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12 Month Budget

Bro. Hopeful
Sis. Hopeful
Total

Income
Gross Combined Income

Expenses
Contributions
Gifts
Internet
Cable TV
Life Insurance
Medical Insurance
Car Insurance
Utilities
Groceries
Home Phone
Cell Phone
School Costs
Gas
Bowling League
Newspaper
Laundry/Dry Cleaning
Misc
Total Expenses
Debt
Credit Card 1
Card 2
Card 3
Credit Union Loan
Car Loan
Gas Credit Card
Medical Bill
Mortgage 1
Mortgage 2
Total Debts
TOTAL DEBT AND EXPENSE
Surplus / (Deficit)
Total Savings/(Debt)

Income
$4,800
$350
$5,150

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$650
$15

$650
$15

$650
$15

$650
$15

$650
$15

$650
$15

$650
$15

$650
$15

$650
$15

$650
$15

$650
$15

$650
$15

$25
$95

$25
$95

$25
$95

$25
$95

$25
$95

$25
$95

$25
$95

$25
$95

$25
$95

$25
$95

$25
$95

$25
$95

$70
$200

$70
$200

$70
$200

$70
$200

$70
$200

$70
$200

$70
$200

$70
$200

$70
$200

$70
$200

$70
$200

$70
$200

$120
$275

$120
$275

$120
$275

$120
$275

$120
$275

$120
$275

$120
$275

$120
$275

$120
$275

$120
$275

$120
$275

$120
$275

$450
$75

$450
$75

$450
$75

$450
$75

$450
$75

$450
$75

$450
$75

$450
$75

$450
$75

$450
$75

$450
$75

$450
$75

$85
$155

$85
$155

$85
$155

$85
$155

$85
$155

$85
$155

$85
$155

$85
$155

$85
$155

$85
$155

$85
$155

$85
$155

$170
$85

$170
$85

$170
$85

$170
$85

$170
$85

$170
$85

$170
$85

$170
$85

$170
$85

$170
$85

$170
$85

$170
$85

$35
$50
$35

$35
$50
$35

$35
$50
$35

$35
$50
$35

$35
$50
$35

$35
$50
$35

$35
$50
$35

$35
$50
$35

$35
$50
$35

$35
$50
$35

$35
$50
$35

$35
$50
$35

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$158.00

$158.00

$158.00

$158.00

$158.00

$158.00

$158.00

$158.00

$158.00

$158.00

$158.00

$158.00

$34.67
$274.37

$34.67
$274.37

$34.67
$274.37

$34.67
$274.37

$34.67
$274.37

$34.67
$274.37

$34.67
$274.37

$34.67
$274.37

$34.67
$274.37

$34.67
$274.37

$34.67
$274.37

$34.67
$274.37

$280.85
$200.00

$280.85
$200.00

$280.85
$200.00

$280.85
$200.00

$280.85
$200.00

$280.85
$200.00

$280.85
$200.00

$280.85
$200.00

$280.85
$200.00

$280.85
$200.00

$280.85
$200.00

$280.85
$200.00

$92.72
$65.07

$92.72
$65.07

$92.72
$65.07

$92.72
$65.07

$92.72
$65.07

$92.72
$65.07

$92.72
$65.07

$92.72
$65.07

$92.72
$65.07

$92.72
$65.07

$92.72
$65.07

$92.72
$65.07

$582.82
$1,149.00

$582.82
$1,149.00

$582.82
$582.82
$1,149.00 $1,149.00

$582.82
$1,149.00

$582.82
$1,149.00

$582.82
$1,149.00

$582.82
$1,149.00

$582.82
$1,149.00

$582.82
$1,149.00

$582.82
$1,149.00

$582.82
$1,149.00

$2,837.50

$2,837.50

$2,837.50 $2,837.50

$2,837.50

$2,837.50

$2,837.50

$2,837.50

$2,837.50

$2,837.50

$2,837.50

$2,837.50

$5,427.50

$5,427.50

$5,427.50 $5,427.50

$5,427.50

$5,427.50

$5,427.50

