Garrett Siegman: Doctor
Salary: $ 240,000
Budgeting Guidelines
Housing: 35% = $ 84,000
Medical: 3% = $ 7,200
Clothing: 3-5% = $ 7,200 - $ 12,000
Utilities: 5% = $ 12,000
Savings: 5-10% = $ 12,000 - $ 24,000
Personal and Discretionary: 5-10% = $ 12,000 - $ 24,000
Debt Payments: 5-15% = $ 12,000 - $ 36,000
Food: $ 24,000 - 10-20% = $ 48,000
Transportation: 15-20% = $ 36,000 - $ 48,000
Car Costs and Payments
Total Amount (payments per year)
- Gas- $ 1,200
- Insurance- $ 1,740
- Maintenance- $ 1,200
- Actual Car- $ 43,860
My Car
Make- Lexus
Series- IS Series
Model- IS 250
Year- 2007 (Automatic)
Miles- 101,000
EPA Mileage- 22/28 MPG
From- Tinley Park, IL
Interest Rate
Resource- Bank of America
Interest Rate- 2.39%
Monthly Payment- $ 3,655
Loan Term- 5 Months
I can Afford in these 5 months- $ 18,166
Minimum Payment
Monthly Payment- $ 3,655
References
Last, F. (2013, December 26). 2007 Lexus IS 250 4D Sedan.http://m.carmax.com/vehicle/10338363. Retrieved April 25, 2014
(2014, April 23). Auto Loan Payment Calculators. Retrieved from: http://www.bankofamerica.com/auto-loans/car-payment-calculator.go#loan-amount