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Life After High School

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On Your Own For this POW, we are trying to make a plan financially for life after high school. I am making a budget based on an estimated income based on my desired job and all expenses that people living on their own have to pay now. I am researching any expenses I will have to pay later in life and factoring them into my budget.

For my job I have selected to be an electrician. Straight out of high school base pay would start at a salary of $55,000/year before tax. After tax reduction I will have an estimated $48,067/year of bring-home income. I found this job on a job board for high paying jobs with only a high school diploma required, it wasn’t the highest paying job, but it fit my interests and had decent pay. My hours would be a normal 8 hour day except instead of the average 9-5 I would work more so somewhere around 7 am to 3 pm. I will sometimes have to start at 7 and not get off until 5 depending on when I finish my last scheduled job. For any overtime work after the scheduled time of a job, the average rate would be about $30.00/hour past the scheduled time of the job. …show more content…

I would live in Miami because I have always dreamed of living in Florida and my roommates and I found a very reasonably priced apartment in Miami. Our apartment has 2 bedrooms and the rent is $284/month per person. The apartment does have a large security deposit fee of $3000 due to the amount of furniture included in the apartment. This will be split among the three of us and we will each pay $1000 before moving in. This will only be paid once though. Although the apartment is furnished, I would estimate roughly $1000 for extra

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