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PERSONAL FINANCE PROJECT
Darian Davidson & Vanessa Young
CAREERS
Vanessa
Career: Google HR Analyst
Annual Salary: $75,000.00
Annual Federal Taxes: $20,668.75
Total Annual Income: $54,331.25
Total Monthly Income: $4,527.60
Darian
Career: GM Innovations Business Analyst
Annual Salary: $78,000.00
Annual Federal Taxes: $21,648.25
Total Annual Income: $56,351.75
Total Monthly Income: $4,695.98
Total Household Income
Annual: $110,683.00
Monthly: $9,223.58
VEHICLE INFORMATION
Vanessa
Year, Make, and Model: 2013 Chevy Cruze
Number of Miles on Car: 51,567
Cost of Vehicle: $14,000.00
Dealership: Covert Hutto
Loaning Bank: Paid Cash
Interest Rate of Loan: n/a
Length of Loan: n/a
Monthly Loan Payment: n/a
Darian
Year, Make, and Model: 2013 Kia Optima
Number of Miles on Car: 30,000
Cost of Vehicle: $17,000.00
Dealership: Covert Hutto
Loaning Bank: Paid Cash
Interest Rate of Loan: n/a
Length of Loan: n/a
Monthly Loan Payment: n/a
RENTING INFORMATION
Address: 12100 Metric Blvd
City: Austin State: TX Zip: 78758
Rental Agency: Venterra Reality (Chez Moi Apartments)
Monthly Rent: $1,194.00
Utilities Included: none
Utilities Price: $230.00
Total Monthly Apartment Cost: $1,424.00
AVERAGE MONTHLY BUDGET
Rent: $1,262.00
Utilities: $230.00
Cell Phone: $100.00
Groceries: $600.00
Student Loans: $917.54
Auto Insurance: $500.00
Health Insurance: $398.00
Home Insurance: $30.00
Life Insurance: $260.00
Savings: $1,800.00
Cats: $50.00
Dining Out: $100.00
Entertainment: $40.00
Home Improvement: $50.00
Shopping: $300.00
Donations: $65.00
Medical: $0.0o
Auto Expenses: $140.00
Kids Toys: $70.00
Monthly Income: $9,223.58
Interest: $17.54
Total Monthly Debits: $ 5,132.54
Total Monthly Credits: $9,241.12($94,121.12)
BABY EXPENSES
Average Monthly Cost
Groceries $200.00
Eating Out $0.00
Clothes $150.00
Babysitting $0.00
Toys $50.00
Home Improvement $20.00
Health Insurance $199.00
Life Insurance $130.00
Total: $749.00
One Time Cost
$17,922.00
( for twins before divorce )
INTERESTING MONTHS
Month One
MONTH ONE
Monthly Income $9,223.58Interest $18.66Previous Savings $91,530.00
Total Income Balance$100,772.24
Rent/mortgage 1 $1,262.00Utilities 1 $230.00Home Improvement $50.00Cell Phone$100.00Groceries$600.00Shopping$220.00Auto expenses$140.00Student loans $917.54Credit cards $0.00Auto Insurance$500.00Dining Out$100.00Health Insurance$398.00Home Insurance$30.00Life Insurance $260.00Entertainment$30.00Pets
$50.00Vacation
$0.00Donations $5.00Medical Expenses$12,040.00Surprise Event$1,000.00
Previous BalancesPremier $81,530.00Money Market $10,000.00Membership $0.00IRA $0.00A+ Checking $0.00
Ending BalancesPremier $70,330.00Money Market $10,700.00Membership $50.00IRA $100.00A+ Checking $1,659.70
Ending Total Balance $82,839.70
Events:Twins (-$12,000)Took out of the Premier Savings
Married (-$1,000)Paid of monthly income
Darian Pay Cut (-$2,000/annual)Redone tax sheet & income
ENDING TOTALS BEFORE DIVORCE
A+ Checking $18,279.70
Premier Savings $75,930.00
Money Market $15,600.00
IRA $1,450.00
Membership Savings $1,450.00
AMEX $0.00
VANESSA AFTER DIVORCE
PERSONAL INFO UPDATE
College Loan
Loan Amount $33,800.00Interest Rate 5%Loan Period 10 yearsTotal Cost $43,020.00Monthly Payment $359.00Paid in Interest $9,220.00Remaining Balance $39,789.00
Career
Google H.R. Analyst
Total Annual Salary$54,331.25Total Monthly Income $4,527.60
