Roberts1

Olivia Roberts
Herbert
English 12 - Period
5 September 2016
Financial Plan
The future is a scary thing to think about. Most of us teenagers live in the moment during high
school, and by the time senior year is here, most of us feel overwhelmed. I plan on going to Northern
Arizona University in Flagstaff, Arizona and working as an Aesthetician to get myself through school.
There are many housing options when choosing to go to college. However, my parents live in
Chandler so their house is not an option anymore. I narrowed it down to two- on campus dorms and an off
campus apartment.
When it comes to living on campus, it is pretty simple. I will have to pay $13,646 in one year for
dormitory fees and a meal plan. Nau has various different residence halls, some including a co ed
community involved, and another being an all female more quiet dormitory. No matter what I think there
would be a good fit for everyone. Some pros of living in a dorm would be getting to meet people, and
being close to campus.

Roberts2

Morton / Campbell Freshman Dormitory

Of course almost all college students would prefer to live in an off campus apartment. When it
comes down to it, an apartment close to school would be a little over $5,000 a year if you had a
roommate. The amenities of the Canyon Springs Luxury Apartments include a 24 hour fitness center, hot
tub, billiards, clubhouse, assigned parking, cable, high speed internet access, and more. The pros of living
in an off campus apartment would be I would be having the experience of being independent.
I have compiled some data into a few charts to compare the different living options. This will
help me decide which is best for me.

Housing Expenses for 12

On Campus

Apartment

$9,482

$8,550

Months
Rent ( 1 Roommate)
Utilities

$100

Food

$4164

$4,000

TOTAL

$13,646

$13,130

I have figured out that these two options are very close in price with each other all in all.
However, it looks like living in an apartment would be slightly cheaper. It might be slightly off
considering you would have to add in things like entertainment, clothes, eating out, etc. but it is fairly
accurate.
I think I would personally do better living in an apartment because I am very independent and
would love to experience living on my own. I think this would be more difficult however, because I
would have to budget myself accordingly and make sure I stick to that budget which would be pretty
challenging considering I have never done that. I would be able to have the college education and also the
education of life as an adult. It would be a baby step to living in a house with a family, which I would do
after college. I do not think I would do well living in a very small dorm, having meal plans, etc.I do think
I could do live in an apartment successfully, with one roommate.
During college I will have a really amazing source of income. Since I am doing EVIT this year, I
will be able to work as a licensed Esthetician to get my way through college. As an Esthetician I will

Roberts4
make approximately $35,000 a year. My parents would also help me out with school and be
giving me about $15,000 a year. I think I would have no issues paying for an apartment, but would
obviously need some assistance paying for tuition, books, etc.
I have compiled all of my expenses with all of my income. This will help me to create a budget
that will plan out where all of my money will go towards.

Item

Expense

Tuition / Fees

$10,746

Books / Supplies

$1,000

Room / Board

$9,482

Computer Expenses

$1,500

Car / Transportation

$3,500

Cell Phone

$1,000

Entertainment / Eating Out

$1,800

Personal Expenses

$2,000

Travel

$5,000

Misc.
TOTAL

$43,896

ITEM

INCOME

Job

$35,000

Parents

$15,000

Student loans

$10,000

Scholarships

Savings

$5,000

Gifts

$2,000

Other
TOTAL

$67,000

I think doing EVIT my senior year will really help my financial situation in college, I wont have
to work minimum wage jobs like most other students and will be able to provide fairly well for myself.
This being said, I have more income than I do expenses. I will be off pretty well in college. This
assignment has opened my eyes as to how many things need to be paid for, and what an adult life entails.
Being an adult has a lot of responsibility and expenses that comes with it.
Overall, I have learned that yes growing up is scary. However, if you sit down and plan out your
budget accordingly, it cant be that bad. I learned I need to be careful on my spending and always make
sure I am saving a portion of my income. In the next year or so, I feel like I will be more prepared to take
on life as an adult because of this exercise.

Works Cited

Housing and Residence Life. Morton/Campbell, http://nau.edu/residence-life/housing-options/residencehalls/morton/campbell/.

Canyon Springs Luxury Apartments |. Canyon Springs Luxury Apartments,
http://www.canyonspringsflagstaff.com/.
https://www.cox.com/residential/internet.html?
sc_id=lfo_sem_goog_hsi_gen_z_brnd_norlsa&ca.cr=97895521102&ca.kw=cox%20internet
%20plans&ca.mt=e&ca.mp=google&cb.device=c&srchcampaign=google+corp+-+general+branded++arizona+-+exact&srchkw=cox+internet+plans&ds_kid=43700006738702608&gclid=cj0keqjw0rmbrcn85bm8us-zk0beiqaho4vrkh_fmwg-nkbxsxatkrzasl7rtiqfihio9nkpji13euaalds8p8haq&gclsrc=aw.ds.