$5,427.50

$5,427.50

$5,427.50

$5,427.50

$5,427.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$278

-$555

-$833

-$1,110

-$1,388

-$1,665

-$1,943

-$2,220

-$2,498

-$2,775

-$3,053

-$3,330

Total

Retirement Fund
monthy contribution $
years to contribute
rate of return

Total Fund

150.00
30
8%

$223,553.92

12 Month Budget Example


Name
Section
Income Calculations
PT Salary
$4,800
$350
$5,150

Bro
Sis
Total

Income
Gross Combined Income

Expenses
Contributions
Gifts
Internet
Cable TV
Life Insurance
Medical Insurance
Car Insurance
Utilities
Groceries
Home Phone
Cell Phone
School Costs
Gas
Bowling League
Newspaper
Laundry/Dry Cleaning
Misc
Total Expenses

May

Jun

Jul

$0.0
$0.0

$0

Aug

Sep

$0

Oct

$0.0

Nov

Dec

Jan

Feb

Mar

Apr

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$615

$650

$650

$650

$650

$650

$650

$650

$650

$650

$650

$650

$0
$25

$15
$25

$15
$25

$15
$25

$15
$25

$15
$25

$15
$25

$15
$25

$15
$25

$15
$25

$15
$25

$15
$25

$0
$70

$95
$70

$95
$70

$95
$70

$95
$70

$95
$70

$95
$70

$95
$70

$95
$70

$95
$70

$95
$70

$95
$70

$200
$60

$200
$120

$200
$120

$200
$120

$200
$120

$200
$120

$200
$120

$200
$120

$200
$120

$200
$120

$200
$120

$200
$120

$275
$450

$275
$450

$275
$450

$275
$450

$275
$450

$275
$450

$275
$450

$275
$450

$275
$450

$275
$450

$275
$450

$275
$450

$0
$85

$75
$85

$75
$85

$75
$85

$75
$85

$75
$85

$75
$85

$75
$85

$75
$85

$75
$85

$75
$85

$75
$85

$155
$85

$155
$170

$155
$170

$155
$170

$155
$170

$155
$170

$155
$170

$155
$170

$155
$170

$155
$170

$155
$170

$155
$170

$0
$0

$85
$35

$85
$35

$85
$35

$85
$35

$85
$35

$85
$35

$85
$35

$85
$35

$85
$35

$85
$35

$85
$35

$50
$35

$50
$35

$50
$35

$50
$35

$50
$35

$50
$35

$50
$35

$50
$35

$50
$35

$50
$35

$50
$35

$50
$35

$2,105

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$2,590

$158.00
$34.67

$158.00
$34.67

$158.00
$34.67

$158.00
$34.67

$158.00
$34.67

$158.00
$34.67

$158.00
$34.67

$158.00
$34.67

$158.00
$34.67

$158.00
$34.67

$158.00
$34.67

$158.00
$34.67

$274.37
$280.85

$274.37
$280.85

$274.37
$280.85

$274.37
$280.85

$274.37
$280.85

$274.37
$280.85

$274.37
$280.85

$274.37
$280.85

$274.37
$280.85

$274.37
$280.85

$274.37
$280.85

$274.37
$280.85

$200.00
$92.72

$200.00
$92.72

$200.00
$92.72

$200.00
$92.72

$200.00
$92.72

$200.00
$92.72

$200.00
$92.72

$200.00
$92.72

$200.00
$92.72

$200.00
$92.72

$200.00
$92.72

$200.00
$92.72

$65.07
$582.82

$65.07
$582.82

$65.07
$582.82

$65.07
$582.82

$65.07
$582.82

$65.07
$582.82

$65.07
$582.82

$65.07
$582.82

$65.07
$582.82

$65.07
$582.82

$65.07
$582.82

$65.07
$582.82

Credit Card 1
Card 2
Card 3
Credit Union Loan
Car Loan
Gas Credit Card
Medical Bill
Mortgage 1
Mortgage 2
Total Debts

