Personal Financing and Investing
Uploaded by blind_ninga on Mar 16, 2008
1.0 Introduction 2
2.0 Data Collection 2
2.1 Personal Budget 2
2.2 Car deal 2
2.3 Payment method of Car 3
2.4 Selecting a Credit Card 5
2.5 Employing left over cash 6
2.6 Future Income 6
2.7 Future value of trip 7
2.8 North Beenleigh house 7
2.9 Financing Shailer Park home 9
3.0 Conclusion 9
4.0 Recommendations 10
5.0 References: 11
6.0 Appendixes: …………………………………....………After 11
1.0 Introduction
The information below has been specially gathered and designed for Mr. Bernard Fanning who may use the following data to make future decisions. This report contains matters concerning Personal Financing which is the ability of an individual to provide funds in order to achieve personal goals and investing which is defined as the putting out of money into a project which in return you may receive a higher amount.
2.0 Data Collection
The information and figures produced on this report was collected and presented by, Salman Clay. The resources and information used to produce this report is recorded on the reference and appendix pages, see table of contents for details.
2.1 Personal Budget
Income: Total:
Monthly Income 3750 3750
Expense:
Food 400
Electricity 100
Phone 140
Clothing 200
Entertainment 600
Car expenses 150
Insurance/Registration 150
Miscellaneous 200
Mortgage 1200 3140
Income – Expense: 610
Saving a Year: 7320
2.2 Car deal
It has been stated that Mr. Fanning would like to trade in the Toyota corolla, ascent, lift back, four speed, 2000 model for a better much more luxurious Mazda 6, semi-automatic, five speed, 2008 model.
Using the information shown on the appendix A, there is a good chance that you may receive an average price of $7200, if the Toyota corolla is traded in. Because the car is said to be in very good condition the price obtained from appendix A is the highest price for trade in. This price does not include fees which are to be paid when buying or selling a vehicle. Examples of the fees are transfer and registration fees.
The car that Mr. Fanning wants to trade in the Toyota Corolla for is a 2008 Mazda 6, with automatic transmission. As Appendix B states, the car is a 2008 Mazda 6, Limited Sedan, four door Semi-Automatic 5 speed 2.5 litre which retails for $31 800. This price does not include fees which are to be paid when buying or selling a vehicle. Please refer to the table below.
Price: Difference
Toyota Corolla $7200
Mazda 6 $31800
$24600
There is an extra price of $24 600 needing to be paid if Bernard wants to trade in the Toyota corolla for the Mazda 6 assuming that the car dealer is being generous and is paying for the fees.
2.3 Payment method of Car
Getting a car loan is the best choice of payment for Mr. Fanning’s situation. There...