FINANCIAL LITERACY PROJECT
BY STORMIE WEAVER
MY OCCUPATION ( graphic designer )
Degree needs ( business degree )
COLLEGE ATTENDING ( Abilene Christian University )
Tuition per semester ( 4,973.25 )
Total tuition to obtain degree ( 39,786 )
School loan terms ( 4 YEARS with 4.6 interest )
Additional interest after two year deferment ( 1,646.30 )
Address ($149,990)
loan terms ( 30 years with 3.79% )
monthly payment ( 698.04 )
total interest ( 1364.4 )
vehicle ( $1200)
loan terms ( 3% with 48 month loan )
monthly payment ( 221.35 )
total interest ( 1600)
TOTAL INCOME 3365.91
MORTGAGE 698.04
CAR 221.35
LOAN 354.22
UTILITIES 8% 269.27
FOOD 14% 471.22
INSURANCE 4% 134.63
GAS 5% 168.29
CELL 6% 201.95
CLOTHING 4% 134.63
ENTERTAINMENT 8% 269.27
SAVING 10% 336.59
I learned that money goes by very quickly and that most things like food and clothing costs a lot of money. My experiences taught me that parents do a lot for what we have and we should respect them more. I only have $102 dollars a month which is not a lot for all the work I will be doing. we need to cherish every penny because money is hard to get.
My car was too much for my monthly income so I had to buy a cheaper car. I also had to buy a different house because it was $456 over what I had planned to pay. I only have $102 a month left over. my job only pays about 40,000 dollars a year so I have to adjust my spending until I get a promotion or a new job.
When I started I thought I would buy a mansion and have tons of money but after this project I realized that you have to start small and then work hard to get more money. My car costs $1200 which is very cheap, but I will get a better car when I get a promotion or a better job.