5. Jamie Lee now has to juggle the three monthly credit card bills for each of the retailers where she purchased her home furnishings. She is interested in getting one loan to consolidate the three store consumer credit cards so she may make a single payment on the goods per month. Using Your Personal Financial Plan, sheet 17, compare the consumer loan options that Jamie Lee may consider.

What are your recommendations for her to consolidate her monthly consumer charge bills?Jamie Lee Jackson, age 27, full-time student and part-time bakery employee, has just moved into a bungalow-style, unfurnished home of her own. The house is only a one-bedroom, but the rent is manageable and it has plenty of room for Jamie Lee. She decided to give notice to her roommate that she would be leaving the apartment and the shared expenses after the incident with the stolen checkbook and credit cards a few weeks back. Jamie had to dip into her emergency savings account to help cover the deposit and moving expenses, because she had not planned to move out of the apartment and be on her own this soon.

Jamie is in need of a few appliances, as there is a small laundry room but no washer or dryer, nor is there a refrigerator in the kitchen. She will also need a living room set and a television, because Jamie only had a bedroom set to move in with. Jamie is so excited to finally have the say in how she will furnish the bungalow, and she began shopping for her home as soon as the lease was signed.

Current Financial Situation Assets:
Checking account, $1,800 Savings account, $7,200 Emergency fund savings account, $2,700 IRA balance, $410 Car, $2,800 Liabilities:
Student loan balance, $10,800 (Jamie is still a full-time student, so no payments are required on the loan until after graduation)
Credit card balance, $4,250 (total of three store credit cards)
Income:
Gross monthly salary from the bakery, $2,750 (net income, $2,175)
Monthly Expenses:
Rent, $350 Utilities, $70 Food, $125 Gas/Maintenance, $130 Credit card payment, $0