Financial Literacy Project

By: Alexis Urias

Occupation: Elemantary Teacher (any subject)


· Annual Income: $57,080



· Degree needs: Bachelor's degree (four year course)

College Attending: Baylor University

· Tuition per semester: $ 32,574 (2 semesters per year)



· Total tuition to obtain degree: $ 260,592



· School loan terms:4.6 interest rate for deferment Monthly:$1,662.73 Payments : 241 time: 20



· Additional interest for 2 year deferment: 1,571.14



· School loan payment after deferment: 262,163

Address: 8212 Barton Club Dr Austin, TX 78735

· Loan terms: 69,700 EECU- 3.79% on your mortgage for 30 years


· DATCU- 3.25%, if you take the mortgage 20 years


· Monthly payment: eecu-218.73


· Datcu-266.58


· Total interest over the life of the loan: eecu- 31,743.70


· Datcu-16,979.68


Vehicle: Used 2008 Kia Sportage LX 3,500

· Terms of the loan: eecu-3% interest for a 48 month



· Datcu- 4% for a 60 month loan



· Monthly payment:eecu: 77.47



· DATCU: 66.46

· Total interest over the life of the loan: DATCU: $218.57
eecu: 367.47

Budget :)

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What was your biggest learning experience throughout this project?why?

I noticed the reality of having a budget the ammount of money it actually cost for college, also i learned how to get my total balance of my payments for my budget.

What adjustments did you have to make throughout the project to stay within budget? why?

My house, originally I have an expensive house but when I added everything in the table together the house was to expensive, so after I saw that I had to go back to realtor.com find a cheaper house and calculate the monthly income which ended up being about 324$ and keeping it in my teacher monthly income.

How does this compare your initial ideas of beginning adulthood?

I thought it would be easier and cheaper. I didn’t relies how much work and experience you have to put into my student loan house and car. I also finally understand how my mom and dad stay in budget. It also gave me a glimpse of the financial problems I might experience in my life, and how to fix it.