PERSONAL FINANCE PROJECT

Darian Davidson & Vanessa Young

CAREERS

Vanessa

Career: Google HR Analyst

Annual Salary: $75,000.00

Annual Federal Taxes: $20,668.75

Total Annual Income: $54,331.25

Total Monthly Income: $4,527.60

Darian

Career: GM Innovations Business Analyst

Annual Salary: $78,000.00

Annual Federal Taxes: $21,648.25

Total Annual Income: $56,351.75

Total Monthly Income: $4,695.98

Total Household Income

Annual: $110,683.00

Monthly: $9,223.58

VEHICLE INFORMATION

Vanessa

Year, Make, and Model: 2013 Chevy Cruze

Number of Miles on Car: 51,567

Cost of Vehicle: $14,000.00

Dealership: Covert Hutto

Loaning Bank: Paid Cash

Interest Rate of Loan: n/a

Length of Loan: n/a

Monthly Loan Payment: n/a

Darian

Year, Make, and Model: 2013 Kia Optima

Number of Miles on Car: 30,000

Cost of Vehicle: $17,000.00

Dealership: Covert Hutto

Loaning Bank: Paid Cash

Interest Rate of Loan: n/a

Length of Loan: n/a

Monthly Loan Payment: n/a

RENTING INFORMATION

Address: 12100 Metric Blvd

City: Austin State: TX Zip: 78758

Rental Agency: Venterra Reality (Chez Moi Apartments)

Monthly Rent: $1,194.00

Utilities Included: none

Utilities Price: $230.00

Total Monthly Apartment Cost: $1,424.00

AVERAGE MONTHLY BUDGET

Rent: $1,262.00

Utilities: $230.00

Cell Phone: $100.00

Groceries: $600.00

Student Loans: $917.54

Auto Insurance: $500.00

Health Insurance: $398.00

Home Insurance: $30.00

Life Insurance: $260.00

Savings: $1,800.00

Cats: $50.00

Dining Out: $100.00

Entertainment: $40.00

Home Improvement: $50.00

Shopping: $300.00

Donations: $65.00

Medical: $0.0o

Auto Expenses: $140.00

Kids Toys: $70.00

Monthly Income: $9,223.58

Interest: $17.54

Total Monthly Debits: $ 5,132.54

Total Monthly Credits: $9,241.12($94,121.12)

BABY EXPENSES

Average Monthly Cost

Groceries $200.00

Eating Out $0.00

Clothes $150.00

Babysitting $0.00

Toys $50.00

Home Improvement $20.00

Health Insurance $199.00

Life Insurance $130.00

Total: $749.00

One Time Cost

$17,922.00

( for twins before divorce )

INTERESTING MONTHS

Month One

MONTH ONE

Monthly Income $9,223.58Interest $18.66Previous Savings $91,530.00

Total Income Balance$100,772.24

Rent/mortgage 1 $1,262.00Utilities 1 $230.00Home Improvement $50.00Cell Phone$100.00Groceries$600.00Shopping$220.00Auto expenses$140.00Student loans $917.54Credit cards $0.00Auto Insurance$500.00Dining Out$100.00Health Insurance$398.00Home Insurance$30.00Life Insurance $260.00Entertainment$30.00Pets

$50.00Vacation

$0.00Donations $5.00Medical Expenses$12,040.00Surprise Event$1,000.00

Previous BalancesPremier $81,530.00Money Market $10,000.00Membership $0.00IRA $0.00A+ Checking $0.00

Ending BalancesPremier $70,330.00Money Market $10,700.00Membership $50.00IRA $100.00A+ Checking $1,659.70

Ending Total Balance $82,839.70

Events:Twins (-$12,000)Took out of the Premier Savings

Married (-$1,000)Paid of monthly income

Darian Pay Cut (-$2,000/annual)Redone tax sheet & income

ENDING TOTALS BEFORE DIVORCE

A+ Checking $18,279.70

Premier Savings $75,930.00

Money Market $15,600.00

IRA $1,450.00

Membership Savings $1,450.00

AMEX $0.00

VANESSA AFTER DIVORCE

PERSONAL INFO UPDATE

College Loan

Loan Amount $33,800.00Interest Rate 5%Loan Period 10 yearsTotal Cost $43,020.00Monthly Payment $359.00Paid in Interest $9,220.00Remaining Balance $39,789.00

