APG Specialty Publications METRONORTH_WORKS_19_DE | Page 10

DOING THE MATH
are many more expenses,
even if you split some with
roommates. Below is a list of
standard monthly expenses.
As you see, it adds up, and
that’s just the basics! So when
you compare the cost of
living to how much you may
make per hour, you will want
to start thinking about how
much you will need to ‘just
get by’ versus how much you
will want to earn to maintain
your preferred quality of life.
This is why you should think
in terms of a career, and not
just a job. Many higher-paying
careers require certain levels
of education or training, so
do some exploration. Talk to
a teacher, career counselor,
parent, or an adult in the
career.
If you are a high school
student, you may be thinking
about your post-graduation
plans. If you plan on some sort
of post-secondary education,
like a two or four year degree,
consider the options as to
how to mitigate that expense.
If you are able or interested
in working while attending
college or a trade school,
many employers offer tuition
reimbursement or will pay
for certifications. This way,
you can get a start on your
career and financial goals.
You should also consider
how much it costs to live on
your own, presuming you
are ready to move out of
your parents’ home. Many
young adults just think about
the cost of rent, but there
INCOME BROKEN DOWN
Hourly Wage
Monthly Income
Annual Income
$10............................................ $1,733.....................................$20.800
$13............................................ $2,253.....................................$27,040
$16............................................ $2,773.....................................$33,280
$19............................................ $3,293.....................................$39,520
$22............................................ $3,813.....................................$45,760
$25............................................ $4,333.....................................$52,000
$28............................................ $4,853.....................................$58,240
AVERAGE MONTHLY EXPENSES
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Item Amount
Housing (Rent-1 Bedroom, unfurnished)................................. $800
Utilities (gas, electric, water)............................................................. $150
Insurance (car, renter)........................................................................... $150
Car Payment (used)................................................................................ $300
Gas for Vehicle........................................................................................... $120
Food................................................................................................................. $270
Clothing......................................................................................................... $125
Cell Phone, Cable, and Internet...................................................... $150
Entertainment........................................................................................... $130
Personal Items........................................................................................... $100
Miscellaneous............................................................................................ $130
Savings.............................................................................................................. $25
Total Monthly Expenses...................................................................$2,450