1-As a percentage of your estimated monthly disposable income (which you identified in Week 2), what proportion is represented by your monthly automobile, mortgage, and/or rental payments? What is the percentage remaining after those monthly expenses have been deducted? Assess and discuss the implications in terms of how they influence your personal financial planning.

2-Suppose you found yourself in a position where your monthly level of income was cut in half. Assume this misfortune will persist for the long term. Discuss the effect such a salary reduction would have on your current lifestyle. What conclusions can you draw? What changes would you make regarding your expenses and how would you implement any new financial strategies?