Expenses. Purchased Housing Choices Mortgage Payment+ Property Tax= Total Payment House A Single...
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Transcript of Expenses. Purchased Housing Choices Mortgage Payment+ Property Tax= Total Payment House A Single...
BUDGETexpenses
Purchased Housing Choices
Mortgage Payment
+ Property Tax = Total Payment
House ASingle story; 25 years old; 1000 sq ft; eat-in kitchen; living room; 3 bedrooms;
1-1/2 baths; small lot
Price: $90,0005% down: $4,500
$580 $150 $730***
House BTwo-story; 50 years old; 1600 sq ft; kitchen and dining room; living room; 3 bedrooms; 2 baths; 1 acre lot
Price: $150,0005% down: $7,500
$933 $250 $1,183***
House CTwo-story; 3 years old; 2400 sq ft; kitchen/dining room; living room; 4 bedrooms; 2 baths; large lot; family room; storage building
Price: $200,0005% down: $10,000
$1,328 $300 $1,628***
Apartments
Rented unfurnished apartment—1 bedroom Newly refurbished, 1st floorDowntown, Full basement1 bath, all utilities paid$800/month
Rented unfurnished apartment—2 bedroom 1 bath, 1 car garage, washer/dryer hook-upnew appliances$1085/month plus utilities
Rented unfurnished apartment3 bedrooms1-1/2 bath, garagefenced in yard$1350/month plus utilities
Utilities
utilities include the following: electric, gas, sewer, water, and trash pick-up
Rates Adult only: $290/month Adult & children : $345/month
Renter: $170/month
New vehicle
Type of vehicle
Price Monthly payment
Gas cost Minimum maint.
Total monthly cost
Small car $17,910 $347 $130 $17 $494
Family sedan
$22,995 $445 $179 $17 $641
Mid size SUV
$32,394 $631 $221 $17 $869
Small pick up
$29,210 $568 $221 $17 $806
Used vehicles
Type of vehicle
Price Monthly payment
Gas cost Minimum maint.
Total monthly cost
Small car $2,991 $78 $130 $17 $225
Family sedan
$2,300 $56 $179 $17 $252
Mid size SUV
$8,000 $233 $221 $17 $471
Small pick up
$29,210 $140 $221 $17 $378
Public Transportation
Buy a bus or train monthly pass- go to website for prices
Insurance Rates
compact car- $110/month mid-size car- $100/month small truck- $100/month sport utility vehicle- $145/month
Or use www.allstate.com (enter zip code in the upper right hand corner, hit start, use the green box to the left to get a ballpark estimate without giving any personal info)
Home owner’s Insurance
House value- $90,000 $40/month House value- $150,000 $56/month House value- $200,000 $68/month
Renter’s Insurance
$30,000 contents value- $20/month $60,000 contents value- $30/month
Life Insurance (optional)
$50,000 Term Life $15/month
FoodAge group Thrifty
planLow cost plan
Moderate plan
Liberal plan
Family of 1 adult
$321.00 $407.00 $502.00 $629.00
For each child you have, add the figures below to the above amount
Child 0-5 yrs $85.00 $105.00 $130.00 $156.00
*Approximate costs for 1month of groceries
*The differences among the plans have to do with levels of variety of diet, number of dishes within meals, the kid and quantity of meat served and the number and variety of ready-made dishes.
Entertainment
Movie (includes popcorn and drink) $18/person Eating out $20/person Order pizza (delivered) $20/pizza Video or DVD rental $5/video Video or DVD from library FREE Netflix (unlimited) $18/month Concert $55/person Amusement park $42/person Walk in the park FREE Hobbies $30/month Party (food, beverages, decorations) $75/party Mini-vacation (3 day/2 night) $500/vacation
Contributions
• United Way—½% (.005) of your gross monthly salary.
• Faith community donation—national average is between 3% and 5% of gross monthly salary. Some may believe a 10% tithe is important
Communications
Please provide the cable company and package you have (if any) along with the price per month)
Also include your phone plan (include number of minutes and monthly costs)
Clothing
Annual gross income wages
Parent ChildrenAges 0-8 (each)
Less than $44,500
$70 $30
$44,501-$74,900
$130 $35
More than $74,901
$205 $45
Child Care
Infant $617/month (0-3 years old)
Pre-school $502/month (3-5 years old)
School age $471/month (>5 years old)
For each additional child- add $50
Credit Cards
Annual income
Credit card balance
4% minimum payment
Time to pay off Cost of interest
Total paid
$10,000-$20,000
$750 $30 6 yrs, 3 months $366 $1,116
$20,001-$30,000
$1,250 $50 8 years $667 $1,917
$30,001-$40,000
$1,750 $70 9 yrs, 1 month $966 $2,717
$40,001-$50,000
$2,250 $90 9 yrs, 11 months $1,266 $3,516
$50,001-$60,000
$2,750 $110 10 yrs, 7 months $1,566 $4,316
Over $60,000 $3,500 $140 11 yrs, 4 months $2,016 $5,516
Miscellaneous
Please feel free to add any other expenses that
you will encounter in your lifestyle…but make
sure it fits into your budget!!!!