Financial Planning Assignment Introduction Your assignment is based on a case for Elinor Jamieson. Her net worth and cash flow are shown below. Use information in Module 2 Net Worth, Module 3 Cash flow, Module 4 Time Value of Money, Modules Goal Setting and Module 6 Communication to complete this assignment Read these instructions carefully, more than once. Read all 8 pages (8 pages include financial statements). Every term, some students complain they did not notice the full instructions. There are 8 pages. Read them all, more than once. There are two parts to this assignment: 1. Written submission including Word and Excel (50% of assignment grade) 2. Video questions (50% of assignment grade) This is an individual assignment. All work must be original and created by you alone. No citations are required because you should not be researching or quoting any other source. Two or more students submitting very similar work will receive a grade of zero on the written part of the assignment. Check FOL Evaluations/Submissions for the assignment deadline. A rubric is available in this location A. The case: Elinor Jamieson Elinor lives independently and alone and works full time. She earns 548,000 per year. She receives $3,173.42 net per month after payroll deductions for CPP, Et income tax. She expects her income to increase slowly, but she wants to plan based on her current income and not assume increases in pay. Her full net worth and cash flow appears at the end of this case description. This description includes partial details about her preferences and her lifestyle. Elinor has tried to do things the right way all her life. She graduated from post-secondary education 3 years ago and got hired full-time in a job she likes. Now she wants your professional opinion on the best way to improve and strengthen her financial situation for the future. She successfully paid off a loan to her parents two years after graduation. When that was finished, she increased her student loan payment. As a result, her student loan will be paid off 8 years from now. She regrets accumulating credit card debt when she celebrated her graduation with an overseas trip, and furnished her apartment with some basic furnishings, and bought a lot of new clothes for her job. Her credit card debt is $5,500. Each month she pays $200 to reduce the accumulated balance on her credit card. With this plan, the credit card will be paid off in 3 years. She is determined to pay the credit card directly and not use a line of credit. She has friends who used lines of credit, and then increased their credit card balance again. She is motivated to pay the credit card directly Elinor likes to cook, and buys groceries regularly. She also goes out to a restaurant with friends twice per month, spending just over $30 on average for her share each time. On Friday nights after work she buys take-out food for $20 to celebrate the end of the week. Usually she brings leftovers from home for lunch, but twice per month she goes out for a casual lunch with people from work. She pays $20 each time on average 1 of 8 Financial Planning Assignment Elinor has a drivers licence, but no car. Occasionally she borrows her parents' car, but she takes the bus for work, and uses a ride service when she goes out to bars and parties with friends, which is about twice per month. Sometimes friends with cars will take her shopping with them, or to the beach, and she contributes money for gas on those occasions. She hopes to buy a car in future. Elinor enjoys doing crafts as a hobby to relax at home after the pressures of work are done. She creates interesting items for her home, and also makes greeting cards for family and friends for many occasions. Elinor works with clients for an upscale company, and believes it's important to maintain a polished professional image. She gets her hair cut a few times per year, wears cosmetics, and spends about $1,200 on shoes and clothes for work each year. She also buys some items for casual wear, and a new pair of running shoes each year for walking and jogging. She replaces her winter outwear and warm boots, gloves, hat, and scarf every few years. Elinor has a health problem that doesn't affect her life or work much, but requires ongoing medication. She pays for a standard health insurance policy that covers the cost of her medication and dental needs. Her employer does not provide these benefits. She has a cat to cuddle and keep her company and make her laugh. Elinor loves to travel, but after the big graduation trip, she keeps her annual vacation to I week when she travels to see family. She boards her cat at her veterinarian when she goes away. She feels responsible to improve the world, and considered many charities. She decided to donate $25 per month to the local food bank. Recently, she started saving $50 per month for emergencies She keeps gifts to a minimum, preferring to deliver her handmade greeting cards, She gives gifts to her young nieces and nephews on their birthdays, and participates in group gifts at the office for co- workers. On average, one friend gets married per year. She has stopped travelling for weddings, but will usually buy a new dress and take a gift if the wedding is local. Elinor has a long-term view, and doesn't like to make many changes. For example, she chose an apartment where she expects to be happy for years. She doesn't want to move. She is furnishing slowly and carefully with quality items that she does not want to have to replace. She enjoys slowly creating a home that she is comfortable in. Elinor absolutely will not request financial help from her friends or family. B: How to prepare: Written submission 1. Assess net worth according to tools presented in Module 2 Net Worth. Make sure to explain your analysis so that the client understands what it means to her personally, not just textbook definitions that apply to anybody 2. Assess cash flow according to tools presented in Module 3 Cash Flow. Make sure to explain your analysis so that the client understands what it means to her personally, not just textbook definitions that apply to anybody. 