Wednesday, March 25, 2015

Planning your career, buying a house, Budgeting 101

One of my favourite activities involved info from the Canadian Banker's Association. Once a year, employees from, for example, Nortel, would be given paid volunteer time to work with gr. 8's on a budgeting project. This led me to this post.

Budgeting

Welcome to your new assignment! Your job is to create a job and budget. Listed below are various jobs and monthly wages. Canadian Salary ranges.
You have two choices:
1. The Rate Hub website helps you understand your financial needs, plan a budget,  find credit, make money, and set goals.
This website, Canadian Salary Survey, gives annual salaries. You will have to figure out how much you will earn monthly in order to plan your future. Pay Scale offers the same information.
2. Choose your job (see the chart below) and write down your *annual* salary and figure out a budget as a new graduate and an adult.

Scholarships and Bursaries
Many students benefit from scholarships and bursaries. (See the Scholarships Canada website)
Students must apply online. Applicants must be encouraged to talk to guidance counsellors. Also, they need to do a search including the university/college they want to attend. Scholarships and bursaries are given by businesses such as TD Canada Trust Student Services - TD Canada Trust Scholarships, accessed by a Google search:
It is up to the student to apply and seek these resources. Scholarships and bursaries are based on specific criteria and qualifying details: your agricultural involvement, athletic involvement, extracurricular activity, leadership roles, school or community service, have a general disability. The majority are based on high marks.
Living Expenses
Students can find information about living inexpensively. Suite 101 has some good pointers.
Ask an Find Youth Employment for information. The Youth Apprenticeship webpage gives points and help for those who need support.

Plan a budget: you can visit  which will allow you to determine mortgages, budgets and the like. Affordability calculators,  Credit card basics.
In the table on are some guesstimates of monthly expenses.




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