1. Create a cash flow diagram, and an overall balance sheet. First 5 Years (25-30):| Amount Interest Rate (%) Minimum Payment/mo Student Loan Debt 50000 6.45 566.47 Credit Card Debt 5000 19 4% Starting Salary 3000 /mo 0 1061.03 /mo 0 Monthly Housing Costs(Heat, lights, water) Monthly Food Costs 400 /mo 0 150 /mo Monthly Entertainment Budget 1.5 /mo High Interest Savings Account 350.88 /mo (2/3 of 526.32 remaining after all budgets subtracted) Retirement Saving 3.45 lannum 175.44 /mo (1/3 of 526.32 remaining after all budgets subtracted) Monthly: Income (+) Expenses (-) Total Salary $3000 $3000 Student Loan debt ($566.47) $2433.53 Credit Card Debt ($296.18) $2137.35 Rent ( Studio ) ($900) $1237.35 Utilities ( Water, Heat and electricity ) ($161.03) $1076.32 Food costs ($400) $676.32 ($150) $526.32 Entertainment Budget ($350.58) $175.44 High Interest Savings Account Retirement Saving ($175.44) $0 1. Create a cash flow diagram, and an overall balance sheet. First 5 Years (25-30):| Amount Interest Rate (%) Minimum Payment/mo Student Loan Debt 50000 6.45 566.47 Credit Card Debt 5000 19 4% Starting Salary 3000 /mo 0 1061.03 /mo 0 Monthly Housing Costs(Heat, lights, water) Monthly Food Costs 400 /mo 0 150 /mo Monthly Entertainment Budget 1.5 /mo High Interest Savings Account 350.88 /mo (2/3 of 526.32 remaining after all budgets subtracted) Retirement Saving 3.45 lannum 175.44 /mo (1/3 of 526.32 remaining after all budgets subtracted) Monthly: Income (+) Expenses (-) Total Salary $3000 $3000 Student Loan debt ($566.47) $2433.53 Credit Card Debt ($296.18) $2137.35 Rent ( Studio ) ($900) $1237.35 Utilities ( Water, Heat and electricity ) ($161.03) $1076.32 Food costs ($400) $676.32 ($150) $526.32 Entertainment Budget ($350.58) $175.44 High Interest Savings Account Retirement Saving ($175.44) $0