Documente Academic
Documente Profesional
Documente Cultură
Kayla Cook
Mr. Edwards
17 May 2017
1
Job Outlook for the Currently there are 2,360,600 jobs as a building cleaner worker,
Next 10 Years however it is expected to grow by 6% (as fast as average).
What does the Janitors and building keep office buildings, schools, hospitals,
Profession Do? retail stores, hotels, and other places clean, sanitary, and in good
condition. Some only clean, while others have a wide range of
duties. In addition to keeping the inside of buildings clean and
orderly, some janitors and building cleaners work outdoors,
mowing lawns, sweeping walkways, and removing snow. Some
workers also monitor the buildings heating and cooling system,
ensuring that it functions properly. They use cleaning tools such as
mops, brooms, rakes, and snowblowers. Building superintendents
are responsible for maintaining residential buildings, like
apartments or condominiums. Custodians typically maintain
institutional facilities, such as public schools and hospitals.
What does the work Most janitors and building cleaners work indoors, but some work
environment consist outdoors for some of the time. They spend most of the day walking,
of? standing, or bending while cleaning. As a result their work may be
more strenuous, dirty, and unpleasant. Building cleaner workers
have a higher rate of injuries and illnesses than the national
average. Thus, workers are usually required to take safety training.
Most building cleaner workers work full time, but some may work
part time. Because institutional buildings are often cleaned while
they are empty, most cleaners work night hours. School janitors,
though, work through the day. In hospitals and hotels, where
24-hour maintenance is required, janitors work in shifts.
List one similar job to Pest Control Workers are similar to building cleaner workers in
the profession that they both are employed to maintain the cleanliness and
function of facilities, such as institutions, offices, and properties.
Pest control technicians identify pest problems, conduct
2
Related Activity: Find To become a building cleaner worker, there is no requirement for
a College With the any formal educational credential. However, high school courses in
Course of Study shop can be helpful for jobs involving repair work. Most janitors
and building cleaners learn on the job. Beginners work with a more
experienced janitor, and are taught how to use and maintain
equipment. It is not required, but one may be certified through the
Building Service Contractors Association International.
Certification can demonstrate competence and may make
applicants more appealing to employers. However, a building
cleaner worker could potentially attend class at Wake Technical
Community College and earn an associates degree to earn a higher
wage on the job. One could possibly earn an associates degree in
Hospitality Management at Wake Tech. Each course is $76 per
credit, and to earn an associates degree at Wake Tech, 60 credits
are required. So the total cost of education would be $4,560.
Job Outlook for the Currently there are 173,900 jobs, but this field is expected to grow
Next 10 Years by 19%, which is much faster than the average.
List one similar job to Market Research Analysts are similar to Industrial-Organizational
the profession Psychologists. Typically, they gather data to help a company
market its products or services. They gather data on consumer
demographics, preferences, needs, and buying habits. Similar to
I-O Psychologists, they collect data and information from
interviews, questionnaires, focus groups, market analysis surveys,
and other methods. Both I-O Psychologists and Market Research
Analysts perform research to help companies become more
productive and efficient.
Psychologist earns approximately $86,780 more annually than a Building Cleaner Worker.
Having a job as a Building Cleaner Worker would not only be more demanding economically,
4
but also physically because janitorial jobs are more arduous. Additionally, janitors are more
likely to have to work night hours, while I-O Psychologists primarily work office hours. Another
notable difference is the cost of education per career. I-O Psychologists will have to spend close
cleaner worker, no formal education is required, so there is not an extensive student loan that
needs to be paid off. According to the Bureau of Labor Statistics, there are more states offering
employment opportunities for janitorial careers. Employment for I-O Psychologists is more
limited, and primarily lies in Missouri, Virginia, New Jersey, Pennsylvania, and Massachusetts.
This could be another difference to keep in mind when comparing an I-O Psychologist career to
Car Debt
Picture of Car
APR 7.50%
Student Debt
Impact on Budget
The 2014 Honda CR-V LX that I chose to purchase is a used car. One of the reasons that
this car was chosen, was because it was a reasonable price for a fairly recently made car.
Additionally, it was large enough to be used by the entire family of 4, with 5 seats within the car.
Instead of buying a brand new car, this used car was chosen so that the monthly payment would
be less, and it would give the monthly budget more room for adding things like student loans,
mortgage payments, and credit card debt. Hondas are reliable cars, according to Forbes, and they
typically last as long as 332,357 miles. This would be ideal for a busy family of 4, with school
Things that would factor into the student loan payment would be whether or not I go on
in order to afford this schooling. Student loans also depend on what kind of federal loan the
student takes. Undergraduates can borrow a direct subsidized or direct unsubsidized federal loan,
with an interest rate of about 4.29%. Graduate or professional students can borrow a direct
unsubsidized loan with an interest rate of 5.84%, or direct grad PLUS with an interest rate of
6.84%. Lastly, a parent can borrow a loan at an interest rate of 6.84%. The different interest rates
The budget was definitely affected by the addition of car debts and student loans. Rather
than having a savings of $6,079.44, it was decreased to only $5,630.32. This shows the greater
impact that buying a car or getting a loan for college can have on a persons income. It is an
opportunity cost, because instead of keeping the money and taking the bus or finding other ways
to pay for the college, my income was decreased by $449.12. Thus it can be seen that additional
debts, change the way a person spends their money, and should be calculated when creating a
monthly budget.
