2015 Financial Planning Budget :

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2015 Financial Planning Budget The following budget has been specifically planned for my future, with some exceptions for going through a basic budget. I am a student at Southwestern Assemblies of God University, my degree is in Counseling Ministries with an minor in Intercultural Studies. I found out about SAGU my senior year of high-school from a life-long friend and shortly thereafter had a complete encounter with the Holy-Spirit speaking to my heart about what He has called me to do with my life in loving and ministering to people. If, I continue to further my education after graduating from SAGU I know it will be to further the Kingdom of God. Being a counselor and possibly going on the mission filled can be financially tolling,…show more content…
Should I end up on the mission field, I will have a very limited budget, and depending on the country as well, it is important for me to be a good steward and manage my money to the best of my abilities. I am already financially supporting myself 100% through college; this has been good preparation for the future. Hosea 10:12 says, “Sow with a view to righteousness, Reap in accordance with kindness; Break up your fallow ground, For it is time to seek the LORD Until He comes to rain righteousness on you.” (NIV; BibleGateway). I believe it is important to sow and be aware of things such as finances, and in that faithfulness to one-day reap what the Lord has. The budget that I have constructed below is my salary as a single-woman living and working on my own. My monthly gross income is $3,333.00. My taxes deducted as following: $216.66 goes to federal withholding, $206.66 for social security, $48.33 to Medicare, and $229.93 for the state of Wisconsin. That leaves my monthly net income to the amount of $2,473.17. I chose a simple 3-bedroom home in Kenosha, Wisconsin, which costs a total of $140,000.00. I decided to make a 20% down payment of $28,000 and take out a loan for $112,000.00 at a interest rate of 3.89% per year. I had to go with the 30-year mortgage rate due to finances, so my monthly mortgage including taxes is $701.52 (bankrate.com). If I were not to make any extra payments, I will have paid this house off by January of 2045. I am going to
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