Financial Story
Marino and Fermin both went to College right after they both could get ready for it. Sadly, they both went to different colleges since they wanted different majors. Fermin wanted to be a veterinarian so he decided to go to UC Davis. Lucky for him, he worked hard all through higschool and got scholarships that paid off everything for college.
But his charges for school were:
1st Year (10 months)\ | 2nd Year (10 months) | 3rd Year (10 months) | 4th year (12 months) | |
Registration Fees | $27,045 | $27,045 | $27,045 | |
Books & Supplies | $3,856 | $2,247 | $3,385 | |
Housing | $9,165 | $9,165 | $9,165 | |
Food | $3,705 | $3,705 | $3,705 | |
Personal | $2,362 | $2,362 | $2,362 | |
Transportation | $1,788 | $1,788 | $1,788 | |
TOTAL | $47,921 | $46,321 | $47,450 |
Marino wanted to be a business man and decided to go to UCLA, he got an academic scholarship which only paid for the classes and books. All he needed was a place to stay while he was attending collage in L.A. considering he had no relatives or friends that lived near UCLA, Marino was able to find a place to stay on campus in one of the rooms for the students. It coasted $4020.02 in total. He was very upset knowing he didn't have $4020.02 up front. He remembered that in 11th grade, his teacher was helping them plan for the future and realized he was able to obtain a student loan for his room. He then got a loan for the amount of money that he needed which he could than afford the room. By getting a loan, Marino only had to pay $335.03 a month for 12 months. Marino was then thankful for the loan he was able to get as a student knowing he didn't have credit at the time.
After they both spent time in school, they both moved to San Francisco with their two kids and rented an apartment for $2,525.00 a month, it had two bedrooms and two bathrooms; the apartment was convenient for both of them and their two kids. Marino and Fermin made just enough to afford the monthly cost of the apartment in cash, no need for a loan. Both Marino and Fermin were making roughly around $6,000 dollars each. In total after taxes, they were able to obtain (if buisness was good for Marino) around $10,225.27 a month. Even though Fermin and Marino were making big bucks, they knew they had to save money for retierment and their children's collage so they then could also have it easy, just like Fermin.
BUDGET:
| INCOME | $10,225.27 | |||
| Savings Payment | Note: | |||
| Total Budget | $10,225.27 | 100.00% | ||
| Difference | 0.00 | |||
| February | Sub Total | Total | Actually Spent | %of take home pay |
| Giving | $1,200.00 | 11.74% | ||
| Red Cross | $400.00 | |||
| Make-A-Wish | $400.00 | |||
| Church | $400.00 | |||
| Saving | $2,439.73 | 23.86% | ||
| Medical | $39.73 | |||
| Kids Collage | $1,200.00 | |||
| Retierment | $1,200.00 | |||
| Housing | $2,760.00 | 26.99% | ||
| Renters insurance | $235.00 | |||
| Lakewood | $2,525.00 | |||
| Utilities | $578.26 | 5.66% | ||
| SFGE | $235.04 | |||
| AT&T | $343.22 | |||
| Cal Sub | ||||
| Food | $350.00 | 3.42% | ||
| Grocery * | $300.00 | |||
| Restaurants* | $50.00 | |||
| Transportation | $475.00 | 4.65% | ||
| Gas | $240.00 | |||
| Maintenance | $20.00 | |||
| License | $200.00 | |||
| Insurance | $15.00 | |||
| Clothing | $150.00 | 1.47% | ||
| Fermin | $75.00 | |||
| Marino | $25.00 | |||
| Kids | $50.00 | |||
| Medical | $140.00 | 1.37% | ||
| Doctor | $40.00 | |||
| Dentist | $50.00 | |||
| Medications | $50.00 | |||
| Personal | $890.00 | 8.70% | ||
| Life Insurance | $225.00 | |||
| Childcare* | $200.00 | |||
| Babysitter* | $75.00 | |||
| Cosmetics* | $25.00 | |||
| Toiletries* | $35.00 | |||
| Haircare* | $30.00 | |||
| Fun Money | $300.00 | |||
| Recreation | $907.25 | 8.87% | ||
| Vacation | $750.00 | |||
| Entertainment | $157.25 | |||
| Debt | 335.03 | 3.28% | ||
| Marino Collage Debt | 335.03 |
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