Car Info
2013 Chevy Cruze PAID OFF
Savings Balance
Total $47,215.00
Family Information
Darian Ex-SpouseTwin 1 ChildTwin 2 Child Baby 3 Child (Only Vanessa)
RENTING INFORMATION
Address: 10401 N Lamar Blvd
City: Austin State: TX Zip: 78753
Rental Agency: Sterling Village Apartments
Monthly Rent: $789.00
Utilities Included: Gas & Trash
Utilities Price: $95.00
Parking: 1 Free Space
Pet Expenses: $300.00 One Time Deposit
Total Monthly Apartment Cost: $889.00
AVERAGE MONTHLY BUDGET
Rent: $789.00
Utilities: $95.00
Cell Phone: $60.00
Groceries: $400.00
Student Loans: $359.00
Auto Insurance: $135.00
Health Insurance: $45.00
Home Insurance: $30.00
Life Insurance: $90.00
Savings: $1,200.00
Cat: $25.00
Dining Out: $150.00
Entertainment: $20.00
Home Improvement: $100.00
Shopping: $150.00
Donations: $60.00
Medical: $0.0o
Auto Expenses: $100.00
Kids Toys: $0.00
Monthly Income: $4,527.60
Interest: $10.38
Prev. Savings$49,615.00
Prev. Checking$9,000.00
Other:$1,074.00Total Monthly Debits: $ 3,808.00
Total Monthly Credits: $5,611.98($64,226.98)
DIVORCE BABY EXPENSES
Average Monthly Cost
Groceries $300.00
Eating Out $0.00
Clothes $100.00
Babysitting $0.00
Toys $30.00
Home Improvement $50.00
Health Insurance $00.00
Life Insurance $60.00
Total: $540.00
Average One Time Cost
$7,560.00
INTERESTING MONTHS
Month 10&
Month 20
MONTH 10
Monthly Income $4,527.60Interest $9.91Previous Savings $47,215.00Previous Checking $9,139.85Child Support $1,074.00
Total Income Balance $61,966.36
Rent/mortgage 1 $1,262.00Utilities 1 $230.00Home Improvement $0.00Cell Phone$60.00Groceries$400.00Shopping$100.00Auto expenses$4,070.00Student loans $359.00Credit cards $0.00Auto Insurance$135.00Dining Out$100.00Health Insurance$45.00Home Insurance$30.00Life Insurance $90.00Entertainment$15.00Pets
$25.00Vacation
$0.00Donations $5.00Medical Expenses $0.00Renting Expenses$1,199.00
Previous BalancesPremier $37,965.00Money Market $7,800.00Membership $725.00IRA $725.00A+ Checking $9,139.85
Ending BalancesPremier $38,465.00Money Market $8,300.00Membership $825.00IRA $825.00A+ Checking $6,917.36
Ending Total Balance $55,332.36
Events:Divorce Split finances, moved out, etc.
Car Accident (-$4,000.00)Paid of monthly income
Apartment Fees (-$315.00)Paid out of monthly income
MONTH 20
Monthly Income $4,527.60Interest $12.85Previous Savings $60,215.00Previous Checking $19,660.22Child Support $1,374.00
Total Income Balance $85,789.67
Rent/mortgage 1 $1,262.00Utilities 1 $230.00Home Improvement $200.00Cell Phone$60.00Groceries$700.00Shopping$300.00Auto expenses$120.00Student loans $359.00Credit cards $0.00Auto Insurance$135.00Dining Out$150.00Health Insurance$45.00Home Insurance$30.00Life Insurance $90.00Entertainment$100.00Pets
$25.00Vacation
$0.00Donations$75.00Medical Expenses$6,000.00Renting Expenses$1,199.00
Previous BalancesPremier $43,465.00Money Market $13,300.00Membership $1,725.00IRA $1,725.00A+ Checking $19,660.22
Ending BalancesPremier $43,965.00Money Market $13,800.00Membership $1,825.00IRA $1,825.00A+ Checking $15,084.01
Ending Total Balance $76,499.01
Events:
Baby Accident (-$6,000 & +$300/monthly)Pay $6,000 out of checkingAdd $300 into monthly income
ENDING TOTALS
A+ Checking $2,982.18
Premier Savings $39,889.00
Money Market $15,800.00
IRA $2,225.00
Membership Savings $1,100.00
AMEX $0.00
DARIAN AFTER DIVORCE
PERSONAL INFO UPDATE
College Loan
