Phase 2
After university, I will start as a sales representative for Westfarmers. The Salary expectations will be between AU$38,525 and AU$69,480 a year with no overtime and car plus bonus for an exceptional performance. I am confident that my initial salary will be on the higher end because my qualifications in Engineering, Chinese, and Masters in Business. The job expectations are high therefore I will have to work long hours in order to be successful. I may need to work 11 hours a day for at least 5 days a week. It will take me 16 minutes to go to work at Westfarmers. This way I can maximize my time at work and home reducing the commute and traffic which is a time waster. Instead of buying a personal car, I will take the bus to get around the city for entertainment to save money. My attire for work will be to wear a West End suit that costs $249.50, a Country tie for $29.95, a Modern Spot Dobby Shirt for $129, and Reeves Laceup Brogue$344.25 dress shoes. The total cost of one set of work clothes will be $755. I do expect to have at least 5 days worth of clothes built up over time as I make money. My fixed expenses are rent, utilities and phone. My Variable expenses will be food, drinks, entertainment, and a bus pass. The first year out of university I will rent an apartment in Chatswood with friends. The apartment cost will be $850 per week split between my two roommates. My income and splitting expenses with my mates will allow me to be able to cover the rent and other fixed expenses. The place I will rent is an apartment that includes a pool, gym, electricity and water; therefore, the expenses are part of the rent and considered a fixed expense. I will participate in a men’s basketball league at Hornsby with games 3 nights a week. It will allow me to continue playing ball and staying in good physical condition. Our food will cost around A$12,000 dollars a year, so split it between 3 people will be A$4,000 dollars. Since rent is 15,000 dollars, food is 4,000 dollars and my opal pass will cost around a $1000 a year, I will have around 4,000 dollars after expenses left over. I will split the balance with 40% going into a Savings plan, 40% will go into an investment portfolio, and 20% into a short term investment for unforeseen or necessary items like hospital, entertainment, gifts or trips. Instead of travelling, my vacations will be here in Sydney at Manly beach. I will work extremely hard at my part time jobs in University to not require unsecured loans to repay university fees or start up costs when living on your own.