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