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This document outlines the annual expenses for a financial analyst earning $50,000 per year, detailing significant costs such as rent, car expenses, insurance, and daily necessities. The total annual expenses amount to $27,241.72. Additionally, it reflects on the educational requirements needed for a successful career in this field, indicating that a bachelor's degree in business is necessary for becoming a financial analyst. It emphasizes the importance of considering long-term educational choices for better career opportunities.
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Budget Project By: Cameron Wolfslayer & Shawn Valiani
Job • Job is Financial Analyst • Makes $50,000 a year
Rent • Monthly rent is $950 • Multiply by 12 * 12 • Annual cost $11,400
Car • It hold up to 12 gallons of gas • Total cost $25,915 • Divide by 5 / 5 • Annual cost $5,183
Car Insurance • 6 monthly cost $650 • Multiply by 2 * 2 • Annual cost $1,300 • The Car Insurance is
Gasoline • Gas price is $3.19 • Multiply by 12 * 12 • Total $38.28 • Multiply by 52 * 52 • Annual Cost $1,990.56
Energy Cost • Monthly Cost $ 90 • Multiply by 12 * 12 • Annual Cost $1,080
Cable • Monthly Cost $34.95 • Multiply by 12 * 12 • Annual Cost $419.40
Groceries • Weekly Cost $68.19 • Multiply by 52 * 52 • Annual Cost $3,545.88
Cell Phone • Monthly Cost $39.99 • Multiply by 12 * 12 • Annual Cost $479.88
Entertainment • Monthly Cost $ 52 • Multiply by 12 * 12 • Annual Cost $624
Additional Costs • Internet Cost $720 • Trash Cost $130 • Home Phone Cost + $360 • Total Annual Cost $1,210
Annual Expenses • Rent $11,400 • Car $5,183 • Car Insurance $1,300 • Gas $1,990.56 • Energy $1,080 • Cable $419.40 • Groceries $3,554.88 • Cell Phone $479.88 • Entertainment $624.00 • Internet $720 • Trash $130 • Home Phone $360 • Annual Cost $27,241.72
Reflection Questions 1. What were your total expenses? Our total annual expenses were $27,241.72 2. In order to live fictitious lifestyle at least what level of degree do you think you need to earn [ collage, masters, graduate, law school, business school, etc. ]? We would need a bachelors degree in business to become a Financial Analystbecause we need to know the income of different business to help others pay off their debts. 3. What connection between the highest earning careers and the level of schooling is needed? The connection between the highest earning careers and the level of schooling needed is that if you want a high earning career you will have attend school longer than most people. 4. Why should people think about the long-term effects of their educational choices when they are in middle? People should think about long-term effects because if they don’t think about it now they might end up with limited choices later in life or school.