Financial Lieracy Project!

By: Codie Smith

Occupation: Interior Designer

· Annual Income: apox.62,820


· Degree needs: BACHELORS


College Attending: UNT

· Tuition per semester: 3,267


· Total tuition to obtain degree: 26,136


· School loan terms: 26,136 10 years 4.6% interest rate


· Additional interest for 2 year deferment: 5,912.37


· School loan payment after deferment: 300.77


Address :155 County Road 511

· Loan terms: 275,000 interest: 3.25% time: 30 years


· Monthly payment; 1279.82


· Total interest over the life of the loan: 185735.20


Vehicle: used Jeep Rangler

· Terms of the loan: 8,000 interest: 3.0% time: 4 years


· Monthly payment: $147.33


· Total interest over the life of the loan: 839.80


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What was your biggest learning experience throughout this project? Why?

Living costs a lot. I didn’t think that for me to be able to live would cost THAT much money.

What adjustments did you have to make throughout the project to stay within budget and why?

I had to defer my college loans and mortgage by like 10-30 years so I could stay in my pay check.

How does this compare your initial ideas of beginning adulthood?

thought it was going to be easy but now I know it’s going to take some work.