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Drivers License (16 years old)
$ 21.50 initiation, $ 5.50 a year, Short Term Goal
I will need to be able to drive to get to future jobs and a driver's license is essential for later in life. I will save money buy not buying things from target and mowing the lawn. -
Buy New Shoes (17 years old)
$ 150 dollars, 1 month to save, No Cost Per year, Short Term Goal
I will save for a month to get new shoes. By the time I am 17, I will need new shoes as all my pairs now will either not fit or be too worn down. I will get this money from my job at the pool. -
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College Textbooks (18-22 years old)
$ 1,200 over 4 years, $ 300 per year, Medium Term Goal
I will need college textbooks for my classes in college. They are essential if I want to earn my degree. I save money every year by eating out less. -
Buy First Car (23 Years Old)
$ 20,000 over 5 years, $ 380 per month ($ 4,560 per year), Medium Term Goal
I will need to buy a car after college to commute to work and back home. I will get money for this car with my first job. -
Marriage / Wedding (28 years old)
$ 27,000 over 3 years, $ 9,000 per year, Medium Term Goal
I plan to get married after I get a stable job but before I am too old. This will also increase household income if my wife works. I will split the cost of this wedding with my wife. -
Buy a House (35 year old)
$ 400,000 over 30 years, $ 1,330 per month ($ 15,960 per year), Long Term Goal
Buying a house is a good investment and also a place where you can live and start a family. I would probably get a house near my workplace. I will use the money from my job to help me purchase. -
College Savings For Children (41 - 51 years old)
$ 75,000 over 10 years, $ 7,500 per year, Long Term Goal
I want to save money for my children so they can be successful and don't have to worry about college debt. I will use the money from my job to put toward the fund. -
Buy a Lake House (42 years old)
$ 200,000 over 15 years, $ 1,330 per month ($ 15,960 per year), Long Term Goal
Buying a lake house on the right lake can also be an investment. It is also fun to have one because you can invite family and friends to join you on the lakeside. I will use the money from my job to help me purchase. -
Buy a Used Sports Car (67 Years Old)
$ 40,000 over 5 years, $ 760 per month ($ 9,120 per year), Medium Term Goal
At this point, my house and lake house will both be paid off so I can get a nice car to drive around. I will probably use this as my main car and give it to my kids or grandkids when I am too old. I will use the money from my job to help me purchase. -
Grand Children College Fund (70 Years Old)
$ 30,000 over 3 years, 10,000 per year, Medium Term Goal
I want to also help my grandkids to go to college. I will probably split the money depending on how many I have. I will use the money from my job to help fund.