Each month, Victor's payroll deductions include $352.05 for federal income tax, $152.50 for state income tax, and $382.26 for their FICA (Social Security and Medicare) tax. Currently $36.17 is being deducted and deposited into their 401k. Their current MasterCard balance is $7,730 and is being assessed an 18% APR finance charge and they have a minimum payment of $115 monthly. The family bought a home 5 years ago for $250,000. Their loan is for 30 years at a fixed rate of 6% APR and their monthly payment is $1,456. To safeguard against theft, fire, and other calamities, they carry homeowner's insurance with an annual premium of $965. The Finch's pay $688 every six months for property taxes on their home and lot. They currently pay a monthly cable TV bill of $75.49, a landline phone bill of $22.50, and internet provider bill of $51.68, and a cellphone bill of $112.56. Their utility bills for electricity, natural gas, and water/sewer/garbage are $37.56, $99.65, and $55.82 respectively. The Finches are a two vehicle family. They own an older pickup truck that is paid for, but recently purchased a new Jeep Grand Cherokee. They had to borrow $35,000 at 7% APR, which resulted in a $612 monthly payment. They have estimated that they spend about $430 per year on vehicle maintenance and their vehicle insurance premium is $468 every six months. Lately, they have been averaging about $210 per month on gasoline for the truck and Jeep combined. . Because the family rarely plans out their weekly meals or uses coupons $675 is a typical monthly average on groceries. They eat out quite often and spend about $175 at restaurants. Both Victor and Kaylee belong to a local health club and spend $53 per month on membership dues, their clothing expenditures average about $90 for the family, entertainment is $75, household supplies about $35, miscellaneous items $70, and their monthly dog food and vet bills for their golden retriever average about $46. They also pay make $75 in charitable contributions each month. . Finally, the Finch's are doing their best to protect the family with health and life insurance policies. Currently they pay $201.59 towards health insurance each month, and $36.48 towards life insurance each month. What is the family's net monthly cash flow? What are some expenses they might not need? Each month, Victor's payroll deductions include $352.05 for federal income tax, $152.50 for state income tax, and $382.26 for their FICA (Social Security and Medicare) tax. Currently $36.17 is being deducted and deposited into their 401k. Their current MasterCard balance is $7,730 and is being assessed an 18% APR finance charge and they have a minimum payment of $115 monthly. The family bought a home 5 years ago for $250,000. Their loan is for 30 years at a fixed rate of 6% APR and their monthly payment is $1,456. To safeguard against theft, fire, and other calamities, they carry homeowner's insurance with an annual premium of $965. The Finch's pay $688 every six months for property taxes on their home and lot. They currently pay a monthly cable TV bill of $75.49, a landline phone bill of $22.50, and internet provider bill of $51.68, and a cellphone bill of $112.56. Their utility bills for electricity, natural gas, and water/sewer/garbage are $37.56, $99.65, and $55.82 respectively. The Finches are a two vehicle family. They own an older pickup truck that is paid for, but recently purchased a new Jeep Grand Cherokee. They had to borrow $35,000 at 7% APR, which resulted in a $612 monthly payment. They have estimated that they spend about $430 per year on vehicle maintenance and their vehicle insurance premium is $468 every six months. Lately, they have been averaging about $210 per month on gasoline for the truck and Jeep combined. . Because the family rarely plans out their weekly meals or uses coupons $675 is a typical monthly average on groceries. They eat out quite often and spend about $175 at restaurants. Both Victor and Kaylee belong to a local health club and spend $53 per month on membership dues, their clothing expenditures average about $90 for the family, entertainment is $75, household supplies about $35, miscellaneous items $70, and their monthly dog food and vet bills for their golden retriever average about $46. They also pay make $75 in charitable contributions each month. . Finally, the Finch's are doing their best to protect the family with health and life insurance policies. Currently they pay $201.59 towards health insurance each month, and $36.48 towards life insurance each month. What is the family's net monthly cash flow? What are some expenses they might not need
