Personal Budget Project
Q1. Calculate the cost of purchasing a new car:
2001 Nissan Silvia: $19,000
Last Modified Date | 19/04/2011 |
Vehicle | 2001 NISSAN SILVIA S15 |
Price | $19,000* |
Kilometres | 97,000 |
Colour | yellow |
Interior Colour | black |
Transmission | 6 speed Manual |
Body | 2 door 4 seat COUPE |
Drive Type | Rear |
Engine | 4 cylinder Petrol Injected 2.0L (1990cc) |
Reg Plate | BHG12X |
Reg Expiry | JUL-2011 |
Road Worthy Certificate | N/A |
Vehicle ID | 10101520 |
Brief Comments | 2001 Nissan s15 Silvia 2.0L |
Stamp Duty Cost | $570 |
Discuss the Affordability of your Car:
Well if I earn 44980 in a year and my car is costing 19000 and my weekly budget is around $654 then I believe that I would be able to continue to ear enough money from my job to afford both my car and my weekly living budget and hopefully not have to reduce some of the budget costs to make it affordable again.
If I really couldn't afford to keep paying the payments on my car and the living budget at the same time I would have to commit to reducing the costs of several of my budget areas. The first thing I would have to cut down on would be entertainment and lower it to around 100 a week or lower, the next area I would reduce would most likely be clothes which I would lower by approximately $30, and lastly if I still did not have enough money I would have to reduce Car servicing and savings by $30 each, and hopefully by then had my budget under control. Once I had lowered these areas of my budget I would check to see if I was on track to a comfortable and easy payment on my car and controlling my budget at the same time.
The problems of creating a budget are mainly sustaining the budget until there is no need to use it anymore, because budgets are made for a reason, that reason being that you...