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I plan to start saving for a car over the summer along with college. I'm giving myself 7 years to save for a car because I'll be saving for for college so it will take me longer than I wanted to. I plan to add money into my saving account.

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Allstate
Types of Coverage:
Collison Coverage- Covers expenses related to the damage or destruction of your vehicle.
Comprehensive Coverage: Covers expenses related to your vehicle in situations like thefts or storms.
Liability Coverage: Cover expenses related to injury, death or property damage when you’re at fault.
Medical Payments Coverage- Covers medical or funereal expenses if you or your passengers are hurt.
Uninsured and Underinsured Motorists Coverage: Covers your expenses if the other driver is at fault and doesn’t have insurance.
WHY?
I want to have Allstate car insurance collision coverage, and medical payments coverage because it will pay for my bills after I get into an accident, pay for repairs that are from theft and vandalism. This type of insurance also has Safeguard investment that I've made on my car. Liability coverage can cover injuries, death or property damage when I'm at fault. This can help protect me and any passengers I have in my car which is why I want this policy in the future once I get a car on my own.

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Allstate
I want to have Allstate as my Homeowners insurance because I want my home to be protected if anything happens to it like all my personal belongings in my home. If  I get robbed or something happens outside my home I will be covered and won't have to worry about those expenses.

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I want to start saving for College and Medical school right away. I'm going to college in the fall. Ill be attending CLC community college for 2 years  and transferring to a 4 year college than going to Medical School once I graduate. Going to a community college can help me save money towards my education and its cheaper. I plan to work full time and put my money towards college. Once I transfer I also will work, with every paycheck I get. I plan to put aside 75% into my college fund meaning saving account. When or if I get a raise I will put that money in there as well.

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Allstate
I also plan to have Allstate Whole Life insurance because I want to be covered throughout my life. It will pay for my funeral cost so my family wont have to worry about it. It can also cover any expenses that my health insurance doesn't cover. This will protect my family and I which is why I want to have life insurance to ensure their safety and mine.

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Credit Card Name: Chase Freedom
Benefits/Information: Earn cash back for every purchase. Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate and unlimited 1% cash back on all other purchases.
APR: 0% intro APR for 15 months from account opening on purchases and balance transfers. (low)

Annual fees: $0
Penalties:
Offers: Gain points on purchases and use those points towards your purchases. $150 bonus after you spend $500 on purchases in the first 3 months of opening the card/ account.
Why?
I chose Chase Freedom because I’m able to earn cash back when I spend money. It has no annual fees which is great and the APR is 0%. I can also earn points when I spend money and use those points towards my purchases. I’m able to earn great rewards that I can use towards Amazon, purchasing gift cards or direct deposit toward my bank account. I do tend to shop a lot so this card seems more beneficial.

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With the Chase Freedom Credit Card, earn 5 percent cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate.

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I plan on having a 401k  which is how I will save for retirement. I'm going to start with 10% to contribute to my 401k after I'm done with college and medical school because I want to wait until I have a stable job which will be after college and most of the money I earn during school will go to my college fund. I plan to increase the percentage I had chosen because I want to contribute as much as I can into my 401k.

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Blue Cross Blue Shield Insurance (HMO): Lower monthly premiums. A primary Care Provider (PCP) will coordinate health care.
Silver Plans: Higher premium costs but lower out-of-pocket costs. Plan pays 70% and you’ll pay 30%.
BlueCare Dental: This dental plan offers coverage for cleanings and preventative services.
WHY?
I chose this insurance because it covers in- network and basic services for me. They cover emergency services, prescription drugs and maternity care, hospitalization, laboratory services and Pediatric services, including oral and vision care. It Protects me from paying high medical bills. It also has the best benefits for me.

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You have choices when you shop for health insurance. If you're buying from your state's Marketplace or from an insurance broker, you'll choose from health plans organized by the level of benefits they offer: bronze, silver, gold, and platinum. Bronze plans have the least coverage, and platinum plans have the most. If you are under 30, you may also be able to buy a high-deductible, catastrophic plan.

How are the plans different? Each one pays a set share of costs for the average enrolled person. The details can vary across plans. In addition, deductibles -- the amount you pay before your plan picks up 100% of your health care costs -- vary according to plan, generally with the least expensive carrying the highest deductible.

Platinum: covers 90% on average of your medical costs; you pay 10%

Gold: covers 80% on average of your medical costs; you pay 20%

Silver: covers 70% on average of your medical costs; you pay 30%

Bronze: covers 60% on average of your medical costs; you pay 40%

Catastrophic: Catastrophic policies pay after you have reached a very high deductible ($7.350 in 2018). Catastrophic plans must also cover the first three primary care visits and preventive care for free, even if you have not yet met your deductible.

