Final Project

Brandi Smith

July
Income
B. Hopeful
S. Hopeful
Total Income

August
4800
350
5150

4800
350
5150

-200
-1149
-582.82
-450
-155
-30
-20
-15
-70
-200
-120
-25
-95
-275
-75
-85
-170
-85
-35
-30
-615
-35
-4516.82

-200
-1149
-582.82
-450
-155
-30
-20
-15
-70
-200
-120
-25
-95
-275
-75
-85
-170
-85
-35
-30
-615
-35
-4516.82

Surplus / (Deficit)

633.18

633.18

Savings / Debt

633.18

1266.36

Expenses
Car Payment
1st Mortgage
2nd Mortgage
Food Expense
Kids Lessons
Laundry
Dry Cleaning
Gifts
Life Insurance
Health Insurance
Car Insurance
Internet
Cable
Utilities
Home Phone
Cell Phones
Gas
Bowling League
Newspaper
Misc.
Tithing
Charities
Total

Hopeful Budget
September October

November December

January

February

4800
350
5150

4800
350
5150

4800
350
5150

4800
350
5150

4800
350
5150

4800
350
5150

-200
-1149
-582.82
-450
-155
-30
-20
-15
-70
-200
-120
-25
-95
-275
-75
-85
-170
-85
-35
-30
-615
-35
-4516.82

-200
-1149
-582.82
-450
-155
-30
-20
-15
-70
-200
-120
-25
-95
-275
-75
-85
-170
-85
-35
-30
-615
-35
-4516.82

-200
-1149
-582.82
-450
-155
-30
-20
-15
-70
-200
-120
-25
-95
-275
-75
-85
-170
-85
-35
-30
-615
-35
-4516.82

-200
-1149
-582.82
-450
-155
-30
-20
-15
-70
-200
-120
-25
-95
-275
-75
-85
-170
-85
-35
-30
-615
-35
-4516.82

-200
-1149
-582.82
-450
-155
-30
-20
-15
-70
-200
-120
-25
-95
-275
-75
-85
-170
-85
-35
-30
-615
-35
-4516.82

-200
-1149
-582.82
-450
-155
-30
-20
-15
-70
-200
-120
-25
-95
-275
-75
-85
-170
-85
-35
-30
-615
-35
-4516.82

633.18

633.18

633.18

633.18

633.18

633.18

1899.54

2532.72

3165.9

3799.08

4432.26

5065.44

March

April

May

June

4800
350
5150

4800
350
5150

4800
350
5150

4800
350
5150

-200
-1149
-582.82
-450
-155
-30
-20
-15
-70
-200
-120
-25
-95
-275
-75
-85
-170
-85
-35
-30
-615
-35
-4516.82

-200
-1149
-582.82
-450
-155
-30
-20
-15
-70
-200
-120
-25
-95
-275
-75
-85
-170
-85
-35
-30
-615
-35
-4516.82

-200
-1149
-582.82
-450
-155
-30
-20
-15
-70
-200
-120
-25
-95
-275
-75
-85
-170
-85
-35
-30
-615
-35
-4516.82

-200
-1149
-582.82
-450
-155
-30
-20
-15
-70
-200
-120
-25
-95
-275
-75
-85
-170
-85
-35
-30
-615
-35
-4516.82

633.18

633.18

633.18

633.18

5698.62

6331.8

6964.98

7598.16

Final Project
Brandi Smith

July
Income
B. Hopeful
S. Hopeful
Total Income
Expenses
Car Payment
1st Mortgage
2nd Mortgage
Added Minimum Payments
Credit Card #1
Credit Card #2
Credit Card #3
Credit Union Loan
Gas Credit Card
Medical Bill
Reduced from 450 to 419.51. Top Ramen fFood Expense
Reduce to fewer lessons (155 to 95).
Kids Lessons
Laundry
Dry Cleaning
Gifts
Life Insurance
Health Insurance
Car Insurance
Internet
They have to switch to Netflix. Reduced f Cable
Utilities
What the heck are you using a home phonHome Phone
Cell Phones
Gas
Reduced from 85 to 0. :(
Bowling League
They don't need the newspaper. Use CNN.Newspaper
Misc.
Tithing
Charities
Total Expenses

$4,800.00
$350.00
$5,150.00

$200.00
$1,149.00
$582.82
$158.00
$34.67
$274.37
$280.85
$92.72
$65.07
$419.51
$95.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$7.99
$275.00
$0.00
$85.00
$170.00
$0.00
$0.00
$30.00
$615.00
$35.00
$5,050.00

Surplus / (Deficit)

$100.00

Savings / Debt

$100.00

Hopeful Proposed Budget

August

September October

November December

January

$4,800.00
$350.00
$5,150.00

$4,800.00
$350.00
$5,150.00

$4,800.00
$350.00
$5,150.00

$4,800.00
$350.00
$5,150.00

$4,800.00
$350.00
$5,150.00

$4,800.00
$350.00
$5,150.00

$200.00
$1,149.00
$582.82
$158.00
$34.67
$274.37
$280.85
$92.72
$65.07
$419.51
$95.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$7.99
$275.00
$0.00
$85.00
$170.00
$0.00
$0.00
$30.00
$615.00
$35.00
$5,050.00

$200.00
$1,149.00
$582.82
$158.00
$34.67
$274.37
$280.85
$92.72
$65.07
$419.51
$95.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$7.99
$275.00
$0.00
$85.00
$170.00
$0.00
$0.00
$30.00
$615.00
$35.00
$5,050.00

