Published: 2026-02-25
Last Updated: 2026-02-25
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| Item | Amount |
| Wages, Income, Personal Revenue | |
| Paycheck | 7083 |
| Taxes | 1558 |
| Pay | 5525 |
| Basic Essentials | |
| Rent | 1500 |
| Food | 600 |
| Utilities | 300 |
| Car Payment | 700 |
| Car Insurance | 500 |
| Clothes | 400 |
| Going Out | 1000 |
| 5000 | |
| Financial Stability | |
| Student Loan | 276.25 |
| Savings | 248.75 |
| 525 | |
This is a standard budget for a college student with no experience in some areas. The wages are unlikely to go up over the years and in fact may fluctuate $10k to $15k as they are switching jobs. The student loan is set at 5% of take home pay and they have $248.75 each month for savings. This adds up to $104k over 35 years.
When thinking about emergency planning, if they cut out $1400 to go out and buy clothes, at $36k per year for rent, food, and utilities, their savings would last 2.9 years if prices are steady through retirement.
Health insurance would need to be paid by the government and they have no money for mortgage savings. They also can't afford to take additional classes in an ongoing college program.
There are no unallocated funds in this budget.