Current Financial Situation Assets: Checking account Savings account Emergency fund savings account IRA balance Car (Jamie Lee) Car (Ross) Liabilities: Student loan balance Credit card balance. Car loans Original purchase price of home Income: $4,300 Gross income (Jamie Lee) $50,000 $22,200 Net income after taxes (Jamie Lee) $37,500 $20,500 Gross income (Ross) $75,000 $26,000 Net income after taxes (Ross) $64,000 $10,000 Monthly Expenses: $18,000 Mortgage Property taxes and insurance $0 Utilities $2,000 Food $6,000 Gas/maintenance $273,000 Credit card payment Car loan payment Entertainment Real Property (not applicable to renters) Current replacement value of home Personal Property Estimated value of appliances, furniture, clothing, and other household items (conduct an inventory) Type of coverage for personal property Replacement value Additional coverage for items with limits on standard personal coverage such as jewelry, firearms, silverware, and photographic, electronic, and computer equipment Diamond wedding band set Personal Liability Amount of additional personal liability coverage desired for possible personal injury claims $ 21,000.00 Specialized Coverages If appropriate, investigate flood or earthquake coverage excluded from home insurance policies Total Property Insurance Needed 2,000.00 $1,225 $500 $195 $400 $275 $250 $289 $300