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Milestone Two: Financial Plan and Budget

[Your Name]

Congratulations on graduating with your bachelor’s degree from Southern New Hampshire University! A new array of opportunities is open to you, but which will you choose, and how will it impact your life? Select your discipline area of interest and examine the set of jobs you have applied to and received offer letters for to determine which one best fits your needs and wants.

Employment Opportunity Selection

Select an employment opportunity. Although it is not required at this point, you will defend your selection using your calculations and personal criteria in the final project.

State your employment opportunity selection.

Living Expenses and Debt

Using your selected employment opportunity, analyze your monthly expenses and income, and prepare a plan for paying down your debt. You can use your actual amounts of expenses and debt if you prefer, or, if you are uncomfortable using real numbers, or if you do not have any debt, you can make up a principal amount, interest rate, payoff period, and minimum payment to cover at least one student loan, one credit card, and one personal or auto loan. You can utilize as many loans as you like, but you must have at least three.

Budget Creation : Create a monthly budget using your new income, real-life expense categories, and the expenses associated with travel based on your selected employment opportunity.

Debt : In this section, you will compare your lines of credit to determine the best payoff method for you.

Comparison: Compare monthly minimum payments, principal totals, interest rates, and payoff period.

Process: Determine how you will figure out how to pay off your debt over time, considering your budget and your new income. Explain your process.

Plan: Establish a debt payoff plan that fits your budget, lifestyle, and the demands of the debt to be paid, explaining your reasoning.