Personal Financial Timeline

By ttgg33

  • 5 year mark (Birth)

  • Starting preschool/first time going to school

    Cost: $6,000
    Cost per year: $1,500
    Amount of years until debt is paid: 4
    Payment: Parents and state funding
    Plan: Short term

  • 5 year mark

  • 5 year mark

  • 5 year mark

  • Getting first job (In highschool)

    Cost: No payment required
    Cost per year: No payment required
    Amount of years until debt is paid: No payment required
    Payment: No payment required
    Plan: Short

  • Buying first car

    Cost: $25,000-30,000
    Cost per year: $4,200
    Amount of years until debt is paid: 6 years
    Payment: Save for/Loan
    Plan: Medium

  • Passing SAT

    Cost: $52
    Cost per year: $52
    Amount of years until debt is paid: 1 year
    Payment: Parents pay for whole cost
    Plan: Short term

  • Graduate from High School (Price covers all 4 years of costs not covered by the state))

    Graduate from High School (Price covers all 4 years of costs not covered by the state))
    Cost: $300-500
    Cost per year: $125
    Amount of years until debt is paid: 4
    Payment: Parent pays for total cost
    Plan: Short term

  • Getting into college

    Getting into college
    Cost: About $20,000 for a public college
    Cost per year: $2,000
    Amount of years until debt is paid: 10 plus years (Average 10)
    Payment: Save for/School loan/Scholarship
    Plan: Long term
    I want to reach this milestone because going to college is something that is very important to me. Every person in my family has gone to college and gotten a some type of degree and I would love to continue that tradition. I also want to reach this milestone because I know it will help me to get a good paying job.

  • 5 year mark

  • 5 year mark

  • Getting married (Price cover wedding and average honeymoon cost)

    Cost: $25,000-35,000
    Cost per year: $5,000
    Amount of years until debt is paid: 5 (Average time)
    Payment: Save for/Family
    Plan: Medium

  • Buy first house

    Buy first house
    Cost: $250,000
    Cost per year: $28,400
    Amount of years until debt is paid: 30 years
    Payment: Loan
    Plan: Long term

  • Have first child (Birth cost)

    Cost: $12,000
    Cost per year: $3,000
    Amount of years until debt is paid: 4 years
    Payment: Save for
    Plan: Medium

  • 5 year mark

  • 5 year mark

  • 5 year mark

  • 5 year mark

  • 5 year mark

  • 5 year mark

  • 5 year mark

  • 5 year mark

  • 5 year mark

  • 5 year mark

  • Death (Funeral cost)

    Death (Funeral cost)
    Cost: $12,000
    Cost per year: $2,400
    Amount of years until debt is paid: 5
    Payment: Payed by loved ones (family) and Saved for
    Plan: Medium

  • 5 year mark