Midi and Charles are in their early 30s and have just purcha…
Midi and Charles are in their early 30s and have just purchased their first home. Their combined after-tax income is $80,000. The house is worth $275,000 with a $200,000 mortgage. They own a car worth $15,000 with a $8,000 loan. There is also a piece of land Midi inherited worth $20,000. Their student loans total $30,000 and they currently owe $2700 on their credit cards. In addition, Charles owes his uncle $18,000 for helping pay for his tuition to grad school. They put $200/mo into their savings account which is currently worth $3,400. What is their net worth?
Read DetailsMandy has just been promoted and her take home pay has incre…
Mandy has just been promoted and her take home pay has increased from $40,000/year to $45,000/year. Her monthly expenses include: $1750/mo in rent and other housing-related expenses $450/mo for student loan; $350/mo for her credit card; $650/mo for her car loan Her other expenses total $800. What is Mandy’s cash flow at the end of each month? How much does she have left or as a deficit (or breakeven)?
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