Mathematics budget edited
Assignment topic: creating a budget with a starting salary of a new RN
Sources: 2 sources required
Citation Style: APA 7th edition
creating a budget with a starting salary of a new RN
I plan to settle in Seattle upon my graduation from the university. I’m pleased that a
registered nurse in Seattle in the United States earns around $95,120 per year. This is exciting,
especially for someone like me, who comes from a family that makes less than $100,000 in a
year. (Salary.com, 2022)
According to my projected annual income of $95,120, I plan to budget in the following
Accounting for taxes and other deductions, net salary = 2/3 * 95,120 = $63413 as net salary.
Monthly budget based on $63413/12 = $5284 (payscale.com, 2022)
Housing and living expenses
Continuous medical expenses
Long term goal savings
PIE-CHART REPRESENTING MY BUDGET
Long term savings
Housing and living
I picked Seattle as my ideal location since my grandparent once lived in Seattle, and
therefore I could connect with the plight of the people from Seattle and would sincerely love to
help them whichever way I can.
I was not surprised by the expected salary and income after tax deductions. It is common
knowledge that the federal government takes quite a sizeable percentage of gross income as tax.
Plus, both the federal and state taxes have to be remitted.
One of the challenges I faced in coming up with the budget was allocating enough money
for different expenses. The other challenge was prioritizing my expenses, such as house vis a vis
credit card debt repayment.
I set up an emergency fund to cater to unexpected needs such as illness of a family
member or even myself. I can always prepare for unexpected expenses by always having a good
credit score with my banks to shore up my resources in case I’m not able to meet unexpected
I can apply the budgeting tools in coming up with a priority list of the things I intend to
accomplish in my life and the things to prioritize given my financial situation.
Salary.com, S. (2022). Registered Nurse (RN) Salary | Salary.com. Salary.com. Retrieved 8
March 2022, from https://www.salary.com/research/salary/general/registered-nurse-rn-salary.
payscale.com. (2022). Registered Nurse (RN) Hourly Pay in Seattle, Washington | PayScale.
Payscale.com. Retrieved 8 March 2022, from