TFA Financial Plan Summer 2023— NY

Build Your Summer Financial Plan— NY

Build Your Summer Financial Plan— NY

People with Plans are 10x more likely to be successful. Make your Financial Plan for May 21 through August 31, 2023 so you can feel confident.


Steps: Fill in your total expected income, fixed, and flex expenses for the entire 3 month period from May 21 through August 31, 2023. Rounded estimates are your friend. Review your Plan Summary at the end of the sheet to determine if your plan will work or if any changes are needed. Make these changes to bring your plan into balance and write a brief reflection. Once you submit this form, you’ll have the option to download your responses as a PDF. Download the PDF and email it to your point of contact at Teach For America to unlock your summer stipend.


Example: Calculate the total needed for each entry for the whole summer. If rent is $1,325 per month, that’s $1,325 x 3 months = $3,975 for the whole summer.

About you

Name
Name
First
Last

All Income May 21 – August 31, 2023

Checking Balance • Stipend $5,000 • Transitional Financial Support • Need-Based Financial Support • Americorps $6,495 (Enrolled CMs, end of service). For more info, visit 2023 TFA Financial Support Overview
$
The amount you have available to use at the start of Institute.
$
$
Transitional Financial Support • Need-Based Financial Support • Don’t count the Americorps $6,495 as it happens at the end of service.

All Fixed Expenses May 21 – August 31, 2023

First & last month’s rent & security deposit: $4,500-$6,800
$
If you don’t expect to live in temporary housing, type 0.
$
If you don’t expect to live in permanent housing during Institute, type 0.
$
$
Electric, gas, water, trash, wifi, phone, etc (Estimate $475)
$
$
$
$
$
$
$
$
$
Delivery services • Music/video streaming services Other subscriptions

All Flex Expenses May 21 – August 31, 2023

Daily decisions and one-time expenses
$
Clothing/Shoes • Grooming • Household supplies • Personal supplies
$
Groceries
$
Restaurants • Delivery
$
Fun • Car downpayment • First month’s rent + downpayment • Flights • Furniture • Testing ($40) • School District Onboarding (Fingerprints) $99-235 • Moving expenses $300 • Self Care
$
Car repairs • Car maintenance • Gas • Rideshare • Tolls + parking

Plan Summary