College, housing, transportation, groceries, pets, maybe even a family- these are just some of the few financial
stresses that you have to think about when you are older. This past week my math teacher assigned me a project where I have to research about my future. I had to see the tuition of college, salaries of jobs, and costs of all other necessary purchases (such as housing and food). Here is all of the information that I have gathered:
First, I want to have a college education, and I am debating between these two schools to (hopefully) attend: University of Texas in Austin or Cornell University in New York. The difference between them- about $45,000! I am leaning towards UT because it is cheaper, and is a very good school for business. It is not as good a school for veterinarians as Cornell, but it’s pretty close! If I do get into UT, the total cost of everything (tuition, room, books, other) for 4 years equals about $158,000. Hopefully I will be able to get a scholarship because college is so expensive! I honestly didn’t think college is so costly. I always knew it was quite expensive, but I never though it was that much!
When I grow up I want to get a job as a veterinarian. Veterinarians can get a salary between $50,480-$141,680/year or $4,206.66-$11,806.66/ month. Probably when I start off my first job won’t have the highest salary, but that’s ok because it just means that I will have to budget my spendings more wisely. I would love what I do everyday and that’s all that matters (all the adorable animals *happy sigh*). Yay adulthood?!
After I graduate college and get a job I want to move to a fully furnished apartment in Dr. Palm Harbor Florida. I will want to have a roommate to ease up the rent cost. With a roommate it will be $575/month or $6,900/year(my apartment rent includes all the utility bills). For transportation I will take my sweet 16 car (My older brother’s car) a Mazda. The 2014 Mazda 3 MPG will cost me about $945/year for gas. I also want to get a bicycle for $300, so I can save money and bike to places that our close to my apartment. Housing and Transportation are quite expensive, but luckily not as costly as college (still can’t believe it is so much money)! I am actually pretty excited thinking about the idea of living on my own. I can’t wait!
I have always wanted to adopt a dog, so when I’m older of course I’m going to get one! It costs about $30,000 to take care of a small breed dog for 10 years. This actually doesn’t really surprise me since $30,000 includes all the veterinarian bills, haircuts (my dog’s haircut costs $80!), food, and care for when I go out of town.
The bills that I would have to pay/ month would be my apartment rent ($575), groceries of about $400 (I want all that organic delicious food), extra shopping (for fun) about $100, and that all together is $1,075.Which out of a (I’m thinking) $6,000 paycheck leaves me with $4,925 to put away for savings or a trip to the Maldives or something. I never realized how expensive in general life is. My parents are (so far) really good and responsible with their finances. We have savings for an emergency. For instance, when my family this past January had to make an emergency trip to India for my sick Grandma, Dad didn’t even think about spending $4000 on plane tickets! When I grow up I want to have the same financial mindset as they do. I have to make sure to put my needs before my wants, and not spend all my money on shoes!
After all the information I researched I have gathered 3 valid conclusions:
1. Life is so expensive!
2. I am not looking forward to adulthood.
3. I am feeling a little bit better about the future that lies ahead of me (if it goes according to my plans).
If you spend your money responsibly then you will probably have a nice life. There will be no debts, sleepless nights worrying about bills, or mad bank consultants yelling at you. When I’m older I am definitely going to budget my spending. If I do, I’m hoping I will be set for a wonderful life ahead!