1. Hannah owns a house, a car, furniture, and a few valuable art pieces that she acquired while traveling in Europe. However, she also has a mortgage, a car loan, and student debt. Using her personal balance sheet, she determines that the total value of her personal assets is $350,000 and the total value of her unpaid debts is $200,000. Based on these numbers, what is her personal net worth?

a. $75,000

b. $550,000

c. $350,000

d. $200,000

e. $150,000

2. Dylan is a young professional who works in a very social office. People often go out for lunch during work and for dinner and drinks after work. His co-workers often invite him to go with them to the theater, concerts, and sporting events. As a result, he is having trouble adhering to his food and entertainment budget. What is the most likely resolution to this situation?

a. limiting himself to cash payments

b. leaving all his money and other payment methods at home every day

c. borrowing money from his friends and family for these items

d. using his company credit card for these expenses

e. using a debt card instead of a credit card to avoid unexpected charges