3. Imagine a goal that naturally comes from your assessment of her financial situation. Remember, she wants you to help her improve her financial situation. Based on your analysis of net worth and cash flow, what would be an improvement to her financial situation? Imagine discussions 2 of 8 Financial Planning Assignment with the client that lead to her goal to improve her financial situation. Explain how this goal would improve her financial situation and why you suggest it as top priority. Imagine discussions with the client to fully define the goal according to her motivation and preferences. (all 10 points as presented in Module 5 Goal Setting). Use the ParticipACTION process to show five questions starting with surface, shallow description of goal and leading to deeper personal meaning. Remember, you are imagining a discussion with this client, and the result must reflect a deep, individual, personal, emotionat motive for the goal that reflects her personal preferences and motivation. Use Time Value of Money (TVM) to calculate the monthly amount needed to achieve her goal. Show your TVM calculation in an appendix (end of document, not within the letter). 4. Identify 2 or more discretionary costs that could be reduced, if the client agrees, in order to make funds available to achieve the goal. In choosing, you must consider her personal priorities. Explain current frequency/spending habit and give a specific, detailed explanation of how she could change her habit to reduce the necessary amount. Make sure your suggestion is mathematically correct, and is detailed so that she knows exactly what to do. (es. don't say "reduce expense item x by 30%". This is not detailed. For example, state the current habit frequency and cost per time. Are you going to suggest a reduced frequency? Or a lower cost alternative? Review strategies in Module 3, Cash flow) 5. Create a revised cash flow statement: Read the following carefully. Your revised cash flow statement will show BOTH current cash flow and additional columns to show the revised amounts that include the new goals and your suggestions for cost reductions. Re-create the existing cash flow statement in Excel with one additional column to show revised monthly amount. If she will increase a debt payment show new amount in revised column. If there is a savings goal, add in a line to show savings for name of goal and put the amount in the revised column (previously zero). Show all changes to monthly amounts for all affected expenses. Make sure your Excel cash flow statement has a professional appearance as described in Module 3 Cash Flow. The Excel spreadsheet must be working with Excel functions. For example, formulas for totals must be set up so that the document updates automatically if you change a number in any of the columns 6. Write a summary letter to the client explaining her current financial situation analysis of net worth and cash flow), full description of the goal they have defined with you, and the suggested strategy for expense reductions to achieve the goal. Make sure you write in a collaborative way, which shows that you and the client have been involved in discussions together and the work reflects the client priorities, not just your recommendations. Your letter is a full summary of the final decisions the two of you made together. You will be graded on your professional and friendly tone, and ease of reading. Use the Readability Statistics in Word to achieve the target of >60% readability score, and grade level 6-9. The letter should be between 1 and 2 pages in length. It would be difficult to achieve everything in one page. Longer than two pages should be edited for clarity and to be briefer. C: What to submit: 1. Submit a Word document for the letter. Calculations from your analysis and goal calculation should be included in an appendix at the end of your Word document, not in the letter. 3 of 8 Financial Planning Assignment 2. Submit a revised cash flow in Excel showing all columns for existing cash flow and additional monthly column showing changes. D: Video questions - see Assignment Video questions in FOL/Content/Assignment/Assignment Video Questions You will answer three video questions. Click on the question. You have 30 seconds to think about your answer. Then you have 1 minute to answer the question. You must have a working webcam and microphone The questions will be about the case and your assignment. The following is a list of potential topics. 