help students plan, budget, and be financially responsible after they graduate from university.

Assumptions:

$1.$ You are a recent USask graduate and will be working in a city that you plan to live in after graduation. You

will be working in a field of your choosing. $($Does not have to coincide with your $$Major$$ but it must be

realistic$).$ Your start date is January $1,2025.$ You have to research your salary.

$2.$ For simplicity, assume that your total income tax rate is $28\%.$ This does not include CPP or EI $($you need

to research & estimate those numbers$).$ Analyze and present your earnings on a monthly basis.

$3.$ You have $$800$ as an opening balance in your chequing account on January $1,2025.$

$4.$ You will be living in a place$/$apartment of your choosing $($one$-$year contract$),$ and rent is due on the $1$st of

every month. You must pay rent with cash$/$cheque$.$ You will need to research on the rent in the city you

plan to live in$.$ You will need to consider moving costs and$/$or costs for d$$cor upon moving and settling into

your place. You may have a roommate$($s$)$ if you wish. If you are going to have a roommate you can factor

this into your budget but it MUST be realistic. If basic utilities aren$$t included in the rental contract, you

must estimate and include them. To help you get started your parents have paid your $$last month$$s rental

deposit$$ so you only have to worry about paying rent on a month$-$by$-$month basis. $($Note: If you are planning

on living at home after school you must still include rent in your budget. The goal of this assignment is to

demonstrate what life will be like when you truly become financially independent$).$

$5.$ You have a credit limit of $$3,000$ on your only credit card, with a $2\%/$month $($simple interest$).$ The minimum

monthly credit card payment is $3\%$ of the previous month's balance, interest included. You may pay the

balance in full each month, but you don$$t have to$.$ If you didn$$t use the card you owe nothing. You also don$$t

have to use the credit card at all $$ it$$s just an option.

$6.$ Because you are fiercely independent you will not borrow money from friends or family. You may include

however, any realistic gifts you think you may receive for your birthday and$/$or holidays you observe where

gifts may be given.

$7.$ Acquire at least $7$ of the $10$ items in the box below. You can obtain these items in any legal way you choose,

except you cannot be $$given$$ any of them. To support your purchase costs for these items, please provide

a calculation$/$price quote or online$/$printed ad supporting $($Kijiji$,$ Facebook Marketplace, etc.$)$ your

budgeted$/$proposed purchase price, separately in your project. Hyperlinks will not be accepted as

support. If you already own many of the items below, you need to determine at least $7$ items that you will

need to purchase during the budget period as a result of moving into your own place and starting your life

and include those purchases in your budget.

Casual Clothes

and Shoes

Couch or Comfy

Chair TV Work Clothing and

Shoes

Cleaning Supplies

and Vacuum

Bed Frame, Box

Spring and

Mattress

Kitchen Table

and Chairs

Computer and Desk

or Laptop

Dishes, Cutlery,

Pots and Pans

Chest of Drawers

or Desk

$8.$ Also include the following items in your monthly budget:

a$.$ Phone bills.

b$.$ Amazon Prime$/$Cable$/$Netflix and Internet $($if not already included with rent or utilities above.$).$

c$.$ Food: Please do not use any online estimates$/$food guides to come up with your budgeted monthly

food expenditures. Use your own current food costs and extrapolate $($i$.$e$.$ you may eat more $($or more

expensive food$)$ once you have a job. You may dine out more often than you do now.$)$

d$.$ Entertainment: Consider a wide variety of entertainment, including movies, sporting events, travel.....

e$.$ Insurance: Tenants, health, other $($as you deem appropriate$)$

f$.$ If you choose not to have a car, budget for other modes of transportation $($transit pass, Uber, Taxis,

etc.$)$

g$.$ Medical Expenses: Consider prescriptions and co$-$pays for doctor visits, chiropractor, massage,

physio, etc.

h$.$ If you have student loans, include a reasonable monthly repayment based on your best estimate,

assuming you will be paying them immediately. If you do not have student loans, include this as

$$0$ so I know you have not forgotten it$.$

i$.$ Emergency fund $($you decide how much to maintain$)$

j$.$ Savings $($you decide what for. E$.$g$.$ vacation, Christmas, large purchase, etc.$)$

k$.$ Retirement Contributions. These are separate from savings, since they are for the distant future.

l$.$ Charitable contributions. You have discretion on the amount and frequency, but consider them. If

you choose not to make charitable contributions, then indicate that. I would otherwise think you

had omitted it unintentionally.

m$.$ Gifts for others. You have discretion on the amount and frequency, but consider them.

$*$If you don$$t want to spend money on a particular item listed above $($e$.$g$.$ savings$)$ you must include it as

$$0$ so I know you have no