ASSIGNMENT 10 PTS - Guidance for Personal Finance final project (Maximum of 5 Pages in Word, Times New Roman, 12) : Due date May 10,2020 The project is to plan to purchase a house, its price ranges between 350K700K in 5-10 years duration. The project steps are the following: 1. Prepare your personal Financial statements ( Balance sheet, Income statement, cash flow statement ) 2. Manage your liquidity by detailing how much money you need monthly and what are the different expenses ( in details ) that you are spending on and then calculate the amount of a 3 months emergency fund that should be kept aside in case of any emergency. 3. After deducting the total expenses plus the emergency fund from the assets that you have, you could now determine how much money you could invest or save for your project (acquiring a home). 4. Identify the gap between what you have and what you suppose to get to cover that gap (e.g. investment, tax planning, expenses deduction, new employment etc.) 5. Start now to gather information about at least three houses with all of its details ( convenient place, price, date of renovation, size, proximity to metro/ bus stations, shopping areasetc. ) select one after doing comparative analysis between the three options. 6. Now search for a proper mortgage by doing thorough analysis of different mortgage options and reach a conclusion about one of them ( I need to see real data from different banks and institutions ).