How do things really balance out? By Joshua Da Silva
MarKet investor A market investor is someone who invests in stocks or shares. Although this could be risky they still make good money. A stock or a share is when you buy a piece of the company, the more successful the company is the more profit you will make. Gross (before taxes): $6438.00/ monthly Gross (before taxes): $77 256.00/ yearly Net (after taxes): $5057.83/ monthly Net (after taxes): $go 693.96/ yearly
dwelling Cost of rent: $1600/ monthly, also $19 200/ yearly
Car Cost of car: $4884 Car type: Used 2010 Hyundai Elantra Touring Decided not to spend a large amount on a car as I would rather spend it on other things such as clothes, vacations, sports, and a nice condo.
clothing I decided I would set a limit of $300 a month on clothing as the money I saved from buying a cheaper car I would use for clothing. I won’t necessarily spend $300 a month but one month I might spend a little more and the other month less. I am willing to spend this amount of money as I love to shop for clothes and shoes.
savings After all my expenses I was able to save $798.68 The amount of savings was a lot because I would like to money aside if any problems occur that might need a lot of money to fix. Also in the future if I were to ever get married and have a kid I would already have a good amount of money saved from the past months or years. Some example of problems that may occur could be I get into a car accident, my phone breaks and I must replace it, I eventually want braces or crack a tooth, etc…
The big challenge For me, there was only one big challenge. It was balancing all my money. I wanted a lot of money to be saved but at the same time I wanted to live a good lifestyle. Deciding whether or not I could afford to add an extra $50 into an area of expense was difficult as I needed to think about everything else I would have to pay for at the same time. Other minor challenges I came across were whether to have a nice condo or a nicer car which also is balancing my money.