2. I will take time each year to vacation. I will try to take vacations over holiday weekends or things like that.
3. Annually on vacation, I hope to spend no more than about $500.
I.L.
1. Yes, I am willing to rent for four to five years after graduation.
2. I plan on purchasing my first house about five years after graduation. I will leave in that house for probably 10 years or so.
3. My dream house would be in the suburbs of Oklahoma City. It does not have to be a huge house, just moderate in size. Probably three bedrooms, 2 bathrooms, with just about half an acre of land. I want it to be a down to earth, normal home. A fireplace is not necessary. …show more content…
The house I found costs $200,000. If I save $250 a month I feel like that house is attainable. It is however, not presently attainable. In order to make it attainable, I will cut out money in other areas of my budget to put towards a down payment on a house.
I.M.
1. I plan to purchase a new car in about eight years. It will be a newer car. I will plan to buy a car that costs about $12,000. The monthly payment will be around a maximum of $100 a month. If I intend to buy a $12,000 car in eight years, I will need to save about $125 a month towards the car payment.
2. My current vehicle has right at 90,000 miles on it. I drive about 12,000 miles per year. It will take about seven more years for my vehicle to reach 175,000 miles. It will take a little over nine years for my vehicle to reach 200,000 miles. It will also take over 13 years for my car to reach 250,000 miles.
3. My current vehicle is paid off. My parents bought it for me in high school and they have since paid it off.
4. My car is currently paid off therefore, I plan to save for a new car on my own so I can purchase a new vehicle sometime in the future. …show more content…
I will review my expenses and compare them with my cash budget. I have reviewed my expenses and cash budget in the recent months.
5. I will pay bills when due. I do not pay bills right now, however. I have no bills to pay and no debt owed.
6. I will purchase life insurance for myself when I have a family and own different items like a house and car. The beneficiary will be my wife and kids. I will purchase enough life insurance to give them about a year of living expenses. I will purchase whole life insurance because the insurance premiums on whole life do not change. I will pay about $25 a month towards life insurance.
7. I will purchase health insurance for myself and then for my family when I have a family. I will pay about $100 a month for health insurance.
8. I will purchase car insurance. The projected cost per year is $1883.04 per year. This would be $156.92 per month. I am unsure if my company will insure the company car. I hope that they would. It would be very helpful.
9. I will establish a will when I own property and have property to my name.
10. I will not dine out in order to meet my cash budget. Since money will be tight, I will have to sacrifice and eat at home.
11. a. I will set my house at 72 degrees in the summer and winter. 72 degrees is the perfect setting for a