Personal finance timeline

By wilfred humphry
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    Personal finance timline

  • Drivers License (16)

    Drivers License (16)
    I will get my driver's license at the age of 16. This will cost an annual fee of 5.50.

  • New cloths (17)

    New cloths (17)
    At 17 I will buy new clothes for the year which will cost $120. I will spend the money that I get from working on new cloths to expand my wardrobe.
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    College (18-22)

    From ages 18-22, I will attend UNC College for 4 years which costs $25,000 a year for 4 years. I will set aside $20,000 for college each year and pay the rest off later.

  • Buy a new car (24)

    Buy a new car (24)
    at the age of 24 I will get a 4-year car loan for a 2002 Land Cruiser which will cost me around $252 Monthly and $3033 Yearly to fully pay off my car. I will get money from my job and cut down on excessive spendings.

  • Marriage (26)

    Marriage (26)
    At the age of 26, I will get married and have a $25,000 wedding which I and my wife will attempt to pay off over 2 years which will cost 1041 a month and 12500 a year.

  • First home (28)

    First home (28)
    At the age of 28, I will have a budget of $400,000 to buy a house which I will pay for over 30 years which is 1,330 a month and 15,960 a year. I will make sure not to waste money on fast foods and things I don't need.

  • Family boat (40)

    Family boat (40)
    As I get older to the age of 40 I will buy a family boat to go with the lake house. I will take a 70k loan over 5 years to pay for the new boat which costs 1,557 a month and 18942 a year. I will use the money from my job to help pay for this expense.

  • Vacation home (40)

    Vacation home (40)
    When I turn 40 I'm going to buy my first vacation home at a lake. I am taking a 200k loan from the bank which I pay off over 25 years which will cost me 1397 a month and 16764 a year.

  • New car (65)

    New car (65)
    25 years when I have finished paying off my loans and go into retirement I will buy a Scat Pack and take a 58k loan from the bank which will be paid off over 5 years which costs 1148 a month and 13,776 a year.

  • Golf course member ship (70)

    Golf course member ship (70)
    Once I finally finsh my loans on my car I am going to buy a golf course membership to play golf with my now older kids which will cost around 6000 a year to join a country club.