Irasema

Becerra
Personal Finance
Portfolio
 Bachelors in Reasons:

Biology & - With a Biology degree I can

enhance my passion of helping
Medical Degree people and children medically.
- A bachelor in biology will allow
me to open my options in the
medical field and humanity
sources.
- This degree allows me to go to
medical school and become a
pediatrician.
 Child Health Specifications

Doctor - Pediatricians examine children’s

growth & development, minor illnesses,

(Pediatrician)
collect, record & maintain patient
medical information, prescribe/minister
any medical activity of the patient, and
interpret diagnostic.
- Pediatricians need to know the
following subjects, medice, dentistry,
english language, therapy & counseling,
biology, or/ and psychology .
- Pediatricians Salary on a median wage
overall is $83 dollars per hour, or
$172,650 per year.
Job Posing Reason this opening is perfect for me:

- The primarily thing that I love is that

it is located in my hometown,
specially where I would be going to
college, Kansas City, Mizzouri.
- This job opening is open arms for
fresh graduates especially from
UMKC and KU (Dream Schools).
- Great benefits, small group of
pediatrics, you can know every single
one of them, as well as great
insurance benefits.
Short-Term
S I want to save up $100 exactly.

M: $100 is quantifiable

Smart Goals A: I have a part time job now, and i’m

(Now to College) going to have 2 over the summer.
Save up $100 every month.
R: I will be able to save up at least $100
every month + money not used

T: There are about one year and a half

before I leave for college which is at least
$1,800 for college.
Intermediate
S: I want to spend as less as I can.

M: Spend only on necessities.

Smart Goals A: Spend money for rent, utilities, school,
(During college) and less than $50 a month on
Spend less. No loans. entertainment.

R: I will be able to put more money into my

schooling, which is less loans.

T: Saving as much for 6+ years, will leave

me with less to pay after college.
 S: I want to pay my loans back as soon as
I can. Buy a house, be financially stable.
Long- Term Build a family.

Smart Goals M: Pay the most on loans by month.

Spend less. Save the most for a house.
(After College )
A: Spend money for rent, utilities, and
Loan. Financial Stable.
loans.
Adulthood.
R: I will be able to pay my loans back, be
financial stable, and have house, then
have a family.

T: By 26+ , I will be able to have my own

house and no loans.
 Monthly Budget
Fixed Expenses Cost Variable Expenses Cost

Rent: The apartment that I wish to get
can be smaller, but would be lovely to <$700
have a 813 sq ft. in KCK
Insurance: In need of life >$640
insurance($67.88), health($440) ,
car(118) and renters insurance($12).
Food: To save up, and be more healthy <$300
which is a lifetime goal, I will be eating at
home. (Healthier food is expensive).
Transportation: Gas >$50

Cell Phone Plan: I love saving up on <$50 Utilities: Apartment should cover most of >$100
things I can the most. A cheap plan is the them except electricity/water.
best, text, call, service.
Entertainment: I love entertainment, going >$50
Internet Bills: I would need internet for >50 out and having fun.
schooling, work, and networking.
Miscellaneous: Extra fees, extra needed <$100
Savings: About 15% of my whole <2,025 money, presents etc.
income, to be able to afford a home.

Fixed Costs Total: $3,465 Variable Cost Expenses: $600

 Financial Institution & Accounts: U.S Bank
I choosed this bank because as an underaged students, gave me the best abilities, and understanding. It
offers the best plan on the long run, when I become an adult.
Student Checking Account: (Underaged) Standard Savings Accounts:
Basic Banking
- Free U.S Bank Visa Debit Cars, - Online & Mobile banking

- No- fee transactions at U.S Bank ATM - eStatements

- Online/Mobile banking with free Mobile Check Deposit - Overdraft Protection

- Send Money to family/ friends - No U.S Bank fee for U.S Bank ATM Transactions

- Bill pay and more.. - Account alerts

Non- U.S Bank ATM Transaction fees: No fee.

