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How can using personal financial planning tools help you improve your financial situation

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Question;1. How can using personal financial planning tools help you improve your financial situation? Describe changes you can make in at least three areas.2. Recommend three financial goals and related activities for someone in each of the following circumstances:1. A Junior in college2. A 30-year-old computer programmer who plans to earn an MBA degree3. A couple in their 30s with two children, ages 5 and 94. A divorced 42-year-old man with a 16-year-old child and a 72-year-old father who is ill3. Summarize current and projected trends in the economy with regard to GDP growth, unemployment, and inflation. How should you use this information to make personal financial and career planning decisions?4. Assume that you graduated from college with a major in marketing and took a job with a large consumer products company. After three years, you are laid off when the company downsizes. Describe the steps you?d take to ?repackage? yourself for another field.5. Scott Bennett is preparing his balance sheet and income and expense statement for the year ending June 30, 2016. He is having difficulty classifying six items and asks for your help. Which, if any, of the following transactions are assets, liabilities, income, or expense items?1. Scott rents a house for $1,350 a month.2. On June 21, 2016, Scott bought diamond earrings for his wife and charged them using his MasterCard. The earrings cost $900, but he hasn?t yet received the bill.3. Scott borrowed $3,500 from his parents last fall, but so far, he has made no payments to them.4. Scott makes monthly payments of $225 on an installment loan, about half of it is interest, and the balance is repayment of principal. He has 20 payments left, totaling $4,500.5. Scott paid $3,800 in taxes during the year and is due a tax refund of $650, which he hasn?t yet received.6. Scott invested $2,300 in some common stock.

 

Paper#50117 | Written in 18-Jul-2015

Price : $22
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