Welcome to Alannah's After University Adventure. Walk with her as she discusses moving out, her career, bills, goals, activities, and more.
Slide: 2
Graduation!
Yay I did it!
Alannah has just finished her double degree at Griffith University. She walked across the stage, got her degrees, while her family beamed with pride.
Slide: 3
Contemplation
I need to spread my wings.
Now that she is done, Alannah thinks about what's next. At 21 years old, she decides its time to finally move out into the big, real world.
Slide: 4
Entry-Level Career
I love my job!
Not only is Alannah going to move out, but she is also starting her full-time job as an entry level business and communications coordinator. How scary. She's excited because she gets to interact with people and make a real difference while also showcasing her talents and passion.
Slide: 5
Dance Teaching
Along with her day time job, Alannah still continues teaching dance as an extra source of income and a safety net. She teaches junior dance classes in the afternoons, evenings, and weekends, as she enjoys it and it is one of her main passions. With these two sources of income, she will be earning $76,858.4 after tax including her dance teaching.
Slide: 6
Personal Goals
What do I want to do with my life? What do I want to achieve?
Alannah sits and thinks about her big life plan, now that she is moving out. With so many big life decisions and so much change, what does she want to achieve in the future?
Slide: 7
Open Elite Seniors at Dance
Alannah decides that she still wants to continue dancing and achieving high results, especially in APDA and BJP Physie. These activities do cost money, but her passion for dance triumphs the class fees, registration, and competition attire. Her job is also in a financially freeing area meaning that she is able to afford to pursue her dreams.
Slide: 8
Staying Active
She also wants to continue to stay physically active as this is beneficial for her mental and physical wellbeing, which she will aim to do by taking walks along the Gold Coast, her home, and doing Pilates/going to the gym. Alannah has been very careful in calculating these extra costs when planning her finances, making sure that she is not in a defecit.
Slide: 9
Responsibilities
Being an adult is hard!
Moving out of home is a big responsibility. It takes a lot of maturity and independence, which Alannah thrives off. She is a very organized person, constantly making lists and preparing her Google Calendar. Alannah takes a moment to consider the large responsibilities of living out of home.
Slide: 10
Bills
Bills are a large responsibility once you move out. Alannah decides this is her largest responsibility to take care of. To make sure she stays on top of payments, she will set reminders into her phone to remind her to pay her water, rent, electricity, and mobile phone bill, as well as insurance for her home, health, and car. She also makes sure to include this in her budget, where she will add money to an account every fortnight to make sure she is responsible with her money.
Slide: 11
Take Care Of Her Home
Along with bills, Alannah also needs to maintain her home. She is responsible for her cooking, cleaning, and general upkeep of her living space. She has decided to create a schedule for designated house cleaning jobs, such as vacuuming, mopping, cleaning up, and full house resets. By following this schedule, Alannah is making sure that her space is livable and not cluttered, which she needs in able to focus.
Slide: 12
Housing Options
Where should i live??
Now that Alannah has prepared her finances, career, goals, and responsibilities, she needs to find a place to live. She does some research across realestate.com and other platforms, trying to find what housing accommodation is best for her.
Slide: 13
Renting
Alannah's first option is a 2-bedroom, 1 bathroom apartment for rent at 8/39 Coolangatta Road, Coolangatta. It's listed for $650 dollars a week, and she plans to get a roommate to reduce rent to $325 each. It has a modern kitchen, air conditioning, parking, and is very close to shopping centers, public transport, the beach, and her family.
Slide: 14
Pros and Cons
She thinks about this option. The advantages of living here include increased flexibility and ability to relocate easier, lower upfront costs (only 2 weeks of rent prior), no maintenance costs, and is in a convenient location. She also researches median rent for a 2-bedroom unit, and the property is $100 under which is attainable for a fresh graduate. Although there are many upsides, she also considers the downsides, such as the potential for rent increases, no equity, and less control on renovations, pets, and other factors.
Slide: 15
Buying
Another option is to buy a home. Alannah has found a 3-bedroom, 2-bathroom house on Seaview Street, Tweed Heads South. It's listed for $800,000 and features good views, lots of space, car spots, under house storage and rumpus, and easy access to shops, the Gold Coast Airport, Tweed City, and the M1.
Slide: 16
Pros and Cons
There are big advantages to owning a property, including higher stability, more freedom to renovate/personalize the home, own pets, and every mortgage payment contributes to property ownership. Despite these advantages, there are higher upfront costs and more ongoing costs such as mortgage, council rates, maintenance, stamp duty, legal fees, and more. There is also less flexibility as it is harder and more expensive to move if circumstances change. The property is also not in a prime location as houses in more conenient locations are higher in price at an average of $990,000.
Slide: 17
Final Decision
YAY! I'm going to rent!
Alannah decides that renting is the better option for her. It is cheaper than owning a house and comes with less responsibilities for a young adult at 21. Renting also fits into her budget better, allowing her to have more flexibility to do the things she enjoys and spend money elsewhere. She also does not need a big space as she is young, wanting to travel, and is not starting a family soon. As Alannah is also just starting her career, her salary is not at its peak meaning that it's safer to choose the financially responsible option of renting with a roommate.
Slide: 18
What next?
Me too.
I'm excited for what's to come.
Now that Alannah has finished her after-university adventure, she sits back and thinks about the future. She doesn't know where she will be, what she's going to do, but she knows that whatever adventure comes next will be just as exciting as this one.
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