Informative Speech Outline

Household Budget In preparing our household budget, it was a bit surprising that we have such a small surplus after expenses. Many of our expenses, such as medical/dental/vision insurance, 401k contributions, and contingency savings are deducted prior to the net income calculation. When taking in the entire financial picture, we are doing well. Yet, I really believed that we had more of a monthly surplus. Any career change will have an impact on a household budget. Many factors need to be identified, like commuting time and expenses, increased or reduced salaries, elected optional benefits, and additional incidentals. Most often, one would change careers to increase their income, but sometimes they will do so as a stepping-stone to a better quality of life. Furthering one’s education will most always have a positive impact on the budget as better opportunities. There is a financial and time commitment to any educational experience, yet by continuing your professional development, you are telling employers that you have set goals, and worked to achieve them. This translates to being more appealing to prospective employers and/or appearing as a better candidate for career advancement. With career advancement comes increased income. As I am in the sunset years of my career, my careers are a bit different from those of my younger classmates. My husband and I look to retire thereby reducing our overall income. Yet, we may choose to supplement our pension and 401k distributions, taking on new career options, though at a much slower pace, less responsibility, and less salary. This we would most likely do as a bridge until we are able to access social security.

Household Budget | Monthly Net Income: | 8,942 | | | | | | | | | | Monthly Expenses: | 5,690 | | | | | | | | | | Total Monthly Surplus | 3,252 | | | | | | | | | | | | | | | | | | | | | Financial Commitments | 2,300 | | | 40% | | Education/Health |