Ch 7 How to Make a Budget

Step 1: Choose a career

-For the chapter 7 project, my career I chose was a Registered Nurse.

Location	Pay Period	2009
		10%	25%	Median	75%	90%
United States	Hourly	$21.14	$25.25	$30.65	$37.49	$45.05
	Yearly	$44,000	$52,500	$63,800	$78,000	$93,700
California	Hourly	$28.46	$33.52	$39.86	$48.11	$56.41
	Yearly	$59,200	$69,700	$82,900	$100,100	$117,300

Step 2: Choose a college and pay for it

1. College: San Jose State University.
2. Tuition for 4 years: $ 94,296
3. How to pay for it:
a. Parents savings: $ 48,000
b. Summer job: Total Bally Fitness Receptionist

i. your hourly wage: $ 8.25
ii. total number of hours worked: 20 hours a week
iii. total amount: $ 1650

iiii. $$ towards your 4 year tuition
c. Scholarships:

1. APIASF: $5,000-Asian ethnicity, U.S Citizen, & GPA above 2.7

2. Haratio Alger National Scholarship: $20,000- Eligible for financial aid & involved with community activities

3. George Geng On Lee-Minorities in Leadership: $1,000- California resident and demonstrate financial needs

4. East Bay College Fund: $2,500- Documented financial need & GPA above 3.0

5. Jackie Robinson Scholarship: $ 6,000- Asian minority

6. Bay Area Family Funds: $5,000- California resident
d. Financial Aid: Grants (please explain which ones and how you are eligible):

1. Pell Grant: $5,550-Eligible

2. SEOG: $4,000-Need of financial aid

3. Academic Competitiveness Grant: $ 2,050- Eligible
e. Financial Aid: Loans: $29,863

Nursing School

1. American River College in Sacramento

-Nursing (RN) Associate Degree(+ 2 years)

2. Tuition for 2 years: 34,726

Step 3: Student Loan Payments

1. Number of monthly payments: 18

2. Simple interest rate: 6.8

3. Principal Amount of Loan:$ 863

4. Monthly Payment: $50.00

5. Total Interest Cost: $988.00

Step 4: Find a job

1. Job: Registered Nurse at Kaiser Permanente
2. Research salary and benefits:

a. Hourly salary: $33.73

b. Monthly salary: $134.92

c. Annual salary: $7,015.84

b. Health Benefits (medical, dental, vision): Medical care-prescriptions,vision, mental health, and dental. Disability and Life insurance coverage
c. Retirement plan (401k) or pension: Retirement plan (401k)

Step 5: Find a place to live

1. The Woods Apartment in San Jose. $1,585 a month.

2. Prices include water, garbage, gas, sewage, and secondary parking.

3. Has a washer and dryer with furniture included

Step 6: Transportation

1. Car- Honda Accord

2. Gas~about $4.29 a gallon.

-Monthly: $120