Expert: Sherry Wallin - 1/8/2012

Question
My wife and I would like to save an Extra $10,000 by November 2012. Currently I am the only that works and I get $1898 per fortnight. Each fortnight we pay $800 per rent. We are ok with not eating out and saving...etc and our power bill isn't very high, i.e. 100 a month. Our petrol per week is 75 and grocery's at the moment are 60 per week.

How much could we realistically afford to put awayf or Baby by end of November.

I would very much appreciate your help in the above.

Answer
J
Conceivably you could save $16388 by the time November rolls around. I figure there are 21 fortnights until November and 42 weeks and 10 months. So this is the calculation:

1898 x 21 -(800 x 21) - (100 x 10) - (75 x 42) - (60 x 42) = 16388

Math Prof