My educational goal is to receive a Masters Degree in Economics.

First, I need to
receive a Bachelor of Arts. I would like to attend UBC to achieve the goal of a
Masters Degree. Here are the expenses I anticipate in these six years of education:

Annual Recurring Expenses for First 4 Years

Type of Expense Cost
Cost of undergraduate education at UBC per annum: $7,827
Tuition: $4,890
Mandatory Fees: $917
Books/Supplies: $2,020
Data provided by careercruising.com
Cost of Accommodation as an undergraduate student at UBC: $5,214.00
On-campus housing: $5,214.00
Utilities are included when living in on-campus housing
Data provided by UBC Financial Planning Calculator
Cost of food as an undergraduate student at UBC: $5,495.28
Meal plan is mandatory for first-year students at UBC:
$5,495.28
Data provided by UBC Financial Planning Calculator
Cost of transportation: $492
I plan on using public transit and a bicycle
Mandatory U-Pass membership: $492
Cost of clothing: $240
I dont buy clothes very often. Assuming I buy:
o 2 shirts per year for $40 total
o 2 pairs of pants per year for $50 total
o 6 pairs of underwear per year for $20 total
o 6 pairs of socks per year for $20 total
o 1 pair of shoes per year for $70 total
o Other items of clothing (hat, scarf, etc.) for $40 total
Cost of Entertainment: $100
Internet and television costs are included in housing costs
I dont attend events and venues often, so I might pay $100
yearly
Cost of Health and Personal Care: $740
BCs MSP is costs $600 yearly
Toiletries, haircuts, and personal care would cost me $140 per
year
Total Expenses per year: $20,108.28
 One-time Expenses for Undergraduate Studies
Type of Expense Cost
University Application Fee (for Canadian Transcripts): $280
SFU: $90
UBC: $100
U of T: $90
I would like to attend UBC, but in case I am not accepted, I have a few
other universities as backup.
Cost of Transportation: $400
Cost of bicycle & lock: $400
Cost of Entertainment: $750
A laptop would last for 4 years, costing $600
My current cell phone meets my needs, and would last for 4
years, costing $150

Cost of Health and Personal Care: $30

Towels would cost $30
I already own other personal care items (nail clippers, comb,
etc.)
Total One-Time Expenses $1460.00

In total, I will spend $81,893.12 on the first four years

of education to attain a bachelors degree in economics.
 Annual Recurring Expenses for Graduate Studies
Type of Expense Cost
Cost of graduate education at UBC per annum: $7,739
Tuition: $4,081.80
Mandatory Fees: $917 (no data assuming same as bachelor)
Books/Supplies: $2,020 (no data assuming same as bachelor)
Data provided by UBC Vancouver academic calendar
Cost of accommodation as an graduate student at UBC: $10,800
I plan to live with a roommate outside of UBC due to the
shortage of housing at UBC, costing around $900 per month
Utilities such and communications fees would be included at
that price
Data provided by Craigslist
Cost of food as a graduate student at UBC: $5,200
Assuming I cook like my dad does, I would be paying about
$100 per week to feed myself
Cost of transportation: $492
I plan on using public transit and a bicycle
Mandatory U-Pass membership: $492
Cost of clothing: $240
I dont buy clothes very often. Assuming I buy:
o 2 shirts per year for $40 total
o 2 pairs of pants per year for $50 total
o 6 pairs of underwear per year for $20 total
o 6 pairs of socks per year for $20 total
o 1 pair of shoes per year for $70 total
o Other items of clothing (hat, scarf, etc.) for $40 total
Cost of entertainment: $850
Internet and television costs are included in housing costs
I dont attend events and venues often, so I might pay $100
yearly
Cost of health and personal Care: $140
BCs MSP costs $600 yearly
Toiletries, haircuts, and personal care would cost me $140
per year, assuming:
Total Expenses per year: $25,461
 One-time Expenses for Graduate Studies
Type of Expense Cost
Cost of Transportation: $400
Cost of bicycle & lock: $400
Cost of Entertainment: $750
A laptop would last for 4 years, costing $600
My current cell phone meets my needs, and would last for 4
years, costing $150

Cost of Health and Personal Care: $30

Towels would cost $30
I already own other personal care items (nail clippers, comb,
etc.)
Total One-Time Expenses $1180.00

In total, I will spend $52,102 on my last two years of

Education to attain a masters degree in economics.
Income
Income for First Four Years of Studies
Type of Income Amount
Parental contributions to RESP is expected to amount to: $ 71,225.12
Parents contribute $2500 per year for 16 years
Government contributes $500 per year for 16 years
Compound interest of 4.5% per annum
Assuming I work 8 hours per week at a wage of $12.00 per hour for $16,896
44 weeks, 4 years in a row:
Assuming I work 20 hours per week at a wage of $12.00 per hour for $7,680
8 weeks during the summer, 4 years in a row:
Previous savings from high school work: $10,584
Before Grade 9: $600
Grade 9: $0.00
Grade 10 (6 hours per week @ $12/hr): $3,744
Grade 11 (5 hours per week @ $12/hr): $3,120
Grade 12 (5 hours per week @ $12/hr): $3,120
Assuming I dont receive any other forms of income or receive any $0.00
scholarships.
Total Income for 4 Years: $106,385.12
Expenses for Four Years: $81,893.12
Remaining Balance: $24,492.00
 Income for Last Two Years of Studies
Type of Income Amount
Remaining Balance from before: $24,492.00
Assuming I work 8 hours per week at a wage of $16.00 per hour for $22,528.00
44 weeks, 4 years in a row:
Assuming I work 30 hours per week at a wage of $16.00 per hour for $15,360.00
8 weeks during the summer, 4 years in a row:
Assuming I dont receive any other forms of income or receive any $0.00
scholarships.
Total Income for last two years: $62,380.00
Expenses for two years: $52,102.00
Remaining Balance: $10,278.00

Rubric
Did you identify your career goals: 1/1 I want to become an economist, meaning I
will need to attain a Masters Degree in Economics.

Did you realistically estimate the financial costs of pursuing your identified goals? Did
you list a range of specific costs? 12/12 I listed a variety of different costs for
education, including everything mentioned on the assignment and more.

Did you identify sources of support? 2/2 I listed two/three sources of support my
savings, my part-time earnings, and an RESP from my parents.

Did you describe a range of realistic and relevant short- and long-term strategies for
funding your education and career goals? 15/15 My goals were relevant to the
career path I want to take and were achievable within the specific time frame.

Did you identify potential challenges to funding goals and ways to meet these
challenges: 5/5 The challenges listed are realistic and so are the ways to overcome
those challenges.