$1,149.00 $1,149.00
$2,837.50 $2,837.50

$1,149.00 $1,149.00 $1,149.00 $1,149.00


$2,837.50 $2,837.50 $2,837.50 $2,837.50

$1,149.00 $1,149.00 $1,149.00


$2,837.50 $2,837.50 $2,837.50

$1,149.00
$2,837.50

$1,149.00 $1,149.00
$2,837.50 $2,837.50

TOTAL DEBT AND EXPENSE

$4,942.50 $5,427.50

$5,427.50 $5,427.50 $5,427.50 $5,427.50

$5,427.50 $5,427.50 $5,427.50

$5,427.50

$5,427.50 $5,427.50

Surplus / (Deficit)
Total Savings/(Debt)

Total

$207.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

-$277.50

$208

-$70

-$348

-$625

-$903

-$1,180

-$1,458

-$1,735

-$2,013

-$2,290

-$2,568

-$2,845

I recommend that this family cancel their cable TV, bowling league membership, home phone, and newspaper subscription. Also, they need to keep paying their titing of
$615 per month, but eliminate the $35 charitable contribution. Lastly, they should park the older car and not use it. As you can see in column B, this will give them a
monthly surplus of $207.50 and will allow them to pay some or all of that money towards their debt. They will also have the older car available in case of an emergency.

Will they have a Surplus


at the end of the 12 months?
a. Yes
b. No

NO

Based on their projected budget, list 3 suggestions for Todd and Melanie
Find some way of having cheap or free dates to cut down on entertainment/clothes costs.

Don't take that vacation.

Take more hours at work/find another job that pays well.

Listing of all debts


Debt
Credit Card #1
Credit Card #2
Credit Card #3
Credit Union Loan
Car Loan
Gas Credit Card
Medical Bill
2nd Mortgage
1st Mortgage

Rate
12.0%
15.0%
11.0%
6.0%
7.0%
12.0%
15.0%
9.5%
6.0%

Total Debt

Principal
$6,000.00
$1,000.00
$12,619.08
$19,225.00
$5,200.00
$1,969.78
$1,876.97
$49,612.40
$119,412.57

Pmts remaining
48
36
60
84
28
24
36
142
147

$216,915.80

Monthly Income Needed???


Annual Income Needed???
How many years to get completely out of debt?
How much in the back when you complete 30 years of payments?

$ / mth
$158.00
$34.67
$274.37
$280.85
$200.00
$92.72
$65.07
$582.82
$1,149.00
$2,837.50
$8,107.14
$97,285.71

1.
2.
3.
4.

Develop a budget
Cut up the credit cards
Find an extra $50 / month
Put together a "roll over plan"

Listing of all debts

Debt
Credit Card #1
Credit Card #2
Credit Card #3
Credit Union Loan
Car Loan
Gas Credit Card
Medical Bill
2nd Mortgage
1st Mortgage

Rate
12.0%
15.0%
11.0%
6.0%
7.0%
12.0%
15.0%
9.5%
6.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$6,000.00
$1,000.00
$12,619.08
$19,225.00
$5,200.00
$1,969.78
$1,876.97
$49,612.40
$119,412.57

$216,915.80

# of Pmts
48
36
60
84
28
24
36
142
147

$ / mth
$158.00
$34.67
$274.37
$280.85
$200.00
$92.72
$65.07
$582.82
$1,149.00

$2,837.50
$8,107.14
$97,285.71

Real Debt

First Debt = $34.67 + $100.00 = $134.67

Month
1
2
3
4
5
6
7
8

Payment
$134.67
$134.67
$134.67
$134.67
$134.67
$134.67
$134.67
$134.67

15.0%
Interest
$12.50
$10.97
$9.43
$7.86
$6.28
$4.67
$3.05
$1.40

Principal
$122.17
$123.70
$125.24
$126.81
$128.39
$130.00
$131.62
$133.27

$1,000.00
Remaining Balance
$877.83
$754.13
$628.89
$502.08
$373.69
$243.69
$112.06
($21.21)

