- I will attend Texas A&M
- The tuition per semester is $4,503 and the total tuition is $36,008
- If I defer the payment for 2 years I will pay $39396.93 which is $3,388.93 more
- If I didn't defer the payment I will be paying $374.92 monthly for 10 years but since I had to defer the payments I will have to pay $410.21 monthly for 10 years
- The house I chose to live in was $144,500
- The address is 16101 Kiva Ct Justin, TX
- My monthly payment for the house is $672.49 so I will pay it off in 30 years
- My loan has an interest rate of 3.79% so the added interest is $97,594.98 or 40.31%
- My car is a 1981 DeLorean DMC-12
- It cost $24,000
- My monthly payment is $531.22 and will payed off over 4 years
- My loan has an interest rate of 3% and will add $1,498.74 or 5.88% over the life of the loan
What was the biggest learning experience throughout the project?
I figured out that being an adult is not as easy as I thought. You really have to plan out what you are going to do with your money especially in this economy. Now everything revolves around money.
What adjustments did i have to make to stay within budget?
I didn't have to change anything but I did make sure that I bought a semi-cheap house and car. When I did calculate how much money I had left and I had $1,642.84 remaining.
How does this compare to my initial idea of beginning adulthood?
Well calculating everything takes a lot longer than I thought it would. I do think that when I am an actual adult I will find it hard to keep track and control my money.