Continuing Case: Tarek's Financial Journey

monthly budget and a balance sheet for your review.

Instructions

Use the information in these documents to answer the following questions.

a$.$ How close is Tarek to meeting his monthly budget $($spending plan$)?$ Is there anything that he can do to improve his situation?

b$.$ What is Tarek's current net worth? How does this compare, in general, to others his age?

c$.$ What is Tarek's budgeted savings ratio? Does this meet the guideline discussed in the chapter?

d$.$ How well is Tarek managing his debt? Be sure to calculate the current ratio, debt ratio, debt$-$to$-$income ratio, and the long$-$term debt coverage ratio when answering this question.

e$.$ If Tarek were to lose his job, how long would his savings last, assuming he cut back expenses to only essential items? Has he met the guideline discussed in the chapter?