Listing of all debts

Debt
Medical Bill

Rate
15.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$1,876.97

$1,876.97

# of Pmts
36

$ / mth
$65.07

$65.07
$185.91
$2,230.97

Month
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

Second Debt, after 8 mths payment goes to $65.07 + $134.67 = $199.74

Payment
$65.07
$65.07
$65.07
$65.07
$65.07
$65.07
$65.07
$199.74
$199.74
$199.74
$199.74
$199.74
$199.74
$199.74
$199.74
$199.74

15.0%
Interest
$23.46
$22.94
$22.42
$21.88
$21.34
$20.80
$20.24
$19.68
$17.43
$15.15
$12.85
$10.51
$8.14
$5.75
$3.32
$0.87

Principal
$41.61
$42.13
$42.65
$43.19
$43.73
$44.27
$44.83
$180.06
$182.31
$184.59
$186.89
$189.23
$191.60
$193.99
$196.42
$198.87

$1,876.97
Remaining Balance
$1,835.36
$1,793.23
$1,750.58
$1,707.39
$1,663.66
$1,619.39
$1,574.56
$1,394.50
$1,212.20
$1,027.61
$840.71
$651.48
$459.89
$265.89
$69.48
($129.39)

Listing of all debts

Debt
Gas Credit Card

Rate
12.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$1,969.78

$1,969.78

# of Pmts
24

$ / mth
$92.72

Real Debt

$92.72

$0.00

$264.91
$3,178.97

3rd Debt, after 16 mths payment goes to $92.72 + $199.74 =$292.46

Month
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

Payment
$92.72
$92.72
$92.72
$92.72
$92.72
$92.72
$92.72
$92.72
$92.72
$92.72
$92.72
$92.72
$92.72
$92.72
$92.72
$292.46
$292.46
$292.46

12.0%
Interest
$19.70
$18.97
$18.23
$17.49
$16.73
$15.97
$15.21
$14.43
$13.65
$12.86
$12.06
$11.25
$10.44
$9.61
$8.78
$7.94
$5.10
$2.22

Principal
$73.02
$73.75
$74.49
$75.23
$75.99
$76.75
$77.51
$78.29
$79.07
$79.86
$80.66
$81.47
$82.28
$83.11
$83.94
$284.52
$287.36
$290.24

$1,969.78
Remaining Balance
$1,896.76
$1,823.01
$1,748.52
$1,673.28
$1,597.29
$1,520.55
$1,443.03
$1,364.74
$1,285.67
$1,205.81
$1,125.14
$1,043.68
$961.39
$878.29
$794.35
$509.83
$222.47
($67.76)

Listing of all debts

Debt
Credit Card #1

Rate
12.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$6,000.00

$6,000.00

# of Pmts
48

$ / mth
$158.00

Real Debt

$158.00

$0.00

$451.43
$5,417.14

4th Debt, after 18 mths payment goes to $158.00 + $292.46 = $450.46

Month
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27

Payment
$158.00
$158.00
$158.00
$158.00
$158.00
$158.00
$158.00
$158.00
$158.00
$158.00
$158.00
$158.00
$158.00
$158.00
$158.00
$158.00
$158.00
$450.46
$450.46
$450.46
$450.46
$450.46
$450.46
$450.46
$450.46
$450.46
$450.46

12.0%
Interest
$60.00
$59.02
$58.03
$57.03
$56.02
$55.00
$53.97
$52.93
$51.88
$50.82
$49.75
$48.66
$47.57
$46.47
$45.35
$44.23
$43.09
$41.94
$37.85
$33.73
$29.56
$25.35
$21.10
$16.81
$12.47
$8.09
$3.67

