Chapter 1, Problem 1CC

Summary Introduction

Case summary:

Mrs. S has a flair for grooming dogs and cats. Mrs. S has been living with a roommate in an apartment near her work in order to reduce her living expenses. However, she continuously uses her credit card to make ends meet. Her personal property consists of a 2005 car, a television, a digital camera, a laptop computer, clothing and home furnishing with a total value of $7,300.

Character in this case: Mrs. S.

Adequate information:

Monthly income is $1,750.

Living expenses are $1,210.

Personal property is $7,300.

Savings are $2,000.

Student loan is $3,000.

Credit cards debt are $2,400.

To determine:

Personal financial decisions which will be beneficial for future.

Introduction: Financial decision helps an individual to make plans for future, wealth management and investment decisions.