$200.00
$1,149.00
$582.82
$158.00
$34.67
$274.37
$280.85
$92.72
$65.07
$419.51
$95.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$7.99
$275.00
$0.00
$85.00
$170.00
$0.00
$0.00
$30.00
$615.00
$35.00
$5,050.00

$200.00
$1,149.00
$582.82
$158.00
$34.67
$274.37
$280.85
$92.72
$65.07
$419.51
$95.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$7.99
$275.00
$0.00
$85.00
$170.00
$0.00
$0.00
$30.00
$615.00
$35.00
$5,050.00

$200.00
$1,149.00
$582.82
$158.00
$34.67
$274.37
$280.85
$92.72
$65.07
$419.51
$95.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$7.99
$275.00
$0.00
$85.00
$170.00
$0.00
$0.00
$30.00
$615.00
$35.00
$5,050.00

$200.00
$1,149.00
$582.82
$158.00
$34.67
$274.37
$280.85
$92.72
$65.07
$419.51
$95.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$7.99
$275.00
$0.00
$85.00
$170.00
$0.00
$0.00
$30.00
$615.00
$35.00
$5,050.00

$100.00

$100.00

$100.00

$100.00

$100.00

$100.00

$200.00

$300.00

$400.00

$500.00

$600.00

$700.00

February

March

April

May

June

$4,800.00
$350.00
$5,150.00

$4,800.00
$350.00
$5,150.00

$4,800.00
$350.00
$5,150.00

$4,800.00
$350.00
$5,150.00

$4,800.00
$350.00
$5,150.00

$200.00
$1,149.00
$582.82
$158.00
$34.67
$274.37
$280.85
$92.72
$65.07
$419.51
$95.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$7.99
$275.00
$0.00
$85.00
$170.00
$0.00
$0.00
$30.00
$615.00
$35.00
$5,050.00

$200.00
$1,149.00
$582.82
$158.00
$34.67
$274.37
$280.85
$92.72
$65.07
$419.51
$95.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$7.99
$275.00
$0.00
$85.00
$170.00
$0.00
$0.00
$30.00
$615.00
$35.00
$5,050.00

$200.00
$1,149.00
$582.82
$158.00
$34.67
$274.37
$280.85
$92.72
$65.07
$419.51
$95.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$7.99
$275.00
$0.00
$85.00
$170.00
$0.00
$0.00
$30.00
$615.00
$35.00
$5,050.00

$200.00
$1,149.00
$582.82
$158.00
$34.67
$274.37
$280.85
$92.72
$65.07
$419.51
$95.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$7.99
$275.00
$0.00
$85.00
$170.00
$0.00
$0.00
$30.00
$615.00
$35.00
$5,050.00

$200.00
$1,149.00
$582.82
$158.00
$34.67
$274.37
$280.85
$92.72
$65.07
$419.51
$95.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$7.99
$275.00
$0.00
$85.00
$170.00
$0.00
$0.00
$30.00
$615.00
$35.00
$5,050.00

$100.00

$100.00

$100.00

$100.00

$100.00

$800.00

$900.00

$1,000.00

$1,100.00

$1,200.00

Excess income to go towards debt reduction on the proposed budget plan

Car Loan
Medical Bill
Credit Card #2
Gas Credit Card
Credit Card #1
Credit Card #3
Credit Union Loan
Begin Putting $400 In Your 401k
2nd Mortgage (Begin Adding $800)
1st Mortgage

$6,000.00
$1,000.00
$12,619.08
$19,225.00
$5,200.00
$1,969.78
$1,876.97
$49,612.40
$119,412.57
$216,915.80

Month Minimum Payment Amount Original Debt

0
0
1
$200
$5,200
18
$65.07
$1,867.97
20
34.67
1000
22
92.72
1969.78
23
$158
6000
27
$274.37
$12,619.08
33
280.85
19225
42
150 42
$582.82
$49,612.40
53
1149
119412.57

APR %

12.0%
15.0%
11.0%
6.0%
7.0%
12.0%
15.0%
9.5%
6.0%

Minimum Payments Already Paid

0
1106.19
658.73
1947.12
3476
7133.62
8987.2
6150
23895.62
59748

Current Payment

$158.00
$34.67
$274.37
$280.85
$200.00
$92.72
$65.07
$582.82
$1,149.00
$2,837.50

Balance at Time of Added Reduction PaymentNew Payment Amount

5200
$300
$761.78
$365
$341.27
$400
$22.66
$492
$2,524.00
$650
$5,485.46
$925
$10,237.80
$1,206
6150+original balance amount in month 1
550
$25,716.78
1788.82
$59,664.57
2937.82

Payments Remaining

48
36
60
84
28
24
36
142
147

Description
Credit Card #1
Credit Card #2
Credit Card #3
Credit Union Loan
Car Loan
Gas Credit Card
Medical Bill
2nd Mortgage
1st Mortgage
Total debt

Number of Months To Pay Off Debt

0
17.3
2.1
0.9
0.05
3.9
5.9
8.5
14.4
20.3

Total Number of Months Paying Off DebtCash Freed Up

0
100
17.3
$200
19.4
$65
20.3
$35
20.3
$93
24.2
$158
30.1
$274
38.6
$281
$0
53.0
582.82
73.3
1149

New Debt Reduction Amount

100
$300
$365
$400
$492
$650
$925
$1,206
1206
1788.82
2937.82