Family+Scenarios

Family Scenarios

1. The roof of your house needs replacing. The cost is 9,000 dollars. Determine how you are going to pay for it and place it into your monthly budget.

How my family would pay for this would be that with our budget we have aproxamantly $200 a month left over. We also set money aside for things like this. So what we would do is take out a loan for how much money we still need to get the right stuff to fix the roof. If we simply put about $100+ we can hopefully get together enough money to pay the roof repairs within a good amount of time. But we woul most likely have to take out a loan and then pay it.

2. Your basement gets flooded in a major rainstorm, but your homeowner’s insurance doesn’t cover this. The damage is approximately 8,000 dollars. What are you going to do? Subtract from your monthly budget.

What my family would do is try to fix as much as we can by our self. We will put around $100 a month so we can purchase what is needed and if worst comes to worst we will take out a loan that we would try to pay off as quick as possible. Also I might get a job that pays well so I can help.