Financial Literacy Project
I am a veterinarian and I get paid $41,115.35 a year with taxes total ,but I get paid $48,371 without tax. To calculate the total of my yearly income I subtracted my taxes from my total yearly income without taxes,my tax was 15% and that equaled $7,255.65! I I subtracted $7,255.65 from $48,371 and I got my yearly income which is $41,115.35. To calculate the total monthly income I divided my yearly income by 12! My monthly income is $3,426.28!
I got 2,055.78 in my savings for 6 months and I calculated it by multiplying my monthly savings by 6! My monthly savings is $342.63 Because I save 10% each month out of my monthly income which is $3,426.28. Each year I put $4111.56 in my savings. I could only afford an apartment with 2 bedrooms and bathrooms also I wanted it because it had some room for people to come over and spend holidays together! I got a ford fiesta for a car because it also had a lot of room in it for trips and other vacations also I could afford it!
My P.B.L financial literacy project was a big challenge! It helped me know a lot more about how to budget. A budget is something that helps you keep a record of what you buy or earn and how much money you have! The P.B.L taught me what an adult feels like. Adults can't buy everything that they want whenever they want. Like on a grocery list,you can't buy everything you want you need to buy all of your needs first! Needs are stuff you need,like fruit,water,meat,and veggies! Wants are stuff you really want to buy,but can't always afford that is why you should buy them last. Wants are stuff like soda,candy,and chips! This project was a great way of showing me how life will work when I'm older,and what I need to do!