| Financial literacy is a class worth taking...if you can | | | | anywhere from $1,200 to $2,400 a year which is |
| find a class on financial literacy that is. Out of all | | | | $100 to $200 a month. However we will average |
| the Universities in America not one has a course | | | | it out at $1,800 a year which is $150 a month. If |
| on financial literacy. It's funny, here we are in | | | | you want Cable or Internet that could be another |
| 2007, teaching facilities everywhere with kids on | | | | lets say $960 a year which comes to $80 a |
| the inside, studying, with the ulitimate goal of | | | | month. |
| graduating and making tons of money. But we | | | | -Lets say you like to eat at least two meals a |
| never talk about money. In todays society it is | | | | day and live relitavely sanitary you will probably be |
| almost taboo to bring it up. You probably don't | | | | spending close to, let me round as far down as I |
| even talk about it at home. How do you expect | | | | can, to$ 4,800 a year which is $400 a month. |
| to understand money if you are not allowed to | | | | -And we'll just pray you don't own a car with |
| talk about it. | | | | insurance or a cell phone. |
| Before you spend money, you have to | | | | -By the end of the year just simply from all your |
| understand money. Now lets say you are at a bar | | | | basic expenses you will be shelling out $24,360. |
| and for some reason a cute girl comes and sits | | | | -So by the end of the year you are taking home |
| down next to you. You look over and the two of | | | | $5,640 a year, that's $470 a month, $117.50 a |
| you make eye contact, the dance begins. Trying | | | | week, which is $16.78 a day. Which means you |
| to play it cool you order yourself a drink and tell | | | | can spend seventy cents an hour and not be in |
| the bar tender to refill the girls class. Now your | | | | debt at the end of the year. |
| drink just cost you 6 dollars and her drink taxed | | | | Now I realize that not everyone is going to be in |
| on another 10 dollars. In order to have paid for | | | | the same earning bracket and people that make |
| those drinks you had to earn 24 dollars. The | | | | more money might be saying; "Well that doesn't |
| reason for this is Taxes. Of course the amount | | | | refer to me." But as many of our celebrity friends |
| of money taken out of your pay check is directly | | | | have learned that if you don't understand money |
| related to your income and which tax bracket | | | | and you don't save you are in just as much |
| you are in. But with the point being you have to | | | | trouble as anyone. For instance if you are |
| understand an annual income of 40K a year does | | | | celebrity that makes $10 million a year but your |
| not mean you can spend 40K a year. | | | | expenses are 10 million dollars a year, the second |
| Below is an example of a typical college graduates | | | | your Songs, Movies or TV shows stop generating |
| struggle with money. | | | | rating/revenue you would end up right back at |
| -Out of college lets say you land a entry level | | | | square one. Which leads me to my last point. Pay |
| position at 40K a year job, after taxes you take | | | | Yourself First!! Always think of the future and |
| home 30K a year which is 2,500 a month. | | | | where you wanna be five to ten years down the |
| -Now that you have recently graduated the party | | | | road. |
| ends quickly because you have 60K in college | | | | Control is another big issue; you must have |
| loans to pay. That's $7,200 a year and $600 a | | | | control. There's no reason to let money take |
| month. | | | | control of your life. Just make sure you don't put |
| -Now you need a place to live so you rent a one | | | | yourself in a situation where you owe more |
| bedroom studio for $9,600 a year, that's $800 a | | | | money then you make. Try to save a little, it'll |
| month and that's not including utilities which can be | | | | help you in the long run. Trust me. |