Career

Google H.R. Analyst

Total Annual Salary$54,331.25Total Monthly Income $4,527.60

Car Info

2013 Chevy Cruze PAID OFF

Savings Balance

Total $47,215.00

Family Information

Darian Ex-SpouseTwin 1 ChildTwin 2 Child Baby 3 Child (Only Vanessa)

RENTING INFORMATION

Address: 10401 N Lamar Blvd

City: Austin State: TX Zip: 78753

Rental Agency: Sterling Village Apartments

Monthly Rent: $789.00

Utilities Included: Gas & Trash

Utilities Price: $95.00

Parking: 1 Free Space

Pet Expenses: $300.00 One Time Deposit

Total Monthly Apartment Cost: $889.00

AVERAGE MONTHLY BUDGET

Rent: $789.00

Utilities: $95.00

Cell Phone: $60.00

Groceries: $400.00

Student Loans: $359.00

Auto Insurance: $135.00

Health Insurance: $45.00

Home Insurance: $30.00

Life Insurance: $90.00

Savings: $1,200.00

Cat: $25.00

Dining Out: $150.00

Entertainment: $20.00

Home Improvement: $100.00

Shopping: $150.00

Donations: $60.00

Medical: $0.0o

Auto Expenses: $100.00

Kids Toys: $0.00

Monthly Income: $4,527.60

Interest: $10.38

Prev. Savings$49,615.00

Prev. Checking$9,000.00

Other:$1,074.00Total Monthly Debits: $ 3,808.00

Total Monthly Credits: $5,611.98($64,226.98)

DIVORCE BABY EXPENSES

Average Monthly Cost

Groceries $300.00

Eating Out $0.00

Clothes $100.00

Babysitting $0.00

Toys $30.00

Home Improvement $50.00

Health Insurance $00.00

Life Insurance $60.00

Total: $540.00

Average One Time Cost

$7,560.00

INTERESTING MONTHS

Month 10&

Month 20

MONTH 10

Monthly Income $4,527.60Interest $9.91Previous Savings $47,215.00Previous Checking $9,139.85Child Support $1,074.00

Total Income Balance $61,966.36

Rent/mortgage 1 $1,262.00Utilities 1 $230.00Home Improvement $0.00Cell Phone$60.00Groceries$400.00Shopping$100.00Auto expenses$4,070.00Student loans $359.00Credit cards $0.00Auto Insurance$135.00Dining Out$100.00Health Insurance$45.00Home Insurance$30.00Life Insurance $90.00Entertainment$15.00Pets

$25.00Vacation

$0.00Donations $5.00Medical Expenses $0.00Renting Expenses$1,199.00

Previous BalancesPremier $37,965.00Money Market $7,800.00Membership $725.00IRA $725.00A+ Checking $9,139.85

Ending BalancesPremier $38,465.00Money Market $8,300.00Membership $825.00IRA $825.00A+ Checking $6,917.36

Ending Total Balance $55,332.36

Events:Divorce Split finances, moved out, etc.

Car Accident (-$4,000.00)Paid of monthly income

Apartment Fees (-$315.00)Paid out of monthly income

MONTH 20

Monthly Income $4,527.60Interest $12.85Previous Savings $60,215.00Previous Checking $19,660.22Child Support $1,374.00

Total Income Balance $85,789.67

Rent/mortgage 1 $1,262.00Utilities 1 $230.00Home Improvement $200.00Cell Phone$60.00Groceries$700.00Shopping$300.00Auto expenses$120.00Student loans $359.00Credit cards $0.00Auto Insurance$135.00Dining Out$150.00Health Insurance$45.00Home Insurance$30.00Life Insurance $90.00Entertainment$100.00Pets

$25.00Vacation

$0.00Donations$75.00Medical Expenses$6,000.00Renting Expenses$1,199.00

Previous BalancesPremier $43,465.00Money Market $13,300.00Membership $1,725.00IRA $1,725.00A+ Checking $19,660.22

Ending BalancesPremier $43,965.00Money Market $13,800.00Membership $1,825.00IRA $1,825.00A+ Checking $15,084.01

Ending Total Balance $76,499.01

Events:

Baby Accident (-$6,000 & +$300/monthly)Pay $6,000 out of checkingAdd $300 into monthly income

ENDING TOTALS

A+ Checking $2,982.18

Premier Savings $39,889.00

Money Market $15,800.00

IRA $2,225.00

Membership Savings $1,100.00

AMEX $0.00

DARIAN AFTER DIVORCE

PERSONAL INFO UPDATE

College Loan

Loan Amount $55,167.00Interest Rate 5%Loan Period 10 yearsTotal Cost $80,232.28Monthly Payment $334.30.00Paid in Interest $25,065.28

