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I need an answer urgently the question is complete After you have found your potential salary, set up your monthly budget using only 2/3 income
I need an answer urgently
the question is complete
After you have found your potential salary, set up your monthly budget using only 2/3 income to account for taxes and other deductions (called your net salary). For example, if you anticipate making $45,000/ year, then 2/3 times 45,000=30,000.$30,000/12=$2500 and that is what you want to use for setting up monthly budget. Provide this information in your overview. Part 2: Table of expenses and graphical representation. When creating your budget, be sure to consider the following categories: - Housing and living expenses (Rent/Mortgage, utilities, maintenance, etc.) - Food - Student loan payments - Transportation - Childcare (if applicable) - Credit Card or other debt - Car loans - Continuous medical expenses - Emergency savings - Retirement savings - Long term goal savings (i.e.: buying a home, new car, education, etc.) - Discretionary spending (Eating out, entertainment, etc.) - Insurance Be sure to note the net amount (Income minus Expense) so you can see your balance each month in your table of expenses You will display this table in your results, as well a graphical representation of your budget using a circle chart, bar graph, or other relevant display. The table and graphical representation MUST BE copied into your Word document. There should be only one submission. It is not necessary to submit your Excel file. Be sure to have all tables and graphs titled and categories labeled appropriately. Part 3: Reflection. Your essay should summarize your findings of your salary research and discuss the implications of your budget. Essay should be a minimum of 200 words. Be sure to put references in APA format. Academic Writer is the recommended guide for formatting resources. The following information should be included in your essay: - Why did you pick this location and job? - Were you surprised by your expected salary and income after taxes were deducted? Why or why not? - What were some challenges in creating your budget? What surprised you? - Were you able to set up an emergency/savings fund? Why or why not? How can you prepare for unexpected expenses? - How can you apply these budgeting tools to your current situationStep by Step Solution
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