Independent Living Modeled with Stella

Abstract

You have graduated from high school and you want to live on your own. You are investigating different options for your living situation and expenses. There are several jobs you are considering and you must find one that will allow you to pay for all of your anticipated expenses without going into debt. The following model allows you to set up a personal budget based on how many hours you work a month and how much you make an hour. It also allows for overtime hours at a rate of time and a half. You include such anticipated expenses as housing, clothing, food, utilities, entertainment, phone, cable, and transportation. The graph and table allow you to see how much money you will have left each month for a year, given a specific budget set up by you.