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SO YOU WANT TO GET MARRIED? Melissa C, Teresa, Udrea, Gabriella, Marco
INCOME WIFE  HUSBAND ANNUALY ANNUALY $ 40, 000 $ 40, 000 COMBINED INCOME: $ 80,000 IN SAVINGS: $30, 000
Did you think it was  easier after “I DO”  <ul><li>Purchasing a house is the first step to being married. Didn’t think you...
Mortgage Costs <ul><li>Home costs: $189,000 </li></ul><ul><li>Amount Financed: $180,405 </li></ul><ul><li>Down Payment of:...
241 West Avenue North
Telephone/Cable <ul><li>Rogers Cable costs us about $24.00/ month. </li></ul><ul><li>This includes local calling only, and...
Groceries <ul><li>We decided to go grocery shopping every other week.  </li></ul><ul><li>We figured it is easier to stock ...
Clothing <ul><li>Clothing is something we both have, it isnt much we need to constantly go shopping for.  </li></ul><ul><l...
Clothing Costs <ul><li>After our shopping trip we bought the following items: </li></ul><ul><li>Victoria Secret Bathing su...
Hydro Bill <ul><li>We have the following appliances in our home:  </li></ul><ul><li>Dryer, Washer, Refrigerator, dishwashe...
Transportation <ul><li>As a family car, we have chosen to purchase a black 2010 Mitsubishi lancer. </li></ul><ul><li>This ...
Entertainment <ul><li>Once a month we plan on eating out with the money left over. We both enjoy sushi and plan on going o...
We got lucky; Cell phones <ul><li>Both the companies we work for pay for our Blackberry phone bills. Due to the fact we co...
Television <ul><li>We do have a laptop and television in our home. </li></ul><ul><li>We own a Toshiba 32” LCD HDTV </li></...
Internet  <ul><li>We have our Internet with Rogers, as well as our phones and cable.  </li></ul><ul><li>Having our blackbe...
Miscellaneous & Incidentals <ul><li>Monthly Savings </li></ul><ul><li>Charitable Donations (Church, other charities) </li>...
Charitable Donations <ul><li>We feel very strongly about helping with charity.  </li></ul><ul><li>We go to church every Sa...
Weekly Allowances <ul><li>Our allowanced together will be between $200 - $400, each month is different.  </li></ul><ul><li...
Gifts & Accidents <ul><li>Each gift varies and will be spent in different amounts.  </li></ul><ul><li>If we do not have en...
Monthly Calculations Monthly Taxes: $2024.00 House Payment: $1505.00 Cable: $24.00 Phone: $32.00 Grocery: $400.00 Clothing...
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Group Three - Just Married Budget

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Group Three - Just Married Budget

