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***This assignment utilizes Turnitin. When you submit this assignment to the as
***This assignment utilizes Turnitin. When you submit this assignment to the assignment drop box, it will automatically be submitted to Turnitin. You will receive an Originality Score along with an Originality Report that should be carefully reviewed. If revisions need to be made to your assignment, you will be able to submit your assignment up to five (5) times before the due date, and you will quickly receive updated originality feedback. It is important to plan ahead so that you have enough time to review your originality feedback and make any revisions to your assignment before the final due date. Please see instructions for using Turnitin in the Course Welcome module under Useful Resources.
***Students are responsible for checking uploaded submissions for the correct version. No resubmissions are allowed after the due date. Turnitin similarity indexes must be below 25%.If you are retaking this course, you will need to redo this assignment so that your Similarity Score is below 25%. If you have specific questions, please reach out to your instructor.
Turnitin Student Directions.pdf
NOTE: In the event you must submit your assignment AFTER the due date (with approval and consent of the instructor), please note the following:
Turnitin will only provide ONE attempt for originality feedback for late submissions.
Please refer to the Late Assignment Policy in the Syllabus for questions related to a request to submit a late assignment
Directions:
In this financial literacy assignment, you will research the starting salary as a licensed RN with your credentials in the area you hope to reside after graduation. Then you will create a budget based on your projected income. Finally, you will reflect on and summarize your research and budget calculations in a short essay. An example of this project and a student layout is available in the Unit 10 Module.
Please make sure to clearly label all parts of this assignment:
Part 1 Introduction:
Provide an overview of your research including the location of the job, job title, and salary information. To research your starting salary, consider using the information provided at Salary.com and Payscale.com. Local government hospitals may also publish this information on their websites. If you plan on staying at your current location and job, be sure to indicate this information in your reflection. Please make sure to cite your sources as you summarize your research.
After you have found your potential salary, set up your monthly budget using only 2/3 of your income to account for taxes and other deductions (called your net salary). For example, if you anticipate making $45,000/year, then 2/3 times 45,000 = 30,000. $30,000 / 12 = $2500. That is what you want to use for setting up a monthly budget. Provide this information in your overview.
Part 2 Table of Expenses and Graphical Representation:
When creating your budget, be sure to consider the following categories:
• Housing and living expenses (Rent/Mortgage, utilities, maintenance, etc.)
• Food
• Student loan payments
• Transportation
• Childcare (if applicable)
• Credit Card or other debt
• Car loans
• Continuous medical expenses
• Emergency savings
• Retirement savings
• Long-term goal savings (i.e.: buying a home, new car, education, etc.)
• Discretionary spending (Eating out, entertainment, etc.)
• Insurance
Be sure to note the net amount (Income minus Expenses) so you can see your balance each month in your table of expenses You will display this table in your results, as well a graphical representation of your budget using a circle chart, bar graph, or other relevant display.
The table and graphical representation MUST BE copied into your Word document. There should be only one submission. It is not necessary to submit your Excel file. Be sure to have all tables and graphs titled and categories labeled appropriately.
Please view the video in the module for help making your tables and graphs!
Part 3 Reflection:
Your essay should summarize the findings of your salary research and discuss the implications of your budget. The essay should be a minimum of 200 words. Be sure to put references in APA format. Academic Writer is the recommended guide for formatting resources. The following information should be included in your essay:
• Why did you pick this location and job?
• Were you surprised by your expected salary and income after taxes were deducted? Why or why not?
• What were some challenges in creating your budget? What surprised you?
• Were you able to set up an emergency/savings fund? Why or why not? How can you prepare for unexpected expenses?
• How can you apply these budgeting tools to your current situation?
Part 4 References:
References. Be sure to put references in APA format. Academic Writer is the recommended guide for formatting resources. There should be a minimum of two references.
Use Academic Writer, a tool the APA (American Psychological Association) created to help you learn, reference, and write in APA style.
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