You will also see insurance brands associated with the care levels. Some large national brands include Aetna, Blue Cross Blue Shield, Cigna, Humana, Kaiser, and United.

Each insurance brand may offer one or more of these four common types of plans:

Take a minute to learn how these plans differ. Being familiar with the plan types can help you pick one to fit your budget and meet your health care needs. To learn the specifics about a brand's particular health plan, look at its summary of benefits.

Health Maintenance Organization (HMO)

An HMO delivers all health services through a network of healthcare providers and facilities. With an HMO, you may have:

The least freedom to choose your health care providers

The least amount of paperwork compared to other plans

A primary care doctor to manage your care and refer you to specialists when you need one so the care is covered by the health plan; most HMOs will require a referral before you can see a specialist.

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What doctors you can see. Any in your HMO's network. If you see a doctor who is not in the network, you'll may have to pay the full bill yourself. Emergency services at an out-of-network hospital must be covered at in-network rates, but non-participating can doctors who treat you in the hospital can bill you.

What you pay:

Premium: This is the cost you pay each month for insurance.

Deductible: Your plan may require you to pay the amount of a deductible before it covers care except for preventive care.

Copays and/or co-insurance for each type of care. A copay is a flat fee, such as $15, that you pay when you get care. Coinsurance is when you pay a percent of the charges for care, for example 20%. These charges vary according to your plan and they are counted toward your deductible.

Paperwork involved. There are no claim forms to fill out.

Preferred Provider Organization (PPO)

With a PPO, you may have:

A moderate amount of freedom to choose your health care providers -- more than an HMO; you do not have to get a referral from a primary care doctor to see a specialist.

Higher out-of-pocket costs if you see out-of-network doctors vs. in-network providers

More paperwork than with other plans if you see out-of-network providers

What doctors you can see. Any in the PPO's network; you can see out-of-network doctors, but you'll pay more.

What you pay:

Premium: This is the cost you pay each month for insurance.

Deductible: Some PPOs may have a deductible. You will likely have to pay a higher deductible if you see an out-of-network doctor.

Copay or coinsurance: A copay is a flat fee, such as $15, that you pay when you get care. Coinsurance is when you pay a percent of the charges for care, for example 20%.

Other costs: If your out-of-network doctor charges more than others in the area do, you may have to pay the balance after your insurance pays its share.

Paperwork involved. There's little to no paperwork with a PPO if you see an in-network doctor. If you use an out-of-network provider, you'll have to pay the provider. Then you have to file a claim to get the PPO plan to pay you back.

Continued

Exclusive Provider Organization (EPO)

Exclusive Provider Organization (EPO)

With an EPO, you may have:

A moderate amount of freedom to choose your health care providers -- more than an HMO; you do not have to get a referral from a primary care doctor to see a specialist.

No coverage for out-of-network providers; if you see a provider that is not in your plan's network - other than in an emergency - you will have to pay the full cost yourself.

Lower premium than a PPO offered by the same insurer

What doctors you can see. Any in the EPO's network; there is no coverage for out-of-network providers.

Premium: This is the cost you pay each month for insurance.

Deductible: Some EPOs may have a deductible.

Copay or coinsurance: A copay is a flat fee, such as $15, that you pay when you get care. Coinsurance is when you pay a percent of the charges for care, for example 20%.

Other costs: If you see an out-of-network provider you will have to pay the full bill.

Paperwork involved. There's little to no paperwork with an EPO.

Point-of-Service Plan (POS)

A POS plan blends features of an HMO with a PPO. With POS plan, you may have:

More freedom to choose your health care providers than you would in an HMO

A moderate amount of paperwork if you see out-of-network providers

A primary care doctor who coordinates your care and who refers you to specialists

What doctors you can see. You can see in-network providers your primary care doctor refers you to. You can see out-of-network doctors, but you'll pay more.

What you pay:

Premium: This is the cost you pay each month for insurance.

Deductible: Your plan may require you to pay the amount of a deductible before it covers care beyond preventive services.You may pay a higher deductible if you see an out-of-network provider.

Copays or coinsurance: You will pay either a copay, such as $15, when you get care or coinsurance, which is a percent of the charges for care. Copayments and coinsurance are higher when you use an out-of-network doctor.

Paperwork involved. If you go out-of-network, you have to pay your medical bill. Then you submit a claim to your POS plan to pay you back.

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Catastrophic Plan

If you are under the age of 30 you can purchase a catastrophic health plan. With a catastrophic health plan you may have:

Lower premium

3 primary care visits before the deductible applies

Free preventive care, even if you haven't met the deductible

What doctors you can see. Any in the plan's network; individual plans may have additional rules on specialists.

