be far too great for the couple to completely tackle on their own, particularly so late in the savings game. Once they have closed on their new home, they should strive to put aside $800 monthly toward college costs.
Financial Snapshot: KNOX FAMILY Yonkers, NY
HOUSEHOLD INCOME
| Gross Income | $147,000 |
|
ASSETS |
|
| Money market account | $28,000 |
| Checking account | 9,000 |
| 2000 Nissan Quest minivan* | 5,905 |
| Brokerage account | 3,000 |
| Total | $45,905 |
|
LIABILITIES |
|
| Child support | $54,900 |
| Student loans (Judith) | 30,000 |
| Total | $84,900 |
| NET WORTH | -$38,995 |
*ACCORDING TO
KELLEY BLUE BOOK