Principal
$98.00
$98.98
$99.97
$100.97
$101.98
$103.00
$104.03
$105.07
$106.12
$107.18
$108.25
$109.34
$110.43
$111.53
$112.65
$113.77
$114.91
$408.52
$412.61
$416.73
$420.90
$425.11
$429.36
$433.65
$437.99
$442.37
$446.79

$6,000.00
Remaining Balance
$5,902.00
$5,803.02
$5,703.05
$5,602.08
$5,500.10
$5,397.10
$5,293.07
$5,188.00
$5,081.88
$4,974.70
$4,866.45
$4,757.11
$4,646.69
$4,535.15
$4,422.50
$4,308.73
$4,193.82
$3,785.29
$3,372.69
$2,955.95
$2,535.05
$2,109.94
$1,680.58
$1,246.93
$808.94
$366.57
($80.23)

Listing of all debts

Debt
Car Loan

Rate
7.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$5,200.00

$5,200.00

# of Pmts
28

$ / mth
$200.00

Real Debt

$200.00

$0.00

$571.43
$6,857.14

After 27 mths payment goes to $200 + $450.46 = $650.46

Month
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28

Payment
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$200.00
$450.46
$450.46

7.0%
Interest
$30.33
$29.34
$28.35
$27.35
$26.34
$25.33
$24.31
$23.28
$22.25
$21.22
$20.17
$19.12
$18.07
$17.01
$15.94
$14.87
$13.79
$12.70
$11.61
$10.51
$9.40
$8.29
$7.17
$6.05
$4.92
$3.78
$2.63
$0.02

Principal
$169.67
$170.66
$171.65
$172.65
$173.66
$174.67
$175.69
$176.72
$177.75
$178.78
$179.83
$180.88
$181.93
$182.99
$184.06
$185.13
$186.21
$187.30
$188.39
$189.49
$190.60
$191.71
$192.83
$193.95
$195.08
$196.22
$447.83
$450.44

$5,200.00
Remaining Balance
$5,030.33
$4,859.68
$4,688.03
$4,515.37
$4,341.71
$4,167.04
$3,991.35
$3,814.63
$3,636.88
$3,458.10
$3,278.27
$3,097.39
$2,915.46
$2,732.47
$2,548.41
$2,363.27
$2,177.06
$1,989.76
$1,801.36
$1,611.87
$1,421.27
$1,229.56
$1,036.74
$842.78
$647.70
$451.48
$3.65
($446.79)

Listing of all debts

Debt
Credit Card #3

Rate
11.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$12,619.08

$12,619.08

# of Pmts
60

$ / mth
$274.37

Real Debt

$274.37

$0.00

$783.91
$9,406.97

After 28 mths payment goes to $274.37 + $650.46 = $924.83

Month
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36

Payment
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$274.37
$924.83
$924.83
$924.83
$924.83
$924.83
$924.83
$924.83
$924.83
$924.83

11.0%
Interest
$115.67
$114.22
$112.75
$111.27
$109.78
$108.27
$106.74
$105.21
$103.66
$102.09
$100.51
$98.92
$97.31
$95.69
$94.05
$92.40
$90.73
$89.05
$87.35
$85.63
$83.90
$82.16
$80.39
$78.62
$76.82
$75.01
$73.18
$71.34
$63.52
$55.62
$47.65
$39.61
$31.50
$23.31
$15.04
$6.70

Principal
$158.70
$160.15
$161.62
$163.10
$164.59
$166.10
$167.63
$169.16
$170.71
$172.28
$173.86
$175.45
$177.06
$178.68
$180.32
$181.97
$183.64
$185.32
$187.02
$188.74
$190.47
$192.21
$193.98
$195.75
$197.55
$199.36
$201.19
$853.49
$861.31
$869.21
$877.18
$885.22
$893.33
$901.52
$909.79
$918.13