Loan Amount $55,167.00Interest Rate 5%Loan Period 10 yearsTotal Cost $80,232.28Monthly Payment $334.30.00Paid in Interest $25,065.28
Career
GM Innovations Business Analyst
Total Annual Salary$56,351.75Total Monthly Income $4,695.98
Car Info
2013 KIA Optima PAID OFF
Savings Balance
Total $47,215.00
Family Information
Vanessa Ex-SpouseTwin 1 ChildTwin 2 Child
RENTING INFORMATION
Address: 700 Louis Henna Blvd
City: Round Rock State: TX Zip: 78664
Rental Agency: Winthrop Agency
Monthly Rent: $695.00
Utilities Price: $80.00
Parking: 1 Free Space
Pet Expenses: $15.00/month
Total Monthly Apartment Cost: $790.00
AVERAGE MONTHLY BUDGET
Rent: $789.00
Utilities: $95.00
Cell Phone: $60.00
Groceries: $400.00
Student Loans: $359.00
Auto Insurance: $135.00
Health Insurance: $45.00
Home Insurance: $30.00
Life Insurance: $90.00
Savings: $1,200.00
Cat: $25.00
Dining Out: $150.00
Entertainment: $20.00
Home Improvement: $100.00
Shopping: $150.00
Donations: $60.00
Medical: $0.0o
Auto Expenses: $100.00
Kids Toys: $0.00
Monthly Income: $4,527.60
Interest: $10.38
Prev. Savings$49,615.00
Prev. Checking$9,000.00
Other:$1,074.00Total Monthly Debits: $ 3,808.00
Total Monthly Credits: $5,611.98($64,226.98)
DIVORCE BABY EXPENSES
Average Monthly Cost
Child Support$1,074.00
Health Insurance $238.00
Total: $1,312.00
Average One Time Cost
$18,368.00
INTERESTING MONTHS
Month 10&
Month 20
MONTH 10
Monthly Income $4,695.58Interest $9.91Previous Savings $47,224.53Other $21,000.00
Total Income Balance$72,930.02
Rent/mortgage 1 $1,262.00Utilities 1 $230.00Home Improvement $0.00Cell Phone$680.00Groceries$200.00Shopping$100.00Auto expenses$80.00Student loans $21,558.54Credit cards $0.00Auto Insurance$250.00Dining Out$100.00Health Insurance$357.00Home Insurance$30.00Life Insurance $30.00Entertainment $0.00Pets
$40.00Vacation
$0.00Donations $0.00Medical Expenses $0.00Renting Expenses$790.00
Previous BalancesPremier $75,945.82Money Market $15,602.60Membership $1,450.22IRA $1,450.42A+ Checking $18,280.46
Ending BalancesPremier $34,572.50Money Market $8,001.30Membership $825.11IRA $825.21A+ Checking $9,510.08
Ending Total Balance $53,734.20
Events:Divorce Split finances, moved out, etc.
Canada Trip (-$600.00)Paid of monthly income
MONTH 20
Monthly Income $4,527.60Interest $12.85Previous Savings $60,215.00Previous Checking $19,660.22Child Support $1,374.00
Total Income Balance $85,789.67
Rent/mortgage 1 $1,262.00Utilities 1 $230.00Home Improvement $0.00Cell Phone$80.00Groceries$200.00Shopping$100.00Auto expenses$80.00Student loans $371.04Credit cards $0.00Auto Insurance$250.00Dining Out$100.00Health Insurance$357.00Home Insurance$30.00Life Insurance $30.00Entertainment$15.00Pets
$40.00Vacation
$0.00Donations$10.00Kids Toys$50.00Renting Expenses$790.00
Previous BalancesPremier $38,473.00Money Market $11,000.00Membership $1,825.00IRA $1,825.00A+ Checking $11,087.89
Ending BalancesPremier $18,873.00Money Market $11,300.00Membership $1,925.00IRA $1,925.00A+ Checking $5,332.94
Ending Total Balance $39,355.94
Events:
Parents Death (-$26,000)Paid from income and savings
ENDING TOTALS
A+ Checking $5,927.31
Premier Savings $20,673.00
Money Market $12,300.00
IRA $2,325.00
Membership Savings $2,325.00
AMEX $0.00
PROJECT REVIEW
Vanessa
Likes:
Real life in High School
Budgeting
Dislikes:
Random Life Events
Redo Everything Divorce
Darian
Likes:
Rent vs. Buying
Dislikes:
Spreadsheet
Decrease in savings accounts