Career

GM Innovations Business Analyst

Total Annual Salary$56,351.75Total Monthly Income $4,695.98

Car Info

2013 KIA Optima PAID OFF

Savings Balance

Total $47,215.00

Family Information

Vanessa Ex-SpouseTwin 1 ChildTwin 2 Child

RENTING INFORMATION

Address: 700 Louis Henna Blvd

City: Round Rock State: TX Zip: 78664

Rental Agency: Winthrop Agency

Monthly Rent: $695.00

Utilities Price: $80.00

Parking: 1 Free Space

Pet Expenses: $15.00/month

Total Monthly Apartment Cost: $790.00

AVERAGE MONTHLY BUDGET

Rent: $789.00

Utilities: $95.00

Cell Phone: $60.00

Groceries: $400.00

Student Loans: $359.00

Auto Insurance: $135.00

Health Insurance: $45.00

Home Insurance: $30.00

Life Insurance: $90.00

Savings: $1,200.00

Cat: $25.00

Dining Out: $150.00

Entertainment: $20.00

Home Improvement: $100.00

Shopping: $150.00

Donations: $60.00

Medical: $0.0o

Auto Expenses: $100.00

Kids Toys: $0.00

Monthly Income: $4,527.60

Interest: $10.38

Prev. Savings$49,615.00

Prev. Checking$9,000.00

Other:$1,074.00Total Monthly Debits: $ 3,808.00

Total Monthly Credits: $5,611.98($64,226.98)

DIVORCE BABY EXPENSES

Average Monthly Cost

Child Support$1,074.00

Health Insurance $238.00

Total: $1,312.00

Average One Time Cost

$18,368.00

INTERESTING MONTHS

Month 10&

Month 20

MONTH 10

Monthly Income $4,695.58Interest $9.91Previous Savings $47,224.53Other $21,000.00

Total Income Balance$72,930.02

Rent/mortgage 1 $1,262.00Utilities 1 $230.00Home Improvement $0.00Cell Phone$680.00Groceries$200.00Shopping$100.00Auto expenses$80.00Student loans $21,558.54Credit cards $0.00Auto Insurance$250.00Dining Out$100.00Health Insurance$357.00Home Insurance$30.00Life Insurance $30.00Entertainment $0.00Pets

$40.00Vacation

$0.00Donations $0.00Medical Expenses $0.00Renting Expenses$790.00

Previous BalancesPremier $75,945.82Money Market $15,602.60Membership $1,450.22IRA $1,450.42A+ Checking $18,280.46

Ending BalancesPremier $34,572.50Money Market $8,001.30Membership $825.11IRA $825.21A+ Checking $9,510.08

Ending Total Balance $53,734.20

Events:Divorce Split finances, moved out, etc.

Canada Trip (-$600.00)Paid of monthly income

MONTH 20

Monthly Income $4,527.60Interest $12.85Previous Savings $60,215.00Previous Checking $19,660.22Child Support $1,374.00

Total Income Balance $85,789.67

Rent/mortgage 1 $1,262.00Utilities 1 $230.00Home Improvement $0.00Cell Phone$80.00Groceries$200.00Shopping$100.00Auto expenses$80.00Student loans $371.04Credit cards $0.00Auto Insurance$250.00Dining Out$100.00Health Insurance$357.00Home Insurance$30.00Life Insurance $30.00Entertainment$15.00Pets

$40.00Vacation

$0.00Donations$10.00Kids Toys$50.00Renting Expenses$790.00

Previous BalancesPremier $38,473.00Money Market $11,000.00Membership $1,825.00IRA $1,825.00A+ Checking $11,087.89

Ending BalancesPremier $18,873.00Money Market $11,300.00Membership $1,925.00IRA $1,925.00A+ Checking $5,332.94

Ending Total Balance $39,355.94

Events:

Parents Death (-$26,000)Paid from income and savings

ENDING TOTALS

A+ Checking $5,927.31

Premier Savings $20,673.00

Money Market $12,300.00

IRA $2,325.00

Membership Savings $2,325.00

AMEX $0.00

PROJECT REVIEW

Vanessa

Likes:

Real life in High School

Budgeting

Dislikes:

Random Life Events

Redo Everything Divorce

Darian

Likes:

Rent vs. Buying

Dislikes:

Spreadsheet

Decrease in savings accounts