A Future Home Buyer's Must-Do Project

Topics: Money, Payment, Credit card Pages: 2 (669 words) Published: April 9, 2013
Angel Wolfe
Mrs. Jean Freeman
1 April 2013
A Future Home Buyer’s Must-Do Project
Chapter 10-C
I am going to graduate at the end of this semester and I’m going to get a job as an RN at a hospital of my choses. If it is possible I would like to work at ACMC. After I get the job and start making some good money. I will be putting money every month into my savings so I can start saving to buy a house in five years. My husband and I would love to have our own house that we can call ours. I found a Nursing job that may work out for me. I job I found pays $20.72 an hour. Sounds like it would work out for me. I never had a job where I make $20 dollars an hour. The most I ever made was 12.30 an hour. This would give me 198,912.00 dollars in five years without anything coming out of it. That would be my gross pay, but my net pay would be in five years 14,520.48 dollar. That is my net pay. Every month my take home pay is 1,210.04 dollars. But then I have to take out money for the bills and try and put some into my savings so I can buy a house in 5 years. This is the brake down of the bills…

Phone130.00Netflix 20.00T.V 41.00
Lights130.00Water 50.00
And with all that added up I have to pay 643.00 dollars out of my pay for the bills, and also they will be taking out 20% in federal (165.76 dollars) and 7% in state (58.02 dollars) and put 10% in the bank which is 121.04 dollars times (2) every month (242.08 in the bank every pay day). I will get 3% interest on it which is 7.30 dollars more every month. Hope that I can do it. This is if my husband don’t help me out, he is working and if we do the bills 50/50 then I can do it.

There is a house that I’m looking at in Geneva. The cost of it is 199,000.00 dollars and if I can do it right then I got it made. If I pull 10% out of my pay and put it in the bank then I think it will work, but I would need 15% of the down payment and that is 29,850.00 dollars for the down payment....
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