Days of My Life

Ferrante Matthews

My Life

  • Career - Welder
  • Net Income - 36,000
  • Single, no children
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Housing


  • 3431 Brookston St., Houston, TX 77045
  • Buying Home
  • I paid $15,000 for the home
  • My mortgage payment is $433.98
  • Interest Rate - 4.2%

Home Expenses

  • Electricity - $208.94
  • Water/Sewer/Trash - $75
  • Cell Phone - $70
  • Internet - $70
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Transportation

  • 2015 Toyota Camry 4dr Sdn LE
  • Leased car for 48 months
  • Made a car loan of $567.88
  • Auto insurance is $150

Daily Living and Entertainment

  • Groceries - $200
  • Personal Supplies - $70.38
  • Clothing - $72.12
  • Dining/Eating Out - $11.97
  • Fuel - $40
  • Charities - $2
  • Netflix - $9
  • Movies at theater - $13.69

Savings/Retirement

My starting balance is $150 and i plan to contribute $100 monthly for 30 years. My annual rate of return is 8%. In 55 years, I shall acquire a million dollars in my retirement fund.

Reflection

I had a challenge with finding a home within my budget in great cities of Texas. So i had to find a home less than 20,000 in Houston. I also now look at money different because you have to stay in a certain budget and can't spend it all on non-sense.