After graduating from high school, Estrella plans to work for two years while living at home. She will work 50 weeks a year. Develop a plan that will enable her to save $26,000 for a two-year program at a community college.
To save $26,000 for a two-year program at a community college, Estrella can follow this plan:
1. Determine the total amount needed each year: $26,000/2 = $13,000 per year.
2. Calculate the amount needed per week: $13,000/50 = $260 per week.
3. Create a budget to live within her means while saving this amount each week. This can include expenses such as food, transportation, personal expenses, and any other necessary costs.
4. Find a job or multiple jobs that can provide sufficient income to cover her expenses and allow her to save $260 per week.
5. Set up a designated savings account where Estrella can deposit the $260 each week, ensuring that it is not easily accessible for spending.
6. Stick to the budget strictly to minimize unnecessary expenses and maximize savings.
7. Stay committed to the plan for the entire two years to reach the goal of $26,000.
It's important to note that this plan assumes Estrella's expenses are covered by her job(s) and the $260 per week saved is solely for her community college expenses. Additionally, she should consider factors such as taxes, potential raises or promotions, and any unexpected expenses that may arise during the two-year period.