Part 4: Mortgage and Credit Card Debt
The home I chose is 160 Locke Woods Rd, Raleigh, NC 27603. The home is located
right off a golf course, and features a jacuzzi and wrap around front porch. It also provides
heating and cooling, a two-car garage, access to a neighborhood pool and recreation center, and
0.37 acres of land. It is within 5 miles of highly rated elementary, middle, and high schools,
which is a benefit considering I have two young children. Because of the location and the homes
amenities, I found this home ideal for a family of four and for my monthly income of $8,714. It
wasnt only the qualities of the home made it attractive to buy; it was more practical to purchase
a home that I planned on living in for more than 30 years rather than paying a rental fee for as
many years that I stayed in the rental. The cost of the home is $339,999, which is unaffordable to
pay completely up front. Instead, I opted to pay a monthly mortgage of $1,844 over a 30-year
fixed period. I paid a down payment of $5,000 and my monthly mortgage included an interest
rate of 3.851%. Because I no longer have to pay the rent for my rental home, my monthly budget
was adjusted from the addition of my new mortgage. My monthly mortgage payment is only
$105 more than my rental fee for my old home was. So this change in finances allowed me to be
The Monthly Budget Calculator included the cost of renting a home, electricity, cell
phone cost, internet/cable cost, grocery cost, and water/utilities cost based off of a monthly
income of $8,714.17. Based off of my economic decisions towards those costs, I spent a total of
$2,634.73 per month, and saved $6,079.44 each month. This seems like a large sum of money to
have saved, but as the two spreadsheets will later show, there are other sources of debt that can
strain the budget. The two spreadsheets give a more realistic look at expenses that must be made
in many peoples lives. The first spreadsheet factors into the monthly budget a car debt. I
purchased a vehicle and had to pay tax, titles and fees for $950, a down payment of $597, and
then a monthly payment of $300 for 72 months. Then I decided to get a loan for my student debt.
In order to pay off my debt of $37,000, I decided to make monthly payments of $96.66 per
The second spreadsheet showed that I decided to purchase my own home. However, at
$339,999 my home was too expensive for me to buy considering my monthly income of
$8,714.17. So, I decided to pay a monthly mortgage of $1,844 per month for 30 years after a
down payment of $5,000. This was an opportunity cost I made, because I decided to purchase a
home rather than sticking to the cheaper rental and using the money to put towards savings or
credit card fees. Yet the mortgage, besides the original down payment, did not cost much more
per month than my original rental home did. The last item featured on the second spreadsheet
was my credit card debt. I needed to choose a credit card that best suited me in order to make a
$1,000 purchase. I had it narrowed down between the Discover Card, Chase Freedom Cash Back
Card, and BankAmericard Credit Card, because all three of those cards had no annual fees, but I
decided to go with the Discover Card because it had the lowest ongoing APR at 11.74-23.74%
and it offered 0% intro APR for 14 months rather than the first 60 days. I chose to pay off my
card by making monthly payments of $63.33 for 18 months, which didnt affect my budget
enormously in the end. By paying for all the same costs as the Monthly Budget Calculator
(except for the rental home) and by adding the car, student loan, mortgage, and credit card I
actually didnt face the troubles I had expected. With the exception of the down payments and
tax, title and fees for the cary, I still had $5,362.53 left saved after making these additional
Mortgage Information
Monthly $99.17
Homeowners
Insurance
Chosen Card Discover Card I chose the Discover Card because it had the lowest
ongoing APR at 11.74-23.74% and it offered 0% intro
APR for 14 months rather than the first 60 days.
Current Debt $1,000 It will take payments of $63.33/month to pay off the debt
in 18 months.
Impact on Budget
Annual Interest
Compounded Monthly 6.5%
Savings Account Number of Years 10
$5
Monthly Service Fee (can be avoided if the daily balance is
Wells Fargo maintained at a minimum of $300)
Way2Save Savings
Key Features Monthly Automatic Transfers of
$25 option
Overdraft protection for your
checking account
Transfer $1 of funds from checking
account to savings account
Chosen Bank Wells Fargo I chose to go with the Wells Fargo option
because the savings plan offers more
benefits that prevents overspending from
the savings account and contributes daily
amounts into the account that protects and
ensure savings in the future. Also, the
monthly fee of $5 can be avoided if the
account is maintained above $300. So, if I
initially put over $300 into the account and
do not take money from the account, over
time the account will gain interest and will
prevent me from having to pay extra fees.
The Personal Finance Literacy Profile Project was eye-opening, to say the least, about
real world personal financing and the time and thought that goes into accurately developing a
workable budget. It also showed me the strains that having a lower paying job can have on
simple expenses, such as groceries. With my low-paying job as a building cleaner worker, I had
to feed four people and pay for the additional amenities off of a $1,482/month budget. I would
not have been able to afford a car payment, credit card payment, and definitely not a mortgage
with that income. Even with a monthly income of $8,714 as an I-O Psychologist, I struggled with
having enough money in the end to put towards retirement. One thing that this project did not
require to budget towards, but in reality would be necessary, is schooling for my two theoretical
children. I would most likely have had to set money aside for their education, and there probably
could have been a need for me to put money towards their extracurriculars if a child did a sport.
introduced to the Bureau of Labor website, because it gave insight into the details of almost
every job imaginable in the United States. This will be very helpful to me in the future as I
investigate other possible future careers for me. The project was also beneficial for me to have
been able to see the amount of money that goes into car payments, mortgages, and credit card
payments. I didnt realize the amount of money it takes through APR, down payments, and
monthly payments in order to have access to those things. This project illustrated how important
it is to begin financing early. I needed to begin setting monthly payments aside at age 25 in order
to retire at age 65, which is a bit unbelievable. Im really glad that I was given this project,