50 Point Financial Assignment Dr.

Lyles Health and Wellness Connor Marshman

1. Track Spending for 1 week (very detailedput into an xls document)

Spending for Connor
Marshman Feb 2-8
2-Feb-14 $100 Cash Deposit
3-Feb-14 ($18)Sport Clips Haircut
4-Feb-14 ($40)School Supplies
5-Feb-14 $0
6-Feb-14 ($30)as !or car
"-Feb-14 $50 Cash Deposit
8-Feb-14 $0
#otal $ala%ce& $62
2. Document: Monthly Income (financial aid); Debt (Loans (auto; home; credit card
debt; overdraft); Assets-what you currently have (cash; savings; investments)put
into an xls document
Monthly Expenses for Connor Marshman
School scholarship $"60
'((itio%al scholarships $225
'((itio%al Support !ro) pare%ts $200
*or+ stu(, $200
Cost o! -as.tolls ($300)
Cost !or tuitio% ($/85)
Cost o! pho%e ($35)
#otal $ala%ce& $65
3. Complete calculator found on-line. Use as a month to month budget. You will
anticipate your expenses for 1 year of college:
http://www.waddell.com/personal_investors/interactive-planning-detail.aspx?
calculator=StudentBudget (Submit a copy of the calculator to the dropbox as a pdf or
word doc.)
50 Point Financial Assignment Dr. Lyles Health and Wellness Connor Marshman
4. Think about your possible careerFind out the starting average salary (if not
decidedthink about 2 top choices); also find out if you will need additional
training (masters degree etc.). Tell me your plan for getting to your goal. Will you
go straight into a masters program, work first, etc?
Optimistically for my degree in Graphics and Multimedia, a starting salary as a
multimedia designer would be around $40,000. I would not be against future education,
but I would like to find placement in a job immediately after I graduate with my
bachelors degree. I am trying to intern at a magazine company in the Pittsburgh area.
Ideally, I would love to get a job from that internship. Once I obtain a job, I likely will
work my way up a pay-scale through the years. Ultimately, I would like to be self-
employed and have my own business once I have established my skills.
5. Research anticipated expenseswhere you would like to live (how much does an
apartment cost?; auto; student loans; anticipated expenses for food; gas/electricity,
etc.)
I would like to stay in the Pittsburgh area. Doing some research, it appears the average
apartment for my needs is about $800. Groceries would be around $100 a week. Car
payments typically run around $400 a month. I am grateful to not have any student loans
I will need to pay off. As far as gas and electricity, the average is around $200. Monthly
water bills appear to be $50. Cable is about $90 a month depending on the company. A
cell phone can run around $30 a month.
6. Summary of what you have learned in lecture and through the assignment with
regard to your personal finances. Outline what you have learned and how you plan
50 Point Financial Assignment Dr. Lyles Health and Wellness Connor Marshman
to use this information going forward to secure your financial future. Please discuss
3 immediate ways you will take action now that will have an impact later.
Since I am still living with my parents, this exercise was eye-opening for me when
considering how much costs go into just living expenses (i.e. electricity, groceries, car
payments, insurance). I have taken for granted a lot of the modern amenities that cost
money. Next time I watch television, surf the internet, or drive in my car, I will be more
conscious of the finances that make all those things available to me. If anything, this
whole assignment makes clear to me that I am not currently capable of independent
living. As far as actions I can take now to better myself financially down the road, I am
focused on getting optimum grades so that I can a good career, spending available money
on expenses rather than on possessions, and starting to save a little bit of money each
month in a savings account.