This iReport is part of an assignment:
In need of a Money Coach?
1
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About this iReport
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Posted October 26, 2009
by
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Location
Dansville, New York
Dansville, New York
Assignment
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I want a Money Coach
My wife Colleen and I both work and we have three children (ages 5.8, 4.5 and 1 year old).
I have become quite frugal in the last few years.
Currently I am 37 yrs old and make $45,000 after a 10% paycut. My wjfe (30yrs old) works part time (3-4 nights/days) and brings home on average $450/2 weeks after a 6% paycut.
Our monthly payments are:
Mortgage/Escrow 1014
elestric/phone/cable 200
Life/accedent ins 240*
auto loan/lease 640
Gas/Auto repair/service 250
Auto Ins (3 auto's) 150
Groceries 550
Walmart/misc 150
Propane for home 125
Timeshare fees :( 75**
HELOC interest 30
Total monthly payout $3424
Monthly income about $3425 - $3424 = $1 balance
Chad & Colleen's Debt:
Mortgage (5.875% fixed 13.5 years left) 57,500
HELOC (Prime rate upto 50,000) 8,900
Discover card gets paid in full ever month :)
*Are we over Insured?
chad: 57K term life, 60K whole life
Colleen: 50K? whole life
all: additional health and accident insurance that pays us for emergency room visits and if addmitted to Hosp.
**How do I find a legit reseller for my timeshares?
I have spent at least $1500 and only have hesitation in trying again to show for it.
- TAGS:
- clark_howard,
- headline_news,
- money_coach
- GROUPS:
- Morning Express,
- HLNtv,
- My life
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