1. Assessment of current financial situation a. Question about net worth assessment liquidity ratio and meaning b. Question about net worth assessment current ratio and meaning c. Question about net worth assessment debt/asset ratio and meaning d. If nothing changes, what do you expect will happen to the client net worth in the coming years? Explain your answer. e. Question about cash flow assessment - discretionary expenses vs. necessity expenses t. Question about cash flow assessment - which lifestyle areas appear to be a priority for this client? & Explain the biggest risk she currently faces for her financial security 2. Question about goal a. Explain the deep, personal, emotional client motive for the specific goal (as imagined by you as you imagine interactions with the client). b. Explain the deep, personal, emotional client motive for the measure of the goal. c. Explain the deep, personal, emotional client reason for the time frame of the goal d. Explain why you believe the goal is realistic. (prove it) e. Explain how will achieving the goal improve the financial situation. How can this be measured? 3. Question about revised cash flow a. Question about why you picked the expense items you picked for reduction and why you didn't pick other expense items. b. Which cash management strategy did you pick to reduce an expense item, and why did you pick that strategy for that item? Net worth statement and cash flow statement below. 4 of 8 Financial Planning Assignment Elinor Jamieson Net Worth Statement January 1, 2022 Value Total Assets Liquid assets Bank account Separate account for emergency fund Total liquid assets 2,200 150 2,350 Household assets Computer Furniture & household items (15% of cost assumed) Total household assets 1,000 2,250 3.250 Total assets $5,600 Liabilities Current liabilities Credit card (19% interest) Total current liabilities 5,500 5.500 25,000 Long term liabilities Student loan (3% interest) Total long term liabilities Total Liabilities 25,000 $30,500 Net Worth -$24,900 Cash flow statement below 5 of 8 Financial Planning Assignment Elinor Jamieson Cash Flow Statement January 1, 2022 Monthly Average Annual Amount % of total Description Income Net income insert rows for sources) Total income 3,173.42 3,173.42 38,081.00 38,081.00 100% 50.00 50.00 600.00 600.00 200.00 293.00 493.00 2.400.00 3,516.00 5,916.00 16% Savings Emergency fund Total savings Debt repayment Credit card repayment of outstanding balance Student loan Total Debt Repayment Housing Rent Tenant insurance Furnishings and appliances Household supplies. cleaning garbage bags etc. Household supplies - repair materials - glue, sewing Household supplies - paper, ink, tape, string etc. Household supplies - kitchen, bed, bath Total housing 1,100.00 25.00 25.00 5.00 5.00 5.00 20.00 1,185.00 13,200.00 300.00 300.00 60.00 60.00 60.00 240.00 14,220.00 37% Communications Telephone/cell phone Internet Entertainment subscriptions - Netflix and music Total Communications 70.00 50.00 30.00 150.00 840.00 600.00 360.00 1,800.00 5% Food Groceries Dining out Take-out Lunches out Total food 220.00 65.00 87.00 40.00 412.00 2.640.00 780.00 1,044.00 480.00 4,944.00 13% 6 of 8 Financial Planning Assignment Monthly Average Annual Amount % of total Description Transportation Driver's licence renewal Public transportation weekday only pass Ride services Gas money to friends Total transportation Education Tuition Total education 1.50 81.00 80.00 10.00 172.50 18.00 972.00 960.00 120.00 2,070.00 5% 41.67 41.67 500.00 500.00 1% Recreation, hobbies, entertainment, habits Travel and vacation Bars and parties Hobbies Total recreation, hobbies, entertainment, habits 83.33 60.00 20.83 164 17 1,000.00 720.00 250.00 1,970.00 5% 20.00 20.00 15.00 55.00 240.00 240.00 180.00 660.00 2% Personal Care Hairdresser/barber Cosmetics and skin care Daily supplies (soap, shampoo, toothpaste etc.) Total personal care Clothing Work clothes Casual clothes Seasonal outerwear-rain, snow etc. Exercise clothes Dressy occasion clothes Shoes - exercise, casual, work, dressy, outdoor winter Laundry supplies Dry cleaning Alterations and repairs Total clothing 75.00 20.83 20.00 6.67 12.50 25.00 4.17 8.33 16.67 189.17 900.00 250.00 240.00 80.00 150.00 300.00 50.00 100.00 200.00 2,270.00 6% Medical Medical and dental insurance plan Over the counter medications Total medical 94.00 6.25 100.25 1,128.00 75.00 1,203.00 3% 7 of 8 Financial Planning Assignment Monthly Averare Annual Amount % of total 33.33 20.83 15.00 5.83 75.00 400.00 250.00 180.00 70.00 900.00 2% Description Pets Cat food Cat supplies - cat litter, toys, beds, accessories, leashes, Pet insurance Boarding Total pets Gifts and Donations Charitable donations Gifts to family Gifts through work (group gifts for colleagues) Special occasion gifts weddings, births, memorial Greeting cards supplies to make her own Total gifts and donations TOTAL EXPENSES Shortfall/surplus amount 25.00 20.83 8.33 12.50 20.83 87.50 300.00 250.00 100.00 150.00 250.00 1,050.00 3% 3.175.25 38, 103.00 100% -$1.83 -$22.00 0% 8 of 8 Financial Planning Assignment Introduction Your assignment is based on a case for Elinor Jamieson. Her net worth and cash flow are shown below. Use information in Module 2 Net Worth, Module 3 Cash flow, Module 4 Time Value of Money, Modules Goal Setting and Module 6 Communication to complete this assignment Read these instructions carefully, more than once. Read all 8 pages (8 pages include financial statements). Every term, some students complain they did not notice the full instructions. There are 8 pages. Read them all, more than once. There are two parts to this assignment: 1. Written submission including Word and Excel (50% of assignment grade) 2. Video