Trying to build a plan

[Exitonly]

Hey, first if this is in the wrong forum, my bad and please mve it, but i didn't see a more appropriate one.

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I'm trying to plan out, well pretty much what the rest of my life is going to cost, and i dont know what some of the things cost, so i thought i'd ask for sample #'s from people here.


Health Insurance for just myself?
Health Inrurance for me and my wife?
Health Insurancee for a family? (one or two kids)
Life Insurance for me and my wife?
Electric Bill for a family?
Water Bill for a family?
Gas Bill (for a home w/ Gas heating)?
Property Tax?
Home Insurance?

Any other expenses you think a 20 year old would be forgetting?

I appreciate any help.

Thanks,

Ray

edit: I realize some/most of these things will be a case by case basis, but i just need a number somwhere in the right ballpark.

[Vavavoom]

*Motor Vehicles (both initial outlay, depreciation and petrol, tax, insurance)

*Mortgage

*Holidays

I'll add as I think of more...

** Food & Drink (Unless u live off the land)

[daveymck]

The average cost of a child is on $160k from birth to 18 then need to add in potential college fees. Theres osme figures for the UK that could nake it as much as $400-500k dependant on how much childcare costs (the exchange rate probably inflates this a bit).

Pension provision?

[Exitonly]

[ QUOTE ]
The average cost of a child is on $160k

[/ QUOTE ]

Nice. I'll need that for the 2nd part of my plan.

My "Next 5 Year" plan (5 year is my estimate before i marry my GF/start a family) consists so far of:



<font class="small">Code:</font><hr /><pre> Description Cost Interval Yearly Cost
Breakfast 5 Daily 1825
Lunch 10 Daily 3650
Dinner 15 Daily 5475
Gasoline 50 Weekly 2600
Clothing 50 Monthly 600
Car Insurance 2500 Yearly 2500
Electronics 1500 Yearly 1500
Dates 50 Weekly 2600
Gifts - GF 500 Yearly 500
Gifts - Other 250 Yearly 250
Haircuts 12 Monthly 144
Misc. Food 25 Weekly 1300
Metro's Tickets 250 Yearly 250
Travel to Tampa 1000 Yearly 1000
Car Maintenance 300 Yearly 300
Cable Bill 65 Monthly 780
Cable Modem 40 Monthly 480
Cell Phone 25 Monthly 300
</pre><hr />


<font class="small">Code:</font><hr /><pre>Total Cost 26054
Cost/Month 2171.166667
Cost/Week 501.0384615
Cost/Day 71.38082192
</pre><hr />


Currently, i don't pay rent (live with my dad), and probably won't until i get kicked out of current school, so that's atleast till January, Most likely till may, and possibly not for a while.

Any obvious expenses i'm missing for the next 5 years?

After that, i still need the numbers for items i listed above.

[daveymck]

Nights out? NOtice you have dates at $50 once start going to bars and clubs etc at 21 maybe gigs and stuff I suspect you would need more put aside for that.

Also make sure when budget is complete to add a contingency.

Dont be a budget boy.

[Exitonly]

[ QUOTE ]
Dont be a budget boy.

[/ QUOTE ]

Er.. well i'm not doing it so that i can 'stick to budget' and live accordingly, i'm doing it because college doesn't seem to be working out for me, and i want to estimate what kind of money i'm going to need the rest of my life, and then think about ways of acquiring said money. Then once i think of the different ways i can acquire my money, i can then make an actual budget to follow, depending on what the specific income is.


if anyone else has made a budget similar to this, for a similar point in their lives (well actually, for any point in life would be helpful since i'll need one for my Post 5 year plan aswell)

Or any advice for possible careers for well, college dropouts.

[BoogerFace]

[ QUOTE ]
Or any advice for possible careers for well, college dropouts.

[/ QUOTE ]

As a former college dropout, I'd recommend that you stay in school. Seriously, I don't think you'll find a 35k year job without a degree. Add rent/car payment/repairs/clothing/401k and the other things you are looking for numbers on and your nut is around 35k year (before taxes.)

I think it would be fine if you want to get into a trade (electrician, plumber, carpenter).

As a dropout, your carrer options are limited to telemarketer, waiter, admin (secretary), barista/casher, etc.

When you drop out of school, corporate employers are going to think you are a quitter. (Guys in the trades won't care.) My life sucked until I decided to go back and finish college.

If you think school sucks, it won't suck half as much as a crappy low-paying job.

[BradleyT]

Go read Rich Dad Poor Dad. There's a thread about it in the stock market forum.

[Exitonly]

Not to turn this into a college dropout thread, or a story of mym life, but i really just don't think college is for me, atleast at this point in my life.

I've never been able to focus and get work done, i just scrapped by in highschool (2.6GPA) and only graduated beecacuse it was an icnredibly small school (graduating class of 17 studnets, 170 total enrolled K-12) and i had gone there my whole life, so they just brushed it under the rug that i hadn't done a single assignment for Physics the whole year (but got my D). Only reason i got into college in the first place was because of my extra-curriculars (captain of all myy sports teams, which is not an accomplishment when you have 75 highschoolers, yearbook editor, etc) and SAT scores (1410).

Then when i got there (College of New Jersey, one of the better non-masters Public schools in the country) i couldnt get myself to attend .. anything.. and had a 0.0 GPA my first year. (It would have been around a 1.0, because 2nd semester i actually went to my pscyh class, but then got screwed when he accused me of plagerising when i didnt, and i had cited all my [censored], blah blah blah i get arrested for disorderly conduct blah blah 0.0 gpa and i'm kicked out) so now i'm at community college so i can go back to 'real school' but now i just wont get up for class.. i took the first tests for my 3 classes, got A's on them all, and havn't been back to class since and that was 3 weeks ago. I just won't wake up in time (and the earliest one is 12).

I can't get myself to go to class, and i don't really see a point in it all, i dont want to go to school just so i can go and work 9-5 somewhere for some one else.. i can't wake up for class how am i going to wake up for a 9-5 job.. plus i have a pretty big ego (but a wierd one, in that i'm really shy) so i'd have a problem constantly taking orders from a boss.

So yea, that's my rant about college, and why at this point in my life, i cna't get myself to go, and tahts why i'm looking at alternatives.