Each of you will be responsible for keeping records of your own personal budget, paying all your individual expenses, and balancing your checking account.
Your grade will be determined by the amount of GROSS INCOME you earn during the grading period this system is in operation. You will be paid a regular wage of $13.69 per hour (Kitsap county's current minimum wage), plus a commission amount related to your assignments, class activities, and test grades.
Everyone will have an opportunity to earn an "A" grade. The easiest way to do this is by attending class regularly, turning in assignments/projects on time, doing well on any tests, and by participating in classroom activities.
Each block class period will be considered 16 hours of pay and Wednesday schedule will be 8 hours of pay. You will be given 1 day of sick leave for each "month" the payroll system is in operation plus 1 day of personal leave (6 days this semester). Additional non-school-related absences will be unpaid days off.
You can increase your weekly earnings by qualifying for a raise in pay. Students who have all assignments turned in at the end of each month will receive $.10/hr raise. For example, if a student has turned in all work due between Sept 1st-30th then they will earn $13.79/hr instead of $13.69.
Taxes & other Automatic Pay Deductions
Federal taxes, social security, and medicare will be automatically deducted from your paycheck. I will be using paycheckcity.com to calculate all pay. This should make paychecks as close to realistic as possible.
Insurance will also be automatically deducted at a fixed rate of $160.24 ($138.45 medical and $21.79) per paycheck. This may sound like a large amount but as of January 1, 2021, if you are a single man, born in 2002, and have a household income of 40,000/yr. this is the lowest cost (and coverage) of all plans available in Kitsap County according to www.wahealthplanfinder.org. FYI, at $13.69/hr, you would actually qualify for our low-income insurance, Apple Care, according to the state of Washington but we are going to go higher with the annual income estimate just to show you what it would look like to your budget if you had to cover your health insurance.
- Washington medical plans: $138.47-$151.90/mo. (Kitsap) w/$6,000-$8,300 individual deductible depending on the chosen plan (that is out-of-pocket before insurance kicks in). You got the lowest premium available but that incurs the highest deductible.
- 2021 - the average cost for a male in Oregon: $113.00
Bi-Weekly Budget & Bills
Each pay period (bi-monthly) you must prepare a deposit slip for your paycheck, write a weekly budget, and write checks to pay the following bills:
- $700.00 Spartan Apartments - This provides a 783 sq. ft. one-room apartment in Bremerton. For comparison, median rent for a one-bedroom in: Bremerton $1,350, Bainbridge $1,400, Seattle $1,650, Bellingham $1,150, Spokane $1,191, and Pullman $750.
- $62.50 Kitsap Credit Union for your car payment ($8,000 car, 6 years pay off, 3% interest)
- $50.00 Car Insurance
- $50.00 Puget Sound Electric
- $100.00 Any local grocery store
- Tragedy/Bonus card directions
Reality check: This is $1,925 in bills plus two tragedy/bonus cards a month. For a full-time job, at an hourly pay of $13.69, you would earn $2190.40 before taxes, estimated after-tax income would be $1,927.55. Therefore, you would have just enough for basic bills, this does not include tragedy/bonus amounts possible. Also, these bills do not include extras like cell phones, wifi, any sort of tv (cable, Netflix, Hulu, etc), gas for the car, ferry tickets, clothes, entertainment, etc.
By working full-time (40 hrs. a week) at $13.69/hr, you would earn between $28,475.20 a year with no vacation at all during the year and did not take any unpaid sick leave. This puts you in a 12% tax bracket for 2021.