If you're seeing this message, it means we're having trouble loading external resources on our website.

If you're behind a web filter, please make sure that the domains *.kastatic.org and *.kasandbox.org are unblocked.

Main content

Licensed clinical social worker: My budget and planning for the future

How much does a social worker make? Can you afford to pay off student loans? A licensed clinical social worker shares her budget and how she is paying off loans while saving for retirement.

Want to join the conversation?

Video transcript

So, my name is Evony Cooper. My job title is that I'm a licensed clinical social worker, and my salary is $48,000 a year. I don't have to worry, really, about money. I keep track of where my money goes, when it's really important, and just make sure that my bills are paid. Some general concerns with my finances are probably my student loan payments, and making sure that I can still save for retirement. So, my monthly income, pre-tax, is about $4,000, but after taxes, payroll deductions, union dues, and a 403B, which my company does three percent match for, my take home pay is actually $2,500. Rent is $1,100. Gas and electric, $50. Internet, TV, 50. Phone, 85. Car, which includes gas, car payment and insurance, is 300. Student loans, 350. Food, 200. Other recurring expenses, like my dog, and gym membership, that's $65. And entertainment is a hundred. So, leftover funds, that go into my savings is about $200.