Finacial Literacy: My future!

By: Ashley Hale

Occupation: Neonatologist, Pediatricians

If I become a Neonatologist that would mean that my total income, with working full hours would be $175,400. This also means that I would need a Doctor's degree in order to partake in this job. This is a good paying job and would help me greatly in the future. This job would make me very happy not only for the money but also for helping a family. Here is an example of what my job is:

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College attending: Texas Tech

In order to attend Texas Tech, or the reason of me going to be a neonatologist, would have to have a tuition of $5,403.80. But my total tuition to obtain my degree would be $86,448. For my school loan terms, I would have a balance of 86,448, a rate of 4.6% and the time that I would pay it off would be 20 years. Additional interest for 2 year deferment would be 3,976.61. Lastly my school loan payment after deferment would be 90,424.61.
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Address: 8900 Arbor Crest Ct Fort Worth, 76179

Once I found a decent home I found that the total interest over the life of the loan would be 249,500 but I would only be paying $2,258 a month. My Loan terms were, $249,500 for my balance. my Rate was 3.25% and I was going to pay it off in 20 years.
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Vehicle: Jeep, Rubicon

With my new 'job'/occupation I need a car to get me around. So I chose a Jeep, Rubicon. The total interest over the life of loan would be $29,950 but I would only be paying $662.92 a month for my car. My Loan terms were, $29,950 for my balance. my Rate was 3% and I was going to pay it off in 48 months.
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What was your biggest learning experience throughout this project? Why?

That you have to make smart decisions with the things you purchase including: What you spend on my house, transportation because if not then that will leave me with nothing left in my pocket.

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

How much I spent on my transportation and how long till I was going to pay off all my loans.

How does this compare your initial ideas of beginning adulthood?

This compares almost equally to what I thought would happen because even before this project I had lots of background knowledge of my future and the only thing that wasn't the same was, how much money I would have left over. Initially I thought I would only have around 500-600$ left over when actually I have 2,227.23 left over