Free Personal Checks *Requirement to waive fee: $300 minimum daily ledger balance

$0 Maintenance fee OR $1,000 average monthly collected balance

I choose this account, which has the basics, just to get I would choose this account since it is the basic, but
used to having a credit card, and responsibility, then way scricter than the student one, learning slowly but
upgrade. surely.
 Investing & Retirement
<$5,000 to Invest 15% Percent of income per month would be for
retirement: ($2,025).
3 Alphabet Inc Class A (Google) for $1,153.42 401 (K) Plan
($1,153.42 x 3 = 3,460.26)
Factors considered for retirement
- Technology will always upgrade through years,.
Tax advantages:
Google is an owner of many other small companies, it
Regular contributions are on pretax basis, in other words money
is my greatest shot, I believe.
contributed to the account is exempt from federal income tax,
lowering taxable income for the year. Accumulation in your plan is
6 Apple Inc. Stocks for $175.85
not subject to tax until you withdrawl.
($175.85 x 6 = $1,055.1)
- I choose Apple because I strongly believe that
Net Worth:
technology will get more powerful and more
Estimated that the median net worth for people 65-74 is $224,000
necessary through time.

Social Security:
34 Natural Grocers by Vitamin Cottage Inc. for $14.03
Average of $2,788 per month, or $128,400. The money received
( 14.03 x 34 =$477.02)
does not impact a 401K retirement plan.
- I believe sooner than later people in the future are
gonna start believing we should all be healthier.
Healthcare :
Available for medicare as you hit 65.
Average a 65-year old can pay out-of-pocket for health cost.
 Credit Card- Student Checking Account
Benefits

Basic Banking Must-Have

Non-U.S Bank ATM Transaction fees
Free Personal Checks
No maintenance Fee

I choose this card, because it is a great start up

Cost
Paper Statement fee ($2)
Overdraft Paid and Overdraft Returned Fees
($36 for each item of $5.01 or more)
Extended Overdraft Fee ($36 every
account for any student. It doesn't have that many
restrictions and commitments, but at the same time it
teaches you to be more responsible and handle
money the right way to avoid consequences. The fees
and cost do not worry me, it is an account to keep my
money safe, not go and spend more than I already
have.
 Student Loan Profile

Kansas University
- $25,306 per year for tuition, books/supplies, other fees, room and board &
other expenses budget
- Without any scholarships or financial aid, I can be paying $101,224 per 4 years.

I will be using the Graduated Repayment Plan paying it in 10 years.

I selected the 10 year plan, because I really want to get them off my shoulders as
soon as I can. This payment loan increases every two years, every 2 years I should
be able to get a more reliable income to suit my loans as well.
 Renting Vs. Owning
Advantages:
Advantages:
- No extra real estate taxes for owning
- Homeownership is an investment. Property cost
property.
will always increase over time.
- No maintenance fees/ Repairing Bills.
- Tax deductions: Since you are paying real estate
Usually the person in charge of the place
taxes, the government can deduct from taxes as
will take responsibility for such.
well.
- Not an expensive downpayment. It is
- After you are done paying it, it is yours forever.
usually 20% of rent.
Good Retirement investment.
- Access to Amenities (pools, playing room
- Control over living space. You can add or discard
etc.). This saves you up on luxuries, or fun
anything you dislike to the property without any
activities to pay for.
limits.
- The rent payment usually includes most
- Social benefits. Homeownership is stable and can
utilities/bills, excluding either electricity
give you community involvement and neighbor
or water.
social appreciation.
 Buying a Home
My yearly income: $38,546
Combined Income w/spouse: $75,546
Purchasing Power: $150,000-$225,000
House Address:
6028 Millbrook St, Shawnee, KS 66218
Price: $222,370
Features: 2 parking spaces, 3 Bedrooms, 2.5
baths, 2,000 sqft.
Down Payment (20%): $44,,474
15 Year Loan Term
Monthly Payment of $1,352.72
Total Payment of $346,516.94
30 Year Loan Term
Monthly Payment of $891.88
Total Payment of $527,131.72
The Ultimate Decision
I would choose the 15 year loan term instead of the 30
year loan term because it is way cheaper, and I will be
able to own my home faster. If I would do the 30 year
that would be 1.5 times more than the original price.
 Summary & Reflection

Personal Finance have taught me that people need to be more educated about the whole system of finance.I
was able to inform my parents about financial issues that they didn't know about, even extra benefits they
can apply for. It surprised me so much their lack of financial knowledge they didn’t have. I was able to have
more confidence dealing with finance. This curse even gave me and my parents the confidence to get me my
own bank account, as a student. I was able to understand the tax form from work instead of just filling it out to
my best ability. It made me save up and not spend on things that were not necessities. It open my eyes to so
many hidden fees in life people don't talk about. As well as taught me that from an early age you can start
shaping your finances. But most importantly, I believe it encouraged me to try harder going into college or a
university, to be able to have the job and income I want. It really impact you how education can empower you
but expensive it has become. It made me realize so many things, I believe I won't ever be financially the same.