Building A Budget

By: Olivia Wolfe

My Job:

Plastic Surgeon:

Annual Median Salary: $260,232

Ranges from $87,861 - $530,187

Schooling Requirements:

-4 year bachelor degree (pre-med program) (Biology,etc.)

-4 years of medical school

-then you must specialize in plastic surgery

-licenses after residency

Money Available: $35,000

Car:

2006 Volkswagen Passat: $3,000

5 year monthly payment on loan: $58 per month

Housing

3510 Pheasant Run Cir, Ann Arbor, MI 48108

$790 per month

Amenities:Electricity, Gas, Water, Garbage, A/C, cable TV, Internet, Fitness Center, Pool, full kitchen.

Telephone: Keep my current phone but change the plan to a cheaper one, costing $50

TLC Credit Union

Basic checking:

  • No service fee
  • No minimum monthly balance
  • No per check fees
  • FREE Personalized Debit Card at checking account opening
  • Debit Card Rewards Points

Variable Savings Account:

  • High-yield savings with tiered dividends
  • No service fee
  • Unlimited transactions
  • Quarterly dividends paid on an average daily balance of $500 and over
  • No penalties for withdrawal

Taxes:

Income: $66

Medicare: $42.29

Social Security: $180.83

State: $72.92

=$2620.63-$66= $2554.63

Insurance:

Life: $3.50 per month through MetLife

Renter's Insurance: approx. $12 monthly

Car Insurance: approx. $65 monthly

Car Registration: approx. $80