Budget Presentation
by Ryan Bate in Period 4
Information
I am a welder that makes 36,000 a year and has a credit score of 700.
Housing
The apartment me and my child will be living in has 2 bedrooms and 1 bathroom.
I am renting this apartment at $530 a month.
This price includes water/sewage/trash and has a one time appliance fee of $25.
This apartment complex also has a park area, which is a plus.
Automobile
I am buying my car using the savings I got from inheritance, so I am paying it all off upfront.
For my car, I found a black 2010 Nissan Versa 1.8 S priced at $2,700.
Actual car
Type of car
Side view
Savings
My saving choices had to do with what I could afford because the budget was tight for the most part.
It will take about forty years for there to be a million dollars in my retirement fund. I got the minimum of $25,000 of life insurance.
Loans
Being a welder means I did not have to get a college, which means no student loans.
I also have no credit cards to pay off because I turned in assignments in on time.
Reflection
This project was challenging due to being a single parent. This made the budget too close for comfort at some time. I worked through this by cutting back on personal things and going out to the movies.
I learned that money is often tight when living on your own.
I look at $10 being worth a lot more than I did before this project because an extra $10 really does matter.