$12,619.08
Remaining Balance
$12,460.38
$12,300.24
$12,138.62
$11,975.52
$11,810.92
$11,644.82
$11,477.19
$11,308.03
$11,137.32
$10,965.04
$10,791.18
$10,615.73
$10,438.67
$10,259.99
$10,079.67
$9,897.70
$9,714.06
$9,528.73
$9,341.71
$9,152.97
$8,962.50
$8,770.29
$8,576.32
$8,380.56
$8,183.01
$7,983.65
$7,782.47
$6,928.98
$6,067.66
$5,198.45
$4,321.28
$3,436.06
$2,542.72
$1,641.20
$731.42
($186.71)

Listing of all debts

Debt
Credit Union Loan

Rate
6.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$19,225.00

$19,225.00

# of Pmts
84

$ / mth
$280.85

Real Debt

$280.85

$0.00

$802.43
$9,629.14

After 36 mths payment goes to $280.85 + $924.83 = $1205.68

Month
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39

Payment
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$280.85
$1,205.68
$1,205.68
$1,205.68
$1,205.68

6.0%
Interest
$96.13
$95.20
$94.27
$93.34
$92.40
$91.46
$90.51
$89.56
$88.61
$87.64
$86.68
$85.71
$84.73
$83.75
$82.77
$81.78
$80.78
$79.78
$78.77
$77.76
$76.75
$75.73
$74.70
$73.67
$72.64
$71.59
$70.55
$69.50
$68.44
$67.38
$66.31
$65.24
$64.16
$63.08
$61.99
$60.89
$55.17
$49.42
$43.64

Principal
$184.73
$185.65
$186.58
$187.51
$188.45
$189.39
$190.34
$191.29
$192.24
$193.21
$194.17
$195.14
$196.12
$197.10
$198.08
$199.07
$200.07
$201.07
$202.08
$203.09
$204.10
$205.12
$206.15
$207.18
$208.21
$209.26
$210.30
$211.35
$212.41
$213.47
$214.54
$215.61
$216.69
$217.77
$218.86
$1,144.79
$1,150.51
$1,156.26
$1,162.04

$19,225.00
Remaining Balance
$19,040.28
$18,854.63
$18,668.05
$18,480.54
$18,292.09
$18,102.70
$17,912.37
$17,721.08
$17,528.83
$17,335.63
$17,141.46
$16,946.31
$16,750.19
$16,553.10
$16,355.01
$16,155.94
$15,955.87
$15,754.80
$15,552.72
$15,349.63
$15,145.53
$14,940.41
$14,734.26
$14,527.08
$14,318.87
$14,109.61
$13,899.31
$13,687.96
$13,475.55
$13,262.07
$13,047.53
$12,831.92
$12,615.23
$12,397.46
$12,178.60
$11,033.81
$9,883.30
$8,727.03
$7,564.99

40
41
42
43
44
45
46

$1,205.68
$1,205.68
$1,205.68
$1,205.68
$1,205.68
$1,205.68
$1,205.68

$37.82
$31.99
$26.12
$20.22
$14.29
$8.34
$2.35

$1,167.86
$1,173.69
$1,179.56
$1,185.46
$1,191.39
$1,197.34
$1,203.33

$6,397.13
$5,223.44
$4,043.88
$2,858.42
$1,667.03
$469.68
($733.65)

11.8 years

Listing of all debts

Debt
2nd Mortgage

Rate
9.5%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$49,612.40

$49,612.40

# of Pmts
142

$ / mth
$582.82

Real Debt

$582.82

$0.00

$1,665.20
$19,982.40

After 46 mths payment goes to $582.82 + $1205.68 = $1788.50

Month
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39

Payment
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$582.82

9.5%
Interest
$392.76
$391.26
$389.74
$388.22
$386.67
$385.12
$383.56
$381.98
$380.39
$378.79
$377.17
$375.54
$373.90
$372.25
$370.58
$368.90
$367.21
$365.50
$363.78
$362.05
$360.30
$358.54
$356.76
$354.97
$353.17
$351.35
$349.52
$347.67
$345.81
$343.93
$342.04
$340.13
$338.21
$336.28
$334.33
$332.36
$330.38
$328.38
$326.36

