My Financial Future Tessa Sleeth Book 2 Year

My Financial Future Tessa Sleeth Book 2 Year 2

Shooting for the Cars Through the completion of this project, along with a Personal Finance class, I have been exposed to information that most teens end up learning later in life. For my final “exhibit, ” I will develop a Savings Plan which will end with the purchase of a car.

The Body The skeleton to this plan is Dave Ramsey’s 10/10/80 Principle. The 10/10/80 Principle is used in both budgeting and tackling debt. You save 10% of your income, tithe or give 10%, and spend the remaining 80%. This principle is popular with parents to teach their children but the spend and save categories would typically be swapped. I will be using the swapped method as I do not yet pay bills.

Start Your Engines! Hopefully, as you are reading this, I will have a job. I need money to buy a car, so I obviously need to earn it. I already have a good chunk of money saved, but I am far from my goal. I have been making financial goals as long as I have been given money, but this is a far bigger goal. Considering I don’t know how much I will be making, my time frame for my goal cannot be too specific. Regardless, I would like to reach it by then end of high school. This may mean not only working through my two remaining summers, but possibly though the school year.

Winning the Race No matter how long it takes me, I know I will be able to reach this goal. Between the four years of this project, two years of classes with a business teacher, and my own personal experiences, I know how to mindfully save and spend money. My determination will have to carry me to the finish line.

The Contenders Jeep Liberty- $7, 000$12, 000 Toyota Tacoma- $11, 000 - $16, 000 Small Sedans- $3, 000$12, 000 800 -1, 375 hours at minimum wage 1, 260 -1, 830 hours at minimum wage 345 -1, 375 hours at minimum wage I currently have around $3, 000 to put into a car, which would cut each of these down by about 345 hours of working. The maximum amount of hours would rack up to be about 248 days of six hours shifts. Because of this, the Toyota Tacoma option is a little far out.