Current Financial Situation Assets : Income : Checking account $5, 700 Gross income (Jamie Lee) $64, 000 Savings account $23, 600 Net income after taxes (Jamie Lee) $48,000 Emergency fund savings account $21,900 Gross income (Ross) $89 , 000 IRA balance $27, 400 Net income after taxes (Ross) $75 , 650 Car (Jamie Lee) $11, 400 Monthly Expenses: Car (Ross) $19, 400 Mortgage $1, 435 Liabilities : Property taxes and insurance $640 Student loan balance $0 Utilities $115 Credit card balance $2, 000 Food $470 Car loans $7, 400 Gas/maintenance $345 ook Original purchase price of home $299, 000 Credit card payment $320 Car loan payment $303 Entertainment $370 rint Real Property (not applicable to renters) Current replacement value of home $ 299,000.00 rences Personal Property Estimated value of appliances, furniture, clothing, and other household items $ (conduct an inventory) 18,000.00 Type of coverage for personal property Replacement value Additional coverage for items with limits on standard personal coverage such as jewelry, firearms, silverware, and photographic, electronic, and computer equipment Diamond wedding band set $ 2,000.00 Personal Liability Amount of additional personal liability coverage desired for possible personal injury claims $ 9,000.00 Specialized Coverages If appropriate, investigate flood or earthquake coverage excluded from home insurance policies Total Property Insurance Needed