What you pay:

Premium: This is the cost you pay each month for insurance.

Deductible: A catastrophic health plan has a deductible of $7,350 for an individual and $14,700 for a family in 2018. After you reach that deductible, the plan will pay 100% of your medical costs for covered benefits.

Paperwork involved. You will want to keep track of your medical expenses to show you have met the deductible.

High-Deductible Health Plan With or Without a Health Savings Account

Similar to a catastrophic plan, you may be able to pay less for your insurance with a high-deductible health plan (HDHP). With an HDHP, you may have:

One of these types of health plans: HMO, PPO, EPO, or POS

Higher out-of-pocket costs than many types of plans; like other plans, if you reach the maximum out-of-pocket amount, the plan pays 100% of your care.

A health savings account (HSA) to help pay for your care; the money you put in an HSA is not taxed and can be used tax-free on eligible medical expenses. In order to have a HSA, you must be enrolled in a HDHP.

Many bronze plans may qualify as HDHPs depending on the deductible (see below).

W hat doctors you can see . This varies depending on the type of plan -- HMO, POS, EPO, or PPO

What you pay:

Premium: An HDHP generally has a lower premium compared to other plans.

Deductible: The deductible is at least $1,350 for an individual or $2,700 for a family, but not more than $6,650 for an individual and $13,300 for a family in 2018. Like with al plans, your preventive care is free even if you haven't met the deductible.

Copays or coinsurance: Other than preventive care, you must pay all your costs up to your deductible when you go for medical care. You can use money in your HSA to pay these costs.

Continued

You can set up a Health Savings Account to help pay for your costs. The maximum you can contribute to an HSA in 2018 is $3,450 for individuals and $6,900 for families.

Paperwork involved. Keep all your receipts so you can withdraw money from your HSA and know when you've met your deductible.

WebMD Medical Reference Reviewed by Sarah Goodell on July 24, 2018

Sources

SOURCES:

Fair Health, Inc.: "Alphabet Soup of Health Plans" and "Understanding High-Deductible Health Plans."

The Henry J. Kaiser Family Foundation. "Health Reform FAQs: Marketplace Eligibility, Enrollment Periods, Plans and Premiums."

Society for Human Resource Management: "For 2015, Higher Limits for HSA Contributions and Deductibles."

Internal Revenue Service.

Life and Health Insurance Foundation for Education: "What are the Different Types?"

Minnesota Medicine, February 2011: "Five Payment Models: The Pros, the Cons, the Potential."

Office of Personnel Management: "Healthcare Plan Information" and "2013 High-Deductible Health Plans with Health Savings Accounts/Health Reimbursement Arrangements."

U.S. Department of Health and Human Services, Agency for Healthcare Research and Quality: "Choosing a Health Plan."

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You have choices when you shop for health insurance. If you're buying from your state's Marketplace or from an insurance broker, you'll choose from health plans organized by the level of benefits they offer: bronze, silver, gold, and platinum. Bronze plans have the least coverage, and platinum plans have the most.

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Cost of home= $350,000
20% Down Payment= $1,317.46
Property Taxes=
Loan Amounts(amount financing)= $10,000 loan with a Monthly payment of $186.83
Monthly Payment=  $2,101

REFLECTION
This house

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Bank of America
Bank of America is just down the street from my house. I live in Grayslake but also go to Chicago on the weekends and there is also a Bank of America down the street from my home out there. Location does play a factor to where I will bank because I want something for convenient and close to me, not a bank where I have to travel more.
Service offered by bank:
Family life banking- Helps you find out how to make the most financial life for you and your family.
Short term saving calculator-
Fees:
No monthly maintenance fees for each statement cycle that you maintain a minimum daily balance of at least $500 or pay $8.
No ATM fees
Non- Bank of America- $2.50 each within U.S and $5 outside U.S
Card replacement: $5
Stopping a payment: $30
Cashier checks: $10
Overdraft protection fee: $12
Withdrawal limit fee:
Make a total of 6 transfers and withdrawals each monthly statement cycle with no withdrawal fee but a $10 fee applies for each additional transfer and withdrawal you make before cycle ends.
Required opening deposit: $100
Perks:
Overdraft Protection, Automatic transfers, FDIC insured, Alerts, Financial Networks and Mobil banking.

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Savings Account - Open a Rewards Savings Account Online

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Whether you're new to saving or an experienced saver, enjoy a wide-range of benefits with one simple savings account from Bank of America. Open a Rewards Savings account online and receive benefits on interest rates, FDIC insurance, overdraft protection, transfers and more.