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how much money they spend in a month and how much money can they save if suggested a better for that family to save money?

how much money they spend in a month and how much money can they save if suggested a better for that family to save money? see the charts below
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The Garcias' Information Sheet troduction: The Garcias feel like they are not sure where their money seems to be going and ould like to start a monthly budget plan. They have provided you with the following details in opes that you will create a budget reflecting their current situation and then make possible commendations to help them manage their money better. - Mike and Keshia Garcia currently have three children (ages 14, 9, and 7) and a Chihuahua named Bella. Mike works as an assistant manager at a department store. His current annual salary is $60,900. They have barely started saving for retirement and are not receiving full matching funds from the company for their 401k. To qualify for the maximum matching funds from Mike's employer, they would need to triple their current contributions, which they hope to start doing. - They feel like they have too much credit card debt and want to be able to pay it off in three years. They also want to start setting aside some money for family savings for things such as emergencies and vacation. - Each month Mike's payroll deductions include \$273.67 for federal income tax and $388.24 for their FICA (Social Security and Medicare) tax. Currently $50.75 is being deducted and deposited into their 401k. - Probably one of the biggest concerns for the Garcias right now is getting on top of the credit-card debt. Their credit score is 635 , so their MasterCard, with a current balance of $3654, is being assessed an 18% APR finance charge. They are currently paying the minimum monthly payment of $102. They have decided to not put any more charges on this card and want to pay off their debt within three years. - The family bought a home 5 years ago for the sales price of $235,000. Their loan is for 30 years at a fixed rate of 6% APR with a 10% down payment. Their Home Owner's Association fee is $112.50 quarterly. To safeguard against theft, fire, and other calamities, they carry homeowner's insurance with an annual premium of $1111.80. They are insuring their home with a different company than their vehicle insurance company and hope to combine both types of policies with the same insurer to save 15% on premiums. The Garcias pay $1116.90 every six months for county property taxes on their home and lot. - They currently pay a monthly cable TV bill of $65.47, a landline phone billot $32.56, an Intemet provider bill of $43.68, and a cell phone bill of $109.45. Their utility bills for electricity and water/sewer are $118.68 and $80.24 respectively. - The Garcia's are a two-vehicle family. They own an older mini-van that is paid for, but recently purchased a brand new Ford F-150. They had to borrow $27,500 at a 7% APR for 6 years. They have estimated that they spend about $300 per year on vehicle maintenance and their auto insurance premium is $586.50 every six months. Lately, they have been averaging about $150 per month on gasoline for the van and truck combined. - The family typical spends $625 monthly average on groceries and about $125 at restaurants. Both Mike and Keshia belong to a local health club and spend $12 each per month on membership dues. Their monthly expenditures include $100 for clothing. entertainment is $75, household supplies $50, miscellaneous items $50, and their monthly dog food and vet bills for Bella average about $42. They also pay approximately $40 to various charities each month. - Finally, the Garcias are doing their best to protect the family with health and life insurance policies. Currently they pay $593.67 monthly health insurance premium and $54.31 monthly life insurance premium. Garcia Family Suggested Monthly Budget The Garcias' Information Sheet troduction: The Garcias feel like they are not sure where their money seems to be going and ould like to start a monthly budget plan. They have provided you with the following details in opes that you will create a budget reflecting their current situation and then make possible commendations to help them manage their money better. - Mike and Keshia Garcia currently have three children (ages 14, 9, and 7) and a Chihuahua named Bella. Mike works as an assistant manager at a department store. His current annual salary is $60,900. They have barely started saving for retirement and are not receiving full matching funds from the company for their 401k. To qualify for the maximum matching funds from Mike's employer, they would need to triple their current contributions, which they hope to start doing. - They feel like they have too much credit card debt and want to be able to pay it off in three years. They also want to start setting aside some money for family savings for things such as emergencies and vacation. - Each month Mike's payroll deductions include \$273.67 for federal income tax and $388.24 for their FICA (Social Security and Medicare) tax. Currently $50.75 is being deducted and deposited into their 401k. - Probably one of the biggest concerns for the Garcias right now is getting on top of the credit-card debt. Their credit score is 635 , so their MasterCard, with a current balance of $3654, is being assessed an 18% APR finance charge. They are currently paying the minimum monthly payment of $102. They have decided to not put any more charges on this card and want to pay off their debt within three years. - The family bought a home 5 years ago for the sales price of $235,000. Their loan is for 30 years at a fixed rate of 6% APR with a 10% down payment. Their Home Owner's Association fee is $112.50 quarterly. To safeguard against theft, fire, and other calamities, they carry homeowner's insurance with an annual premium of $1111.80. They are insuring their home with a different company than their vehicle insurance company and hope to combine both types of policies with the same insurer to save 15% on premiums. The Garcias pay $1116.90 every six months for county property taxes on their home and lot. - They currently pay a monthly cable TV bill of $65.47, a landline phone billot $32.56, an Intemet provider bill of $43.68, and a cell phone bill of $109.45. Their utility bills for electricity and water/sewer are $118.68 and $80.24 respectively. - The Garcia's are a two-vehicle family. They own an older mini-van that is paid for, but recently purchased a brand new Ford F-150. They had to borrow $27,500 at a 7% APR for 6 years. They have estimated that they spend about $300 per year on vehicle maintenance and their auto insurance premium is $586.50 every six months. Lately, they have been averaging about $150 per month on gasoline for the van and truck combined. - The family typical spends $625 monthly average on groceries and about $125 at restaurants. Both Mike and Keshia belong to a local health club and spend $12 each per month on membership dues. Their monthly expenditures include $100 for clothing. entertainment is $75, household supplies $50, miscellaneous items $50, and their monthly dog food and vet bills for Bella average about $42. They also pay approximately $40 to various charities each month. - Finally, the Garcias are doing their best to protect the family with health and life insurance policies. Currently they pay $593.67 monthly health insurance premium and $54.31 monthly life insurance premium. Garcia Family Suggested Monthly Budget

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