Enhanced Financial Habit Builder

Enhanced Financial Habit Builder

What is your primary financial goal? Select your goal Build an Emergency Fund Create and Stick to a Budget Pay Off Debt Start or Increase Investing What is your monthly income? What are your total monthly expenses? How much of your income do you currently save each month (in percentage)? If applicable, how much total debt do you have? If applicable, how much do you want to invest per month? Build My Financial Habits

• 50% for Needs (housing, food, utilities): $${needs.toFixed(2)}
• 30% for Wants (entertainment, dining out): $${wants.toFixed(2)}
• 20% for Savings/Debt Repayment: $${savings.toFixed(2)}

Track your spending closely and adjust your expenses to fit within these guidelines.

`; } else if (financialGoal === 'debt') { var debtRepaymentTarget = disposableIncome * 0.3; // Allocate 30% of disposable income to debt repayment var debtRepaymentMonths = Math.ceil(debtAmount / debtRepaymentTarget); habitMessage = `

Goal: Pay Off Debt.

You have a total debt of $${debtAmount.toFixed(2)}. To reduce your debt effectively, aim to allocate at least $${debtRepaymentTarget.toFixed(2)} per month (30% of your disposable income) towards debt repayment.

At this rate, you can be debt-free in approximately ${debtRepaymentMonths} months.

We recommend using the debt snowball method (starting with the smallest debt first) or the debt avalanche method (paying off high-interest debt first).

`; } else if (financialGoal === 'investing') { var investableIncome = disposableIncome * 0.2; habitMessage = `

Goal: Start or Increase Investing.

You've set an investment goal of $${investmentGoal.toFixed(2)} per month. To achieve this, aim to allocate at least $${investableIncome.toFixed(2)} (20% of your disposable income) towards investments.

We recommend automating your investments and focusing on low-cost, diversified options like index funds.

`; } // Display results result.innerHTML = habitMessage; });