After these payments, you have your residual income which is typically used for personal expenses such as gas, groceries, entertainment, etc.. (vahomeloancenters.org)
Full replacement value coverage will cost you a little more, but it will also save you a lot of personal expense when a claim is filed. (usinsuranceagents.com)
Additionally, he still has a $ 500 balance which he can use for other personal expenses. (trustedchoice.com)