  1. 1. SO YOU WANT TO GET MARRIED? Melissa C, Teresa, Udrea, Gabriella, Marco
  2. 2. INCOME WIFE HUSBAND ANNUALY ANNUALY $ 40, 000 $ 40, 000 COMBINED INCOME: $ 80,000 IN SAVINGS: $30, 000
  3. 3. Did you think it was easier after “I DO” <ul><li>Purchasing a house is the first step to being married. Didn’t think you would expect this did you? </li></ul><ul><li>You are eligible for 3.5x your income: $280,000. </li></ul><ul><li>Very hard to find a house for under $300,000 in Vaughan </li></ul><ul><li>We moved into a home in Hamilton, Ontario for : $189,000 </li></ul><ul><li>1400 sq.ft, lot size 30 ft F X 137 ft D </li></ul>
  4. 4. Mortgage Costs <ul><li>Home costs: $189,000 </li></ul><ul><li>Amount Financed: $180,405 </li></ul><ul><li>Down Payment of: $9,495.00 </li></ul><ul><li>Mortgage Payment: $1,218.11 </li></ul><ul><li>Because less than 20% was put down, $99.22 is added to our monthly payment (PMI) </li></ul><ul><li>Monthly taxes are $2024.00 </li></ul><ul><li>Our monthly payment for the house will be: $1505.65 </li></ul><ul><li>With a year we will have spent $14,617.30 on our house. </li></ul>
  5. 5. 241 West Avenue North
  6. 6. Telephone/Cable <ul><li>Rogers Cable costs us about $24.00/ month. </li></ul><ul><li>This includes local calling only, and no long distance calling. </li></ul><ul><li>Our cable is with Rogers as well and costs $32.00/ month. </li></ul><ul><li>This includes all regular channels and no super channels. </li></ul><ul><li>However being a new member we got a free Rogers on demand HD box. </li></ul>
  7. 7. Groceries <ul><li>We decided to go grocery shopping every other week. </li></ul><ul><li>We figured it is easier to stock up on one grocery trip then popping in and out for items. With doing that you tend to purchase more then you need. </li></ul><ul><li>We also have a list of items we buy so we know what to spend out money on. </li></ul><ul><li>Going every other week and spending about $130.00 will costs us $300- $400 a month . </li></ul>
  8. 8. Clothing <ul><li>Clothing is something we both have, it isnt much we need to constantly go shopping for. </li></ul><ul><li>We try not to spend our money on shopping for clothes, unless they are absolutely needed. </li></ul><ul><li>We did however go shopping for a few needed things. We needed summer clothes for the up coming season. </li></ul>
  9. 9. Clothing Costs <ul><li>After our shopping trip we bought the following items: </li></ul><ul><li>Victoria Secret Bathing suit: $39.98 </li></ul><ul><li>Men’s Forever 21 plaid shirt $9.99 </li></ul><ul><li>Men’s Forever 21 jean shorts $10.99 </li></ul><ul><li>Dynamite t shirt $5.00 </li></ul><ul><li>H&M shorts $19.99 </li></ul><ul><li>Total cost for shopping spree: $85.95 </li></ul>
  10. 10. Hydro Bill <ul><li>We have the following appliances in our home: </li></ul><ul><li>Dryer, Washer, Refrigerator, dishwasher, coffee maker, stove, laptop, television, air conditioner, and a heater. </li></ul><ul><li>Each month my Power bill will equal around </li></ul><ul><li>$160.00 / month. </li></ul>
  11. 11. Transportation <ul><li>As a family car, we have chosen to purchase a black 2010 Mitsubishi lancer. </li></ul><ul><li>This lancer is being leased and will cost us $17.758.00 </li></ul><ul><li>Our monthly payments will be $206.30/ monthly . Our monthly cost for our insurance is $190.00 </li></ul>
  12. 12. Entertainment <ul><li>Once a month we plan on eating out with the money left over. We both enjoy sushi and plan on going out to our favourite restaurant and spending time together. This meal will cost us $60.00 for the both of us. </li></ul>
  13. 13. We got lucky; Cell phones <ul><li>Both the companies we work for pay for our Blackberry phone bills. Due to the fact we constantly need to be on them to check our emails we have one less thing to worry about. </li></ul>
  14. 14. Television <ul><li>We do have a laptop and television in our home. </li></ul><ul><li>We own a Toshiba 32” LCD HDTV </li></ul><ul><li>We purchased this television for $349.99, regular price was $399.99 we have saved $50.00. </li></ul>
  15. 15. Internet <ul><li>We have our Internet with Rogers, as well as our phones and cable. </li></ul><ul><li>Having our blackberry’s we don’t use the internet too much so we reduced the cost in Internet prices by getting the Ultra Lite Roger’s package. </li></ul><ul><li>With a cost of $27.99 on Internet. </li></ul>
  16. 16. Miscellaneous & Incidentals <ul><li>Monthly Savings </li></ul><ul><li>Charitable Donations (Church, other charities) </li></ul><ul><li>Weekly Allowances </li></ul><ul><li>Unexpected gifts </li></ul><ul><li>Accidents ( automobile, loss of something) </li></ul>
  17. 17. Charitable Donations <ul><li>We feel very strongly about helping with charity. </li></ul><ul><li>We go to church every Saturday or alternating Sunday and give $5.00, which adds up to $20/ month. </li></ul><ul><li>We also give money to other charities that tend to come up. </li></ul><ul><li>Friends put together fundraisers and charity events, in witch we donate $20.00 or more. </li></ul>
  18. 18. Weekly Allowances <ul><li>Our allowanced together will be between $200 - $400, each month is different. </li></ul><ul><li>With that money instead of using it we will put it in a jar and at the end of each month what we didn’t use will go into our savings account. </li></ul>
  19. 19. Gifts & Accidents <ul><li>Each gift varies and will be spent in different amounts. </li></ul><ul><li>If we do not have enough for that week to use out of our own pocket then we have to use what we need from the money jar. </li></ul><ul><li>Accidents also might vary, with what we collect in our savings will be used for emergency if we need more. However most again will come out of the money jar we have put aside. </li></ul>
  20. 20. Monthly Calculations Monthly Taxes: $2024.00 House Payment: $1505.00 Cable: $24.00 Phone: $32.00 Grocery: $400.00 Clothing: $80.00 Car: $206.00 Car Insurance: $190.00 Hydro: $160.00 Entertainment: $60.00 Internet: $27.99 Church: $20.00 Charity: $20.00 Monthly Payment: $4748.99 Savings House Down Payment: $9,496.00 Car Down Payment: $5,000.00 Television: $349.99 Total Amount from Savings: $14,844.99 -$30,000.00 =$15,155.01> in Savings Account $4748.99 X 12 = $56, 987.88 Is our annual costs $80,000.00 -$23,012.12 = $1,917.68 more a month

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