Finnacial Literacy Project

created by: Hannah O'bryant

Occupation: Video game animator

For this job I will be making an annual income of $73,950, most jobs needing animators require a bachelors degree or higher. For convenience I have chosen a bachelors degree because tuition is cheaper and amateur game design as jobs for animators with a bachelors degree.

College attending: Art Institute of Dallas

tuition per semester is $732 at this college, and because I am getting a bachelors degree I will pay a total of $70,272 in tuition.

School loan terms

-$70,272 total tuition

-20 years loan payment

-4.6% rate for payment and deferment

-$448.38 per month

Additional interest for 2 year deferment: $10,761.12

School loan payment after deferment: $81,033,12

Adress: 2519 Wilma Street, Dallas, Texas

Loan terms


-20 year payment plan

-3.25% interest rate

Monthly payment: $397.04

Total interest over life of the loan: $73,096.92

Vehicle: 2007 Honda CR-V

Loan terms


-4 year loan payment

-3% interest

Monthly payment: $116.71

Total interest over life of the loan: $5,934.80


Monthly income: $6.162.50

Mortgage payment (fixed amount): $397.04

Car payment (fixed amount): $116.71

Student loan payment (fixed amount): $448.38

Utilities (8%): $493

Food (14%): $862.75

Insurance (4%): $246.50

Gas (5%): $308.13
Cell phone (6%): $369.75

Clothing (4%): $246.50

Entertainment (8%): $493

Savings (10%): $616.25


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

At the beginning of this project I knew that I would end up learning something that I either didn't know or had the wring views on. I did in fact learn something new, I learned that having to buy my way into this world and keep my place would take a lot more than a couple stray dollar bills. I understand now that life's a lot more complicated than I seems, nobody lives here for free; everyone's got a price to pay.

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

I had to make several changes to my car, house, and college because my desired job did not make me enough money to "go crazy". I originally had my dream car; a green mustang convertible, and my dream house; a two story white brick house with a balcony at the master bedroom. Now that I think about it, its obviously an over-shot dream for my 6 Thousand monthly salary, so I changed to an average one-story single family home and a used car.

How does this compare your initial ideas of beginning adulthood?

I definitely understand that I will have to go through a lot of things when I move out of my parent's house and live on my own, I used to think that I could just buy a house and a car and be on my way; I know now it takes a lot more to be able to sustain ,myself and a potential family. I applaud adults that have managed to get as far as they have in this struggling world and send encouragement to those still trying.