# House in Kansas City

## Cost of Living

Harper will spend \$80 on utilities for the house, \$140 on food for the month, \$100 on gas per month, \$60 on entertainment per month, and \$50 on miscellaneous per month. This comes to a total of \$430 per month. This is the very minimum someone in the Kansas City area would spend for 1 person, she will have extra money left over to increase her living conditions if she wishes.

## Cost per month

There is \$430 a month for living, at a minimum. Monthly payments for the car is \$325, for student loans are \$292.67, and for mortgage is \$995. This is the minimum payment she will have to spend on mortgage, she will be able to afford, and in fact she will have extra to increase it. The total cost per month is \$2042.67. This is the minimum she will have to pay to live on, and after each year. She receives \$4083.33 a month.

## Yearly

Harper makes \$70,000 a year, and 30% of that is taxes, which leaves \$49,000 for living a year. The total of the cost per month, times 12 months is 24,512.04 a month. After a 10% down payment of \$21,500 on the house, she can afford to borrow \$193,500, even with the minimum payment, she has money extra to increase the minimum. There is \$2,987.96 left as extra. This money can be used to increase monthly payments, to lower the total money and time spent, or increased budget for living, or unexpected accidents.

## Increasing Mortgage by 15%

Increasing the mortgage, \$995, by 15% is \$1,144.25. She saves 7 years and 6 months and she saves \$49,252.5.