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Example 1 - Plan to Save Consider Lan, who would like to save 3 mil vnd per month toward the purchase of a home. Lan's
Example 1 - Plan to Save Consider Lan, who would like to save 3 mil vnd per month toward the purchase of a home. Lan's income and spending in the past month are shown below. Use this information to answer the questions that follow Lan's Income and Spending (trd) Income Spending Net (after tax) Wages 28.5 Rent/Utilities 7.5176 Interest Earned 0.6407 Food 3.4832 Stock dividends 1.2 Clothing 2.3942 Transportation 4.9961 Loan payments 2.99 Entertainmet 4.5492 Insurance 2.3142 Other 2.7345 How much was Lan's income? How much did Lan spend? What change was there in Lan's savings? Which types of spending could Lan adjust in the short run? Which types could she not adjust? What would you recommend Lan do to
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