Once you move out of Mom and Dad’s house, you’re going to need to make a budget. List your fixed monthly expenses (food, rent, transit, etc.) – that will provide a baseline for what you need to survive. To figure out how to fund your lifestyle, you will need to estimate your earnings. Check out earnings for employees in different industries, and start making some career moves!
Our sample budget is local to the northeastern Wisconsin area, designed to give you an idea of some costs. Every person’s budget will be different based on wants and needs. Some might have car loans, insurance and fuel to pay for instead of public transit, for example. If you factor in your savings and retirement planning (you want to retire someday, right?), you will have an even more solid financial plan when it comes to your desired lifestyle.
The salaries and monthly earnings (before taxes) shown here reveal that some high-demand jobs require only two years or less of post-secondary schooling and offer comfortable wages that will allow you to save for bigger expenses (like a car or a home).
Compared to lower-wage service industry positions (see list), which often have night and weekend hours and lack health care or paid time-off benefits, a career in manufacturing becomes even more appealing.
Get earning!
Monthly budget for a single person
Average rent for a 900-square-foot apartment $755
Utilities (heat, electricity, gas, basic repairs like air conditioning repair, etc.) for one person in studio apartment $111
Internet/phone $45
Monthly public transit $30
Gym membership $26
Groceries & personal care $278
Dining out & entertainment $185
Total monthly expenses $1,491
(Source: Expatistan, cost of living estimates for Green Bay)
Salaries for growth areas in manufacturing that require an associate degree or technical diploma
Electrical Engineering
Sample job titles: engineer, electrical engineer
Median annual wage: $53,643
Monthly earnings: $4,470.25
Industrial Maintenance Technology
Sample job titles: maintenance technician, HVAC installer
Median annual wage: $53,426
Monthly earnings: $4,452
Automation Systems – Robotics
Sample job titles: field service technician, automation technician, electromechanical tech
Median annual wage: $48,000
Monthly earnings: $4,000
Tool & Die Making
Sample job titles: machinist, mold making apprentice, owner, tool and die apprentice, toolmaker
Median annual wage: $37,437
Monthly earnings: $3,120
Automotive Technologies
Sample job titles: automotive maintenance technician, auto service technician, master technician, mechanic
Median annual wage: $28,702
Monthly earnings: $2,392
(Source: NWTC GRADUATE FOLLOW-UP REPORT, 2015-’16)
Salaries for service industry jobs
Restaurant Cook
Median annual wage: $22,370
Monthly earnings: $1,864
Retail Salesperson
Median annual wage: $20,530
Monthly earnings $1,711
Hotel Desk Clerk
Median annual wage: $20,370
Monthly earnings $1,698
Fast Food Maker
Median annual wage: $18,480
Monthly earnings $1,540
Waiter
Median annual wage: $18,330
Monthly earnings: $1,527
(Source: Career Cruising)
