Build Your Financial Future: Creating a Blueprint for Success

Chiyone Simmons, an architecture student at the University of North Florida, is taking the first steps toward creating a financially sound future. Under the guidance of Kevin Brown, a VyStar School Program Advisor, Chiyone embarks on a journey to master the basics of saving and investing, setting the stage for a successful career in architecture in Atlanta.

Passion for Architecture Meets Real-World Financial Planning

Chiyone Simmons' passion for architecture is easy to see. "I fell in love with the art of architecture," he said, with a goal of designing residential and commercial spaces. His ambition is to begin his career in Atlanta, a city bustling with modern architecture, which dictates a need for thoughtful financial planning.

Kevin Brown, a VyStar School Program Advisor, explained that Chiyone needs to consider many financial factors. "Today, we're actually going to sit down with Chiyone, and we're going to be very practical about a budget for what his lifestyle is now compared to what he plans for his lifestyle to look like in Atlanta," Kevin said. This advice will help Chiyone financially prepare for the increased cost of living.

A Reality Check on Living Expenses

In a simulation to project Chiyone’s financial future in Atlanta, Kevin outlines the components of a realistic budget, starting with an architect's starting salary of about $117,000. Accounting for deductions, it leaves an $8,000 net monthly income. Housing outside Atlanta's city center averages $1,600 monthly, with added expenses for insurance and utilities.

Other essentials include reliable transportation, estimated at $550 monthly, and $330 for quality groceries. Plus, personal expenses like clothing and dining out are capped at $500, reflecting practicality and restraint, especially in balancing Chiyone’s passion for collecting Air Jordan shoes.

Achieving Goals through Practical Financial Management

Chiyone's determination to take control of his finances is clear in his reflection on the exercise. "My greatest takeaway was getting a real-life example of what my life will look like in a couple years," he said. This simulation allowed him to see the real-world results of his spending and saving habits.

His financial education journey also offers valuable life lessons. Kevin states the importance of stability and self-reliance: "My hope for Chiyone is that he would be consistent with the goals that he has set for himself while he understands needs versus wants ... to secure that future for him.”

Giving Back: A Core Value

A value seen in VyStar's programs is the importance of community involvement. Chiyone acknowledged the community's role in his growth and expressed a desire to reciprocate. "I definitely want tp give back, just because just the community that poured into me, and I would also like to stay blessed by the Lord,” he said. Planning to allocate a portion of his income to charitable contributions adds a layer of fulfillment and responsibility to his financial planning.

The Path Ahead

Successfully navigating financial challenges today helps Chiyone pave a smoother path for tomorrow. Kevin's closing words capture the essence of the VyStar initiative: "The value of today's simulation was simply to elevate the mindset of Chiyone to help him to see that one, his dreams are very achievable. However, you have to have a practical plan in place."

Chiyone's experience provides a powerful example of how proactive financial education and realistic planning are essential for anyone setting out to achieve personal and professional aspirations. By exploring these avenues, Chiyone not only prepares for a promising career but also sets a blueprint for how dreams can be structured into attainable goals.

Update:

See how Chiyone has fared after participating in the VyStar Savings Challenge.