Principal
$190.06
$191.56
$193.08
$194.60
$196.15
$197.70
$199.26
$200.84
$202.43
$204.03
$205.65
$207.28
$208.92
$210.57
$212.24
$213.92
$215.61
$217.32
$219.04
$220.77
$222.52
$224.28
$226.06
$227.85
$229.65
$231.47
$233.30
$235.15
$237.01
$238.89
$240.78
$242.69
$244.61
$246.54
$248.49
$250.46
$252.44
$254.44
$256.46

$49,612.40
Remaining Balance
$49,422.34
$49,230.79
$49,037.71
$48,843.10
$48,646.96
$48,449.26
$48,250.00
$48,049.16
$47,846.73
$47,642.69
$47,437.04
$47,229.77
$47,020.85
$46,810.28
$46,598.04
$46,384.12
$46,168.51
$45,951.19
$45,732.15
$45,511.37
$45,288.85
$45,064.57
$44,838.51
$44,610.66
$44,381.01
$44,149.54
$43,916.24
$43,681.09
$43,444.08
$43,205.19
$42,964.41
$42,721.72
$42,477.12
$42,230.57
$41,982.08
$41,731.62
$41,479.17
$41,224.73
$40,968.27

40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70

$582.82
$582.82
$582.82
$582.82
$582.82
$582.82
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50
$1,788.50

$324.33
$322.29
$320.22
$318.14
$316.05
$313.94
$311.81
$300.12
$288.33
$276.46
$264.49
$252.42
$240.26
$228.01
$215.65
$203.20
$190.65
$178.00
$165.25
$152.40
$139.45
$126.39
$113.23
$99.97
$86.60
$73.13
$59.55
$45.86
$32.07
$18.16
$4.15

$258.49
$260.53
$262.60
$264.68
$266.77
$268.88
$1,476.69
$1,488.38
$1,500.17
$1,512.04
$1,524.01
$1,536.08
$1,548.24
$1,560.49
$1,572.85
$1,585.30
$1,597.85
$1,610.50
$1,623.25
$1,636.10
$1,649.05
$1,662.11
$1,675.27
$1,688.53
$1,701.90
$1,715.37
$1,728.95
$1,742.64
$1,756.43
$1,770.34
$1,784.35

$40,709.78
$40,449.25
$40,186.65
$39,921.98
$39,655.21
$39,386.32
$37,909.63
$36,421.25
$34,921.09
$33,409.04
$31,885.03
$30,348.96
$28,800.72
$27,240.22
$25,667.38
$24,082.08
$22,484.23
$20,873.73
$19,250.48
$17,614.38
$15,965.32
$14,303.21
$12,627.95
$10,939.42
$9,237.52
$7,522.15
$5,793.20
$4,050.57
$2,294.13
$523.80
($1,260.56)

11.8 years

Listing of all debts

Debt
1st Mortgage

Rate
6.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$119,412.57

$119,412.57

# of Pmts
147

$ / mth
$1,149.00

Real Debt

$1,149.00

$0.00

$3,282.86
$39,394.29

Debt Free in 97 Months :)

After 70 mths payment goes to $1149.00 + $1788.5 = $2937.5

Month
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Payment
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00

6.0%
Interest
$597.06
$594.30
$591.53
$588.74
$585.94
$583.13
$580.30
$577.45
$574.60
$571.72
$568.84
$565.94
$563.02
$560.09
$557.15

16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37

$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00

$554.19
$551.21
$548.22
$545.22
$542.20
$539.17
$536.12
$533.05
$529.97
$526.88
$523.77
$520.64
$517.50
$514.34
$511.17
$507.98
$504.78
$501.55
$498.32
$495.06
$491.79
$488.51

