Friday, April 11, 2014

Your Life Situation Card and A Budget

  1. What did you notice about your Gross Annual Income and the Net Monthly Income.  Were you surprised and/or disappointed at the amount of taxes taken from your paycheck each month?  What was your Net Monthly Income and do you think it would be realistic to live on that type of budget with your current lifestyle?  Explain!

I'm not that surprised because my family talks about how much taxes they take away  from people it may add with time I had a family so It does make it more difficult when they take money away. No because I'm not married or have two human babies
  1. What was your impression of the Budget Guidelines worksheet.  Which of the categories listed seem most important to you to budget for and which categories seem least important?  Do you think the breakdown of how much you can spend in each category works well for your envisioned lifestyle?
In my situation I don't have kids therefore I don't have that many expenses. Second my bill will probably be more high just because houses are more expensive.i have Pets that are like my children so money goes to them in there needs like food and yearly check ups. 
  1. Lastly, in looking for housing, what did you find your adjusted monthly mortgage payment to be if you bought a home vs. the amount it would cost you each month to rent?  Does this make you reconsider the possibility of purchasing a home vs. renting one?  What are the pros and cons of renting?  What are the pros and cons of owning a home?  In filling out the home buying sheet, what would appear to be the biggest barrier in your purchasing of a home

I go for buy a home it's better it goes a long away it might be expensive but it's probably the best chose because you own it and it seems more reasonable. It's better apartments are strict and hard to stay in  


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