Before you can start creating a financial plan for your educational costs and future budget, you need to make a career choice and then research to find out if you will earn enough money in that career to support the lifestyle you want to live. Think about the following:
What is your top career choice?
What are the educational requirements for that career?
What is the current annual salary range for your chosen career?
How will you budget your money?
Choose a career, then think about the educational costs associated with that career. Determine the average salary for someone in this career path, and then complete the Financial Planning Portfolio to create a budget based on your potential salary.
You may have to do some research to locate information about educational costs and projected income after graduation. This portfolio is designed to help you start thinking about how you can plan for your future.
While completing this portfolio, you may find the three websites linked below helpful. To access the websites, select the link below. The first website contains information about average career salaries, and the second link will allow you to explore the cost of specific colleges and universities, along with what degrees and majors are offered. The third link will give you information about the costs of living expenses other than your education.
which would be a nurse
My top career choice is to become a nurse. The educational requirements for this career typically include completing a nursing program and obtaining a nursing license.
According to the Bureau of Labor Statistics, the current median annual salary for registered nurses is around $75,330.
When budgeting my money as a nurse, I will consider expenses such as student loans, housing, transportation, healthcare, groceries, and leisure activities. I will also take into account saving for retirement, emergencies, and future goals such as buying a home or starting a family.
I will research the cost of nursing programs at different colleges and universities, as well as potential scholarships, grants, and financial aid options. I will also explore the cost of living expenses in different areas where I may work as a nurse to determine the best location for me financially.
By creating a financial plan based on my potential salary as a nurse, I can set realistic goals and make informed decisions about my future education and career path.