Personal finance Essay Example | Topics and Well Written Essays - 500 words

Personal finance - Essay Example My concerns over the job market, the economy, and my student loan debt have led me to consider going to school for an additional year and earning a B.Ed. with teaching certificate so that I have a backup employment plan for the future. 1. Financial goals for the next 2 years (or until graduation with the 4 year degree). Monthly budget (show typical month to include a monthly pro-rate as needed (for each year). To some extent you have already done this. You can use spreadsheet following the basic outline of the budgets from worksheet #1 in the workbook. In a footnote add an explanation of any extraordinary items not contained in a monthly budget. After graduating, I have a two year grace period on my student loans to get settled, find a job, and begin building my career. It would make sense to start saving to build a cushion for emergencies and a base of savings to help cover bill payments. I will owe around $20,000 in student loans upon graduation, which I expect to pay off in 8 to 10 years. I have around $4000 in credit card debt from books, clothes, and other living expenses in school that I will need to manage. After graduation, I would like to travel for three months to Mexico and Latin America, and will budget around $4,000 to $5,000 in travel expenses for the trip. I expect to fund half of that through my own work and half through family gifts at graduation. In my first 2 years after college, I hope to receive a job paying in the $40,000 to $50,000 per year working for the company with which I did my internship last year. To date, I have applied but not heard back on my resume. With a budget of $40,000, I will receive around $2800 per mnoth after taxes for my budget: 2. Financial Goals for the next 8-10 years. Specific strategies to achieve them like income, major expenditures, saving amounts, and investment rate of return of targeted investments. Complete from information in worksheets and display on a spreadsheet for each year.