S is earning a fixed amount of income every month and is using her credit card to meet her needs. She has to pay a nominal amount of money required by the credit card company and her credit card debt is rising at a very high pace which can be problematic for her in the future. She is unable to track her expenses but is able to convey them to her roommate. She has also maintained an emergency fund but she is not clear about the amount that is to be kept as an emergency fund. Characters in the case: S and M. Adequate information: She is a college student aged 21 years with no dependents and earns $1,750 monthly and also owns a personal property of $7,300. To determine: The total fixed and variable expenses of S for each month and to determine the surplus or deficit with comparison to her monthly income.

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Chapter 3, Problem 1CC

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Case summary:

S is earning a fixed amount of income every month and is using her credit card to meet her needs. She has to pay a nominal amount of money required by the credit card company and her credit card debt is rising at a very high pace which can be problematic for her in the future. She is unable to track her expenses but is able to convey them to her roommate. She has also maintained an emergency fund but she is not clear about the amount that is to be kept as an emergency fund.

Characters in the case: S and M.

Adequate information: She is a college student aged 21 years with no dependents and earns $1,750 monthly and also owns a personal property of $7,300.

To determine:

The total fixed and variable expenses of S for each month and to determine the surplus or deficit with comparison to her monthly income.

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