Monthly Family Budget Plan Project

By. Daniel Jamison, Curtis Fouse, Bryant Johnson

The kids

• We have two kids, a 2 year old, and a 4 year old. The two year old is named Kapono and the four year old is Rashida.

• Kapono- Male• Rashida- Female.

Government Funding

• With our 150,000 dollor family we did not qualify for any Government funding.

Purchasing A Truck

• We are planning on purchasing a Ram 1500 big horn. We are going to pay $560 a month to pay for the truck with a down payment of 4,174 and will pay $50 a month for insurance on the vehicle. The cost of the truck is $40,745. We spend on average$160 dollars a month with the truck getting 24 miles per gallon.

Paying For The House

• We are going to purchase a 399,000 dollar house. We will pay $1,788 dollors a month With a 30 year plan. We placed a ten percent down payment of the house, $39,900.

Paying For the House Cont.

• We will pay our monthly electric bill estimated at $90 dollars a month, and will pay for other utilities combined at $819 dollars, which will include things like water, heating, sewage, etc.

Health Insurance

• We pay a $320 a month for health insurance.

Student Loans

• For going to college for seven years between the two parents the cost of college is $115,000. We are doing a twenty year pay off and paying $479.10 a month on our loans

Retirement

• Our retirement is made up of about 10 percent of the money we bring in after taxes. That will come out as us saving a total of 11,500 a year, and $875 a month.

Pets

• Our pet is a hampster, we pay $7 a month on food and bedding for him.

Gym membership

• We will not be joining a gym, when we can workout for free.

Vacation

• We will go on a cruise to Bermuda for a week, paying $1,260 a person. We purchased tickets on the Internet by Carnival.com.

Recreation

• We will not attend recreational activities due to the age of our children.

Child care

• We will have a babysitter, who will get paid 10 dollars an hour for 3 hours a day. A month of her getting paid will cost us around 840 dollars a month.

Extras

• We will not have extras, we will cover all of our expenses through what has already been reported.