The Chilton Family

Marriage budget

Cooper Chilton and Kelsey Pearce

Kelsey as a Pharmacist

Pros- Starting salary of $10,000.00 per month & Cons- Ridiculous amount of school

Cooper as a Biomedical Engineer

Pros- Less school & Cons- School is more expensive in proportion and less overall pay

Housing-Times Square at Craig Ranch

Renting the Broadway Style Apartment

Security Deposit- $150.00

Monthly Bill:$1,190.00

Leased Apartment for 6 months

Rental Insurance- $30.00

Community Amenities

  • Controlled access parking garage
  • Private media center
  • Fitness center with private tanning studio
  • Outdoor fireplace and gas grill
  • Business center
  • Lanai with resort style pool and wifi internet access
  • Views of TPC Craig Ranch private golf course available in select homes
  • Smoke free community


Leasing 2 Red 2014 Chevrolet Cameros

Price of each Vehicle- $23,555.00

Payments per month- $438.00 for 36 months

Auto Insurance- $300.00 per month

Savings and Retirement

Emergency Fund- $1,000.00

Transfer to Savings- $1,000.00

Investments- $450.00

Savings for a House- $200.00

Contributing a monthly amount of $450.00 would allow for a million in retirement in 35 years

Student Loans and Credit Cards

Total School Loans- $125,000.00 @ $957.53 per month

Total Credit Card Debt- $17,100.00

  • Payed off in 224 months (about 19 years) @ a minimum Payment of $30.00 and an added 3% of balance

Debt is @ 23.39% of Annual Income

Let's Talk About It

Callenges- DEBT! Between managing school debt and credit card debt, most of our extra money is gone. These conditions led us to invest more as well as save more (just in case).

Overcoming- By making all other facets of our life cheaper, some according to fate. Car and Apartment leasing cost a lost less and we saved money generally rather than spending it

What did WE learn?

  1. Scholarships are important
  2. If you save earlier you get to spend more later
  3. If you don't have the money, don't spend it
  4. Don't buy a car or house if you know you can afford it given your situation
  5. Pick a job you want, you will eventually excel because you like it and get more money

Do we look at money differently?

Both of us agreed we didn't. Because this is only a theoretical project all the money, debt, jobs, etc. are all in theory too. Getting and spending money doesn't mean much until it's something you've worked for.