Age: 29
Monthly income: $1,000 to $4,000
Children: none
Debt: 70,000 in school loans
Savings: Not that much
Future earning potential: High
Future investment desire: Yes
Tables below Miriam’s monthly expenses.
Average Essential Monthly Expenses
|
Groceries |
$250 |
|
Housing |
$900 |
|
Vehicle |
$340 |
|
Utilities, fuel, and public services |
$60 |
|
Household operation |
$50 |
|
Housekeeping supplies |
$10 |
|
Healthcare |
$650 |
|
Education |
$0 for now |
|
Total |
$2,260 |
Average Extra Monthly Expenses
|
Eating out |
$200–$300 |
|
Entertainment |
$400 |
|
Apparel and services |
$400–$600 |
|
Beauty care |
$50 |
|
Alcoholic beverages |
$0 |
|
Reading |
$50 |
|
Vacation |
It’s a once a year thing, so $3,500 per year |
|
Gifts |
$0 |
|
Total |
$1,100–$4,900 |
Minimum monthly income = $1,000 < average essential monthly expenses = $2,260
Maximum monthly income = $4,000 > average essential monthly expenses = $2,260
Maximum monthly income = $4,000 > average essential monthly expenses + minimum extra monthly expenses = $3,360
Depending on her monthly income and monthly savings, Miriam could consider investing 10 percent of her monthly savings in the forex market, with a 2 percent risk appetite.
