Financial Litteracy Project
Finding a college
My Car and My House
My vehicle is a 2008 Ford F150 white truck forthe purchase price of $15,000. I would pay this loan over 48 months at 3% interest rate which makes the montly payment $332.01. The total interest paid for the vehicle loan is $936.72.
Some adjustments included taking a 20 year college loan payment in order to have a 20 versus 30 month mortgage loan and a 48 versus 60 month vehicle loan. I chose to get my car and house paid off first as these are assests and I already have my degree. I pay double the total interst of a 10 year college loan but I needed a smaller monthly loan payment in order to be able to afford a modest house and a reliable vehicle.
My initial ideas of beginning adulthood have changes. I had no idea adulthood would be so hard. I learned that making a budget is difficult. I wanted to live in Hawaii and drive a corvette but now I see it is more of a dream.