Principal
$551.94
$554.70
$557.47
$560.26
$563.06
$565.87
$568.70
$571.55
$574.40
$577.28
$580.16
$583.06
$585.98
$588.91
$591.85

$119,412.57
Remaining Balance
$118,860.63
$118,305.94
$117,748.47
$117,188.21
$116,625.15
$116,059.27
$115,490.57
$114,919.02
$114,344.62
$113,767.34
$113,187.18
$112,604.11
$112,018.14
$111,429.23
$110,837.37

$594.81
$597.79
$600.78
$603.78
$606.80
$609.83
$612.88
$615.95
$619.03
$622.12
$625.23
$628.36
$631.50
$634.66
$637.83
$641.02
$644.22
$647.45
$650.68
$653.94
$657.21
$660.49

$110,242.56
$109,644.77
$109,044.00
$108,440.22
$107,833.42
$107,223.58
$106,610.70
$105,994.76
$105,375.73
$104,753.61
$104,128.38
$103,500.02
$102,868.52
$102,233.86
$101,596.03
$100,955.01
$100,310.78
$99,663.34
$99,012.66
$98,358.72
$97,701.51
$97,041.02

38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80

$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50

$485.21
$481.89
$478.55
$475.20
$471.83
$468.44
$465.04
$461.62
$458.18
$454.73
$451.26
$447.77
$444.26
$440.74
$437.20
$433.64
$430.06
$426.47
$422.86
$419.22
$415.58
$411.91
$408.22
$404.52
$400.80
$397.06
$393.30
$389.52
$385.72
$381.90
$378.07
$374.21
$370.34
$357.50
$344.60
$331.64
$318.61
$305.52
$292.36
$279.13
$265.84
$252.48
$239.06

$663.79
$667.11
$670.45
$673.80
$677.17
$680.56
$683.96
$687.38
$690.82
$694.27
$697.74
$701.23
$704.74
$708.26
$711.80
$715.36
$718.94
$722.53
$726.14
$729.78
$733.42
$737.09
$740.78
$744.48
$748.20
$751.94
$755.70
$759.48
$763.28
$767.10
$770.93
$774.79
$2,567.16
$2,580.00
$2,592.90
$2,605.86
$2,618.89
$2,631.98
$2,645.14
$2,658.37
$2,671.66
$2,685.02
$2,698.44

$96,377.22
$95,710.11
$95,039.66
$94,365.86
$93,688.69
$93,008.13
$92,324.17
$91,636.79
$90,945.98
$90,251.71
$89,553.97
$88,852.74
$88,148.00
$87,439.74
$86,727.94
$86,012.58
$85,293.64
$84,571.11
$83,844.97
$83,115.19
$82,381.77
$81,644.67
$80,903.90
$80,159.42
$79,411.21
$78,659.27
$77,903.57
$77,144.09
$76,380.81
$75,613.71
$74,842.78
$74,067.99
$71,500.83
$68,920.84
$66,327.94
$63,722.08
$61,103.19
$58,471.21
$55,826.06
$53,167.69
$50,496.03
$47,811.01
$45,112.57

81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97

$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50
$2,937.50

$225.56
$212.00
$198.38
$184.68
$170.92
$157.08
$143.18
$129.21
$115.17
$101.06
$86.87
$72.62
$58.30
$43.90
$29.43
$14.89
$0.28

$2,711.94
$2,725.50
$2,739.12
$2,752.82
$2,766.58
$2,780.42
$2,794.32
$2,808.29
$2,822.33
$2,836.44
$2,850.63
$2,864.88
$2,879.20
$2,893.60
$2,908.07
$2,922.61
$2,937.22

$42,400.63
$39,675.13
$36,936.01
$34,183.19
$31,416.60
$28,636.19
$25,841.87
$23,033.58
$20,211.25
$17,374.80
$14,524.18
$11,659.30
$8,780.09
$5,886.49
$2,978.43
$55.82
($2,881.40)

11.8 years