Real-Life Arkansas
Help Files
Click on any link below to get info on each topic covered.
About the Real-Life Arkansas Website
This website is designed to help students learn how much money they will need to earn in order to have the kind of lifestyle they may want in the near future. A student may want to live a simple non-materialistic life or one in which they have a house, an automobile and the latest high tech gadgets.
The website is meant to be done in a linear fashion. You will first select a city to live in and then select essential necessities such as: Housing, Utilities, Food, Transportation and Health Care. This is followed by non-essential items: Entertainment, Personal Care and Miscellaneous. Finally the last two pages deal with Savings and Student Loan Debt. A total of all expenses is then provided. The goal is to find careers that pay the annual salary needed to cover your expenses.
In the careers section,
you are able to narrow the list of occupations by education and occupation cluster.
The individual career profiles provide job description, salary information, working conditions, education and training,
and projected job openings.
Real-Life Arkansas is a product of the Arkansas Division of Workforce Services. Contact us at:
Arkansas Division of Workforce Services
Labor Market Information
Occupational/Career Information Section
P.O. Box 2981
Little Rock, AR 72203
Phone: (501) 683-0035 or (501) 682-3121
Fax: (501) 682-3186
E-mail: discoverarkansas@arkansas.gov
Go To Top of Page | Close Window
Selecting A City
Why do you have to select a city? Choosing a city will give you more detailed information for that area and will allow you to compare costs between different geographical locations. There are several Arkansas cities to choose from including small and large locations from all over the state. Simply click on the city of your choice and you will move to the next section.
Go To Top of Page | Close Window
Choosing Housing
A huge part of becoming an adult is being able to live on your own and support yourself. One of the biggest monthly costs most people encounter is that of housing. There are several options to choose from including low and high cost apartment living as well as home ownership. Although there are other options, such as purchasing a manufactured home, renting a house and others, the choices listed should give you a good understanding of housing costs in the area you select. For additional housing information, click on the links below.
Housing Information - www.zillow.com
Rent Information - www.HUD.org
Go To Top of Page | Close Window
Utilities Section
Many times young adults are not aware of the cost of utilities on a monthly basis; however, in order to have a functioning home, utilities are required. Energy such as electricity is essential in order to use any appliance in the home. Other utilities such as Internet access, cable TV are optional and can be selected or skipped. You decide if you want a land line telephone and a mobile phone or neither.
Go To Top of Page | Close Window
Food Section
Obviously, everyone needs to eat and people have many choices of what to eat. We have narrowed down the many possible food options into groups that are separated by either eating in, eating out or a combination thereof. The budget exercise will give you an idea of typical food costs for a sample month.
Go To Top of Page | Close Window
Transportation Options
Getting to and from work will be a challenge without transportation. One solution is to move near your place of employment. Most people, though, either use public transportation such as a bus (if available in the city you select) or purchase a vehicle.
When choosing a public bus, the amount listed on Real-Life Arkansas will be for 20 round trip fares or unlimited rides for one month. Cities that have no bus service will list a zero amount.
For auto options, select the vehicle that you like the most from the list provided. When purchasing an auto, other items should be taken into consideration, such as insurance, fuel, and maintenance. So, although, you may be able to afford the monthly car payment, you may not be able to handle the additional costs.
Sometimes the cars that are cheaper to buy are more expensive to own.
The information for the average cost for each type of vehicle was derived using Edmunds.com's True Cost to Own(TM) (TCO), a proprietary tool that helps estimate the cost of buying and owning a vehicle - including items most individuals do not take into consideration. Edmunds True Cost to Own takes eight factors into account: depreciation, interest on financing, taxes and fees, insurance premiums, fuel, maintenance, repairs, and federal tax credits for alternative fuel vehicles.
If you would like to find out the estimated cost of a particular car or truck model, visit edmunds.com.
Go To Top of Page | Close Window
Clothes Section
Clothing
is another item that everyone will need to purchase at one time or
another. The options shown may not be the style of clothing you prefer;
however, these are just sample pictures. Select the items that you like the most from the samples
provided or ones that cost about the same as items you like.
Go To Top of Page | Close Window
Health Care Options
Select Health Insurance I if the employer will pay for part of your health insurance costs. Select Health Insurance II if you want full coverage and your employer will not cover your costs. Select the doctor and/or dentist visits if you plan to pay per visit.
Go To Top of Page | Close Window
Personal
Care Section
The options listed should give you an idea of the things you will need to maintain your business, social and personal relationships. Some of the options may or may not apply to you, so simply select ones that you think you will be using.
Go To Top of Page | Close Window
Miscellaneous
These
are every day and big-ticket items that most people purchase throughout
the year. Typically you will not be able to pay for them right away
and may need to use a credit card or some other deferred payment method.
Select either the option you like or one that is closest in cost to
something you would like to purchase.
Go To Top of Page | Close Window
Student Loan Debt by Degree Type
If you will need student loans to finance your college education, you will have to consider what you will owe each month to pay off those loans after you graduate.
Real-Life Arkansas degree costs are calculated using tuition and fees from the U.S. Division of Education, National Center for Education Statistics, IPEDS. Student loan payments are based on 24% of total tuition costs at a 5.05% interest rate for undergraduate degrees and a 6.6% interest rate for graduate or professional degrees using a Standard Repayment Plan of 10 years.
Go To Top of Page | Close Window
Final Total Page
FINALLY! You are done buying all your stuff and now it is time to find out the total. On this page all the monthly items are multiplied by 12 months and this provides you with your total yearly expenses. After government taxes are added you then get your final, final total. The amount listed is how much money you would have to earn in order to pay for the kind of lifestyle you just selected. Now it is time to find a career that will pay you close to this amount. Simply click on the Find Career button and you will be on your way.
Go To Top of Page | Close Window
Where did the data come from?
The data amounts come from various sources. Use the Input Form above to Contact the Arkansas Division of Workforce Services for a complete list of all data sources.
Go To Top of Page | Close Window
|
|