Freedom 18 Reflection

When I finish high school my plan is to go to University and better my education. During University I will live at my parents house. My parents wont make me pay rent until I have a full time job and I am out of school. By living with my parents for as long as I can I wont have to pay for any gas, phone, or cable bills which will save me a lot of money. To get to school I will use a car. I will drive a 2013 Toyota RAV4 LE AWD which is listed for $19,999. My parents said that they will help me out and pay for half of my first car so the price that I have to pay would be only $9999.5. I will have saved $3000 so I will pay that off of the car right away and take out a loan to pay for the rest of my car. over the span of 3 years I will fully pay off my car paying $222.2 each month. If I drive 10,000km each year I will pay about $70 each month for gas. My Mom wouldn’t make me buy my own groceries when I live at home, but I will go out and get some milk or eggs from the store for her if she asks. Since I do have school and sometimes it’s easier to just go out and get lunch. I will go out to eat about 3 times a week. Eating out will overall cost about $220 each month. I wont have to pay for any new furniture or maintenance because I’m still living with my parents. I will pay for all my computer hardware problems, and supplies I need. I already a computer but if it does brake then I would have to pay for it, which would cost around $80 since I have apple care. I don’t often go out shopping for clothes but when I do, I spend quite a bit. Each month I spend about $100 on clothes and shoes. On hair cuts, toiletries and make-up I will spend about $45 each month. I wont spend that much money on recreational activities but when I do want to rent a movie I will spend $5, which overall would add up to about $20 each month. My parents cover the cost of my education. In return they expect me to succeed in my schooling, and help out by getting as many academic scholarships as I can before going to University. Each month I will put $48 into my savings account so in the future if something unexpected does go wrong, I have that money in my savings to recoil on. After calculating my total monthly expenses from my total income I have a surplus of $713.5.

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