Days of My Life
Ferrante Matthews
My Life
- Career - Welder
- Net Income - 36,000
- Single, no children
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
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.