Reference no: EM133146278
Question - Let's say you bring in $1,500 a month. Set a savings goal for yourself and then explain how you will reach it based on the factors enumerated below. not over-engineer this .
Step 1 - What's Left Over
Discuss what your actual monthly income is after deducting 45% for taxes and expenses.
Step 2 - Ultimate Savings Goal
Discuss: A) what your savings goal is and B) why you chose that amount.
Step 3 - Where to Put the Money
Discuss: A) where you will put the money and B) explain why you chose that option.
Step 4 - How Much to Save
Based on your actual net monthly income from Step 1, discuss how much you will have to save each month to reach your goal.
Step 5 - How Long This Is Going to Take
Discuss how long you think it will take to reach your goal.
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