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Use A Career Plan To Develop Personal Income Potential

The document describes 1A David Bumphiss's plan to manage his personal finances working as a cashier at Baskin-Robbins making $8 per hour. It shows his gross pay of $144 for an 18 hour week and deductions for taxes, which leave him with a net pay of $130.98. It then outlines a yearly and monthly budget to allocate $242 per month for expenses and $29 in savings, leaving $307.29 remaining each month.

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David Bumphis
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55 views5 pages

Use A Career Plan To Develop Personal Income Potential

The document describes 1A David Bumphiss's plan to manage his personal finances working as a cashier at Baskin-Robbins making $8 per hour. It shows his gross pay of $144 for an 18 hour week and deductions for taxes, which leave him with a net pay of $130.98. It then outlines a yearly and monthly budget to allocate $242 per month for expenses and $29 in savings, leaving $307.29 remaining each month.

Uploaded by

David Bumphis
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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COMPETENCY 3 STRAND: DESCRIBE FACTORS AFFECTING TAKE-HOME PAY.

COMPETENCY 4 STRAND: DEVELOP A PLAN FOR SPENDING AND SAVING.

UNIT 6 FINANCIAL LITERACY


STUDENT NAME: 1A DAVID BUMPHIS

Use a career plan to develop personal income potential.

SUPPORT JOB McDonalds Name Of Employer: Baskin-Robbins


Kroger
Burger King Job Title: Cashier
Taco Bell
Baskin-Robins Hourly Rate: $8.00
Pizza Hut
Chick-Fil-A Job Application ScreenShot:
KFC
COMPETENCY 3 STRAND: DESCRIBE FACTORS AFFECTING TAKE-HOME PAY.
COMPETENCY 4 STRAND: DEVELOP A PLAN FOR SPENDING AND SAVING.

UNIT 6 FINANCIAL LITERACY


STUDENT NAME: 1A DAVID BUMPHIS

W4 W 4 ScreenShot:
https://pdfrun.com/project/editor/235
COMPETENCY 3 STRAND: DESCRIBE FACTORS AFFECTING TAKE-HOME PAY.
COMPETENCY 4 STRAND: DEVELOP A PLAN FOR SPENDING AND SAVING.

UNIT 6 FINANCIAL LITERACY


STUDENT NAME: 1A DAVID BUMPHIS

GROSS PAY Total Amount: $ 144 https://www.paycheckcity.com/calculator/salary/


Gross Pay ScreenShot:

Federal Withholding - $0
Social Security - $8.93
Medicare - $2.09
Mississippi - $2.00

7488
COMPETENCY 3 STRAND: DESCRIBE FACTORS AFFECTING TAKE-HOME PAY.
COMPETENCY 4 STRAND: DEVELOP A PLAN FOR SPENDING AND SAVING.

UNIT 6 FINANCIAL LITERACY


STUDENT NAME: 1A DAVID BUMPHIS

NET PAY Take Home Amount: $130.98 https://www.paycheckcity.com/calculator/salary/


Net Pay ScreenShot:

Federal Withholding - $0
Social Security - $8.93
Medicare - $2.09
Mississippi - $2.00
COMPETENCY 3 STRAND: DESCRIBE FACTORS AFFECTING TAKE-HOME PAY.
COMPETENCY 4 STRAND: DEVELOP A PLAN FOR SPENDING AND SAVING.

UNIT 6 FINANCIAL LITERACY


STUDENT NAME: 1A DAVID BUMPHIS

Organize personal finances and use a budget to manage cash flow.

https://goodcalculators.com/us-salary-tax-calculator/

Gross Yearly Income (Gross Pay): $7,488.00


Yearly Taxes: $548.47
Yearly Take Home (Net Pay): $6,939.53
Effective Tax Rate: 7.32%
------------------------------------------
Monthly (Gross Pay): $624.00
Monthly (Net Pay): $578.29
SPENDING PER MONTH $578.29 SAVINGS PER MONTH $336.29
Housing - $0 -$60 Holiday Gifts - $9 -$9
Utilities - $0 -$100 Tuition/College - $0 -$20
Food - $60 -$50 Emergencies - $20 -$
Transportation - $100 -$32 Miscellaneous - $0 -$
Debt repayment - $0 ------------- ------------
Clothing - $50 $336.29 $307.29
Entertainment - $32
Car insurance - $0
Total Spending:$242 Total Savings:$29
Monthly Amount After Spending & Saving: $307.29 ($271)

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