The Remick's Financial Snapshot
Annual Income
Salary and profit sharing: $54,000
Yearly Expenses
Property tax $3,000
Home insurance $300
Auto maintenance $800
Gas $2,500
Auto insurance $1,500
Utilities $2,500
Cable $500
Groceries $6,500
Restaurants/entertainment $1,500
Clothing $2,500
Household goods $700
Home improvements $2,000
Gifts $2,500
Income tax $20,000
Pension and deductions $3,000
Union dues $600
Charitable donations $100
Savings $2,000
Children's activities $500
Vacation $1,000
Total $54,000
Short-Term Goals
(Within three to five years)
1. Furnish the house.
2. Renovate the basement.
3. Put patterned concrete along the front walkway.
4. Enrol the kids in various activities, such as swimming, gymnastics, skating and ballet.
5. Replace one of the cars.
6. Purchase a personal computer.
7. Take a trip to Europe or the Caribbean with the kids.
8. Prepare for Joan to re-enter the workforce.
Long-Term Goals
1. Save for the children's education.
2. Build up RRSPs and a retirement fund.
3. Replenish the family savings.
