Instructions Overview: It is the year 2021 and you are working a decent starter job making a gross of $29,000 annually. Your first objective is to build a monthly budget for yourself. This should have 8 to 15 categories, including rent, student loan payments, and savings. For rent, you are assuming you are single, living alone. Pick a city to live in and do some research on an apartment you'd like to have to estimate your rent. For the rest of your budget, you will need to justify each category and its amount Assume that in the city you are going to live in and for the income you are eaming, local, state, and federal taxes will come to 15% of your income We will also assume that you are about to start saving for something in your life. The goal you are saving for is up to you, but it should take between two to ten years to save for the amount you save per month should be included in your budget. Your savings account will have an APR (annual percentage rate) of 1.5%. You will need to justify the amount you save monthly Our last assumption is that you have $5,000 in personal loan or credit card debt at 12.9% annual interest AND $14,500 In student loan debt earning 6.8% annual interest. You will not be putting any other charges onto your card, only paying it off. You will need to find a monthly payment that will allow you to pay off your personal/credit debt in 3 to 5 years and your student loan debt in 10 years Instructions Overview: It is the year 2021 and you are working a decent starter job making a gross of $29,000 annually. Your first objective is to build a monthly budget for yourself. This should have 8 to 15 categories, including rent, student loan payments, and savings. For rent, you are assuming you are single, living alone. Pick a city to live in and do some research on an apartment you'd like to have to estimate your rent. For the rest of your budget, you will need to justify each category and its amount Assume that in the city you are going to live in and for the income you are eaming, local, state, and federal taxes will come to 15% of your income We will also assume that you are about to start saving for something in your life. The goal you are saving for is up to you, but it should take between two to ten years to save for the amount you save per month should be included in your budget. Your savings account will have an APR (annual percentage rate) of 1.5%. You will need to justify the amount you save monthly Our last assumption is that you have $5,000 in personal loan or credit card debt at 12.9% annual interest AND $14,500 In student loan debt earning 6.8% annual interest. You will not be putting any other charges onto your card, only paying it off. You will need to find a monthly payment that will allow you to pay off your personal/credit debt in 3 to 5 years and your student loan debt in 10 years
