Use the attached template to create your budget. Does it balance? Consider short-term, and long term changes you might need to make. 1) Estimate your Income: Determine your entry level salary of your new job: Find a REALISTIC position which you would qualify for on any legitimate website, for example: https://www.workopolis.com/en/ https://www.monster.ca https://www.indeed.ca You must include a copy of the job description (screen shot or text pasted in to report, NO LINKS) which includes location, salary expectation and qualifications as well as a personal reflection on why you would want this job (please explain if you have previous skills before your time at Mohawk, particularly if it is relevant to the application) Calculate your approximate NET income after your deductions (income tax, CPP and EI) using the following website (include a screenshot of the net income summary): http://www.calculconversion.com/gross-net-salary-calculator-ontario.html

2) Plan your Savings: You should try to build your emergency reserve (3 months income or 6 months expenses as quickly as possible). You may consider this your short-term goal. Think about your intermediate and long-term goals and allocate your savings accordingly. For purposes of this assignment, you do not need to determine which investment vehicle (ie TFSA or RRSP) is most appropriate, nor how to invest (ie: stocks, bonds, mutual funds) however we will discuss these issues later in the semester. Goals must be stated in SMART format (Specific, Measurable, Action-oriented, Realistic, Timely) and must be reasonable and realistic for the intended savings purpose. 3) Budget your Expenses: your budget must include, but is not limited to: Rent Utilities (including cell phone) Travel/transportation expenses Food Entertainment You may use actual personal numbers, or any legitimate website to gather your data, here are a few to get you started: https://www.rentboard.ca/rentals/rental_rates.aspx?locid=4257 https://rentals.ca/hamilton https://moving2canada.com/cost-of-living-in-hamilton/ https://www.numbeo.com/cost-of-living/in/Hamilton YOU MUST PROVIDE EVIDENCE OF YOUR RESEARCH INCLUDING SCREEN SHOTS, AND REFERENCES FROM ANY OTHER WEBSITES USED. You may add additional rows if required Income Monthly Amount Job Title/Description: Reflection: Monthly Gross Amount (before taxes) Monthly "Net" Amount (after taxes)

Savings Goals Total Amount Monthly Amount Include Purpose and Time Frame - SMART format Amount Goal #1 SHORT TERM Include Purpose and Time Frame - SMART format Amount Goal #2 INTERMEDIATE TERM Include Purpose and Time Frame - SMART format Amount Goal #3 LONG TERM Expenses Debt Repayment: Description Total Amount Rent: Description Location Transportation: (note, if you have already disclosed car payment, do not duplicate, but include items like gas, insurance, parking etc. If you do not intend to own a vehicle ensure you include expenses for public transit, uber, taxis etc) Item: Description: Cell Phone Food Gas Entertainment OTHER EXPENSES

Net Surplus/Deficit Discretionary Income DO YOU HAVE ANYTHING LEFT? Analysis: Based on your budget above, do you have a Net Surplus or a Deficit? If you have a Net Surplus, what could you do with the funds to increase your Net Worth? If you have a Deficit, what options do you have to cover the deficit each month? What budget items could you change to decrease/eliminate the deficit? Explain: ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ __________________________________________________________________________________