step 2: Create A Balanced Budget Housing Costs: $300.00 per month is what I will pay rent towards my parents while I live at home, this is 21% of my total. Transportation: $100.00 per month for transportation in monthly passes, this is 7% of my total. Food: $145.00 per month for groceries, this is 10% of my total. Utilities: $85.00 per month for my phone bill and anything extra, this is 6% of my total. Medical/Health: $55.00 per month for medical/health insurance, this is 4% of my total.

5. Step 2: Create A Balanced Budget cont. Personal: $60.oo per month is money that I'll spend on myself, this is 4% of my total. Clothing: $30.00 per month is money that will be spent on buying clothes, this is 2% of my total. Entertainment: $100 per month is set aside for movies and such, this is 7% of my total. Savings: $1,432.06 - $875.00=$557.06 $557.06 is what I will be saving monthly and what I will also be putting into my savings account.

6. Step 3: Pie Chart of my Budget

7. Step 4: Determining a bank account The bank account I chose that would be best for me is a Value Account. I chose this account because I am putting $557.06 in the bank each month. Also as I am going to pay with cash for most things I won’t have as many fees to worry about if I using using a card.