Saving Money and Buying a Home: A Case Analysis

Following my recent discussions with you, I developed some suggested strategies for you to follow to (a) save money to buy a house and a second care, and to (b) improve your spending habits. I am providing these suggested strategies to your through this memorandum, along with some additional suggestions concerning the practical implementation of the suggested strategies.

Saving Money to Buy a House and A Second Car

It has been four years since I last provided you with financial advice. I am assuming that you followed my advice for the most part. While you still have $1,520 in credit card debt, I am assuming that you no longer are making car payments and that you have increased your savings account to approximately $15,140 (based on the rate that you paid down your liabilities over the past four years, I assumed that your success in adding to your savings account was comparable).

At present, your monthly gross income of $3,600 translates into an annual income of $43,200. As you have no large deduction items, the standard deduction for a married couple filing a joint federal income tax return is $7,850 and each of you and your two children qualify for a $3,000 personal exemption, for a total reduction of $19,850 from your gross income. Therefore, your taxable income is $23,350. Your federal income tax liability in your taxable income is $2,899. Further, your emplo

. . .
Some common words found in the essay are:
Social Security, House Car, Spending Driving, IMPROVING SPENDING, savings account, , house car, take-home pay, monthly take-home pay, suggested strategies, level monthly, monthly expenses, home pay, acquiring car, income tax, monthly take-home, monthly home pay, 10 percent payment, federal income tax, money buy house,
Approximate Word count = 997
Approximate Pages = 4 (250 words per page)

More Essays on Saving Money and Buying a Home: A Case Analysis