Sheet 9-9 and 43 in images below
2. Conduct an analysis to compare renting and buying o PFP Sheet 42 3 Compare various rental alternatives as needed Determine what housing and mortgage payments you pare various sources of mortgages PFP Sheet 43. 44 www.mortgagelol.com www.bankrate 4. could afford, and com- www.hsh.com Resources Your Long-Term Financial Planning Activities 1. Monitor changing interest rates and assess refinancing a PFP Sheet 45 www.interest.com www.mortgagelo1.com Develop a plan for assessing your housing needs and costs 2. www.realestatejournal.com in the future. CONTINUING CASE The Housing Decision: Factors and Finances Five years have passed and Jamie Lee, 34, is considering taking the plunge-she is not debating whether to purchase a new home. Jamie Lee's cupcake caf is a success! It has been open for over a year and has earned rave reviews in the local press and frirst week of business, is Ross. After a whirlwind courtship. Ross, agreed to be his wife. from cannot get enough of her delicious cupcakes. One such customer, who stopped by on a whim in the catle a self employed web page designer, proposed, and Jamie Le The bungalow that Jamie Lee has been renting for the past five years is too small for the soon-to-be newlyweds, so Jamie le and Ross are trying to decide if they should move to another rental or purchase a home of their own. They agreed to visit their loa banker to get an idea of how much home they can afford with their combined incomes Current Financial Situation Assets (Jamie Lee and Ross combined): Checking account:$4,300 Savings account: $55.200 Income: Jamie Lee: $45,000 gross income ($31.500 net income after taxes) Ross: $70,000 gross income ($59,000 net income after taxes) Emergency fund savings account: $19,100 IRA balance: $24.000 Cars: $12,000 (Jamie Lee) and S20,000 (Ross) Monthly Expenses (Jamie Lee and Ross combine): Utilities: S160 Food: S32 Gas/maintenance: $275 Credit card payment: SO Car loan payment: $289 Entertainment:$300 Liabilities (Jamie Lee and Ross combined): Student loan balance: So Credit card balance: SO Car loans: $8,000 316 2. Conduct an analysis to compare renting and buying o PFP Sheet 42 3 Compare various rental alternatives as needed Determine what housing and mortgage payments you pare various sources of mortgages PFP Sheet 43. 44 www.mortgagelol.com www.bankrate 4. could afford, and com- www.hsh.com Resources Your Long-Term Financial Planning Activities 1. Monitor changing interest rates and assess refinancing a PFP Sheet 45 www.interest.com www.mortgagelo1.com Develop a plan for assessing your housing needs and costs 2. www.realestatejournal.com in the future. CONTINUING CASE The Housing Decision: Factors and Finances Five years have passed and Jamie Lee, 34, is considering taking the plunge-she is not debating whether to purchase a new home. Jamie Lee's cupcake caf is a success! It has been open for over a year and has earned rave reviews in the local press and frirst week of business, is Ross. After a whirlwind courtship. Ross, agreed to be his wife. from cannot get enough of her delicious cupcakes. One such customer, who stopped by on a whim in the catle a self employed web page designer, proposed, and Jamie Le The bungalow that Jamie Lee has been renting for the past five years is too small for the soon-to-be newlyweds, so Jamie le and Ross are trying to decide if they should move to another rental or purchase a home of their own. They agreed to visit their loa banker to get an idea of how much home they can afford with their combined incomes Current Financial Situation Assets (Jamie Lee and Ross combined): Checking account:$4,300 Savings account: $55.200 Income: Jamie Lee: $45,000 gross income ($31.500 net income after taxes) Ross: $70,000 gross income ($59,000 net income after taxes) Emergency fund savings account: $19,100 IRA balance: $24.000 Cars: $12,000 (Jamie Lee) and S20,000 (Ross) Monthly Expenses (Jamie Lee and Ross combine): Utilities: S160 Food: S32 Gas/maintenance: $275 Credit card payment: SO Car loan payment: $289 Entertainment:$300 Liabilities (Jamie Lee and Ross combined): Student loan balance: So Credit card balance: SO Car loans: $8,000 316
