Are your expenses greater than your earnings? If so, you either need to cut back on your costs or earn more money. How much money do you need to make to have the life you want? How much education do you need to earn that much money?
<fcel> 1. Housing a. 600 b. 900 c. 1,200 d. 2,000
Miscellaneous Expenses
386 Utilities (electric, water, sewer, gas, cable and internet)
200 Gas
<fcel> Savings It is best to save at least 10% of your income
<fcel> Other (credit cards, etc.)
<fcel> Total Monthly Expenses
*The amount of money you borrow for school will depend on many factors, including the number of years you attend school, the degree you obtain, the school you attend, your financial need and other financial aid received.
Find the level of education you selected on question 8 on the chart below to see your monthly pay before taxes.
Monthly Median Earnings by Educational Attainment - Kentucky
High School, No Diploma $3,000
High School Graduate $4,130
Degree $7,967
Doctoral Degree $9,871
Professional Degree $9,974
Associate's Degree $4,763
Bachelor's Degree $6,680
Some College $4,580
Source: U.S. Bureau of Labor Statistics. 2025
Find the monthly median earnings for the level of education you plan to obtain in the chart above. Now subtract your total monthly expenses to find out how much money you'll have at the end of each month. If you don't have enough money to cover your expenses, you'll need to adjust your lifestyle or your career path.
Earnings $
- Expenses $
= $
**Positive amount? Congratulations! You're living below your means and are on your way to responsible money management.
Negative amount? Try again. This time reduce costly options and choose to get the education you'll need to afford the lifestyle you want.
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