questions (50% of assignment grade) This is an individual assignment. All work must be original and created by you alone. No citations are required because you should not be researching or quoting any other source. Two or more students submitting very similar work will receive a grade of zero on the written part of the assignment. Check FOL Evaluations/Submissions for the assignment deadline. A rubric is available in this location A. The case: Elinor Jamieson Elinor lives independently and alone and works full time. She earns 548,000 per year. She receives $3,173.42 net per month after payroll deductions for CPP, Et income tax. She expects her income to increase slowly, but she wants to plan based on her current income and not assume increases in pay. Her full net worth and cash flow appears at the end of this case description. This description includes partial details about her preferences and her lifestyle. Elinor has tried to do things the right way all her life. She graduated from post-secondary education 3 years ago and got hired full-time in a job she likes. Now she wants your professional opinion on the best way to improve and strengthen her financial situation for the future. She successfully paid off a loan to her parents two years after graduation. When that was finished, she increased her student loan payment. As a result, her student loan will be paid off 8 years from now. She regrets accumulating credit card debt when she celebrated her graduation with an overseas trip, and furnished her apartment with some basic furnishings, and bought a lot of new clothes for her job. Her credit card debt is $5,500. Each month she pays $200 to reduce the accumulated balance on her credit card. With this plan, the credit card will be paid off in 3 years. She is determined to pay the credit card directly and not use a line of credit. She has friends who used lines of credit, and then increased their credit card balance again. She is motivated to pay the credit card directly Elinor likes to cook, and buys groceries regularly. She also goes out to a restaurant with friends twice per month, spending just over $30 on average for her share each time. On Friday nights after work she buys take-out food for $20 to celebrate the end of the week. Usually she brings leftovers from home for lunch, but twice per month she goes out for a casual lunch with people from work. She pays $20 each time on average 1 of 8 Financial Planning Assignment Elinor has a drivers licence, but no car. Occasionally she borrows her parents' car, but she takes the bus for work, and uses a ride service when she goes out to bars and parties with friends, which is about twice per month. Sometimes friends with cars will take her shopping with them, or to the beach, and she contributes money for gas on those occasions. She hopes to buy a car in future. Elinor enjoys doing crafts as a hobby to relax at home after the pressures of work are done. She creates interesting items for her home, and also makes greeting cards for family and friends for many occasions. Elinor works with clients for an upscale company, and believes it's important to maintain a polished professional image. She gets her hair cut a few times per year, wears cosmetics, and spends about $1,200 on shoes and clothes for work each year. She also buys some items for casual wear, and a new pair of running shoes each year for walking and jogging. She replaces her winter outwear and warm boots, gloves, hat, and scarf every few years. Elinor has a health problem that doesn't affect her life or work much, but requires ongoing medication. She pays for a standard health insurance policy that covers the cost of her medication and dental needs. Her employer does not provide these benefits. She has a cat to cuddle and keep her company and make her laugh. Elinor loves to travel, but after the big graduation trip, she keeps her annual vacation to I week when she travels to see family. She boards her cat at her veterinarian when she goes away. She feels responsible to improve the world, and considered many charities. She decided to donate $25 per month to the local food bank. Recently, she started saving $50 per month for emergencies She keeps gifts to a minimum, preferring to deliver her handmade greeting cards, She gives gifts to her young nieces and nephews on their birthdays, and participates in group gifts at the office for co- workers. On average, one friend gets married per year. She has stopped travelling for weddings, but will usually buy a new dress and take a gift if the wedding is local. Elinor has a long-term view, and doesn't like to make many changes. For example, she chose an apartment where she expects to be happy for years. She doesn't want to move. She is furnishing slowly and carefully with quality items that she does not want to have to replace. She enjoys slowly creating a home that she is comfortable in. Elinor absolutely will not request financial help from her friends or family. B: How to prepare: Written submission 1. Assess net worth according to tools presented in Module 2 Net Worth. Make sure to explain your analysis so that the client understands what it means to her personally, not just textbook definitions that apply to anybody 2. Assess cash flow according to tools presented in Module 3 Cash Flow. Make sure to explain your analysis so that the client understands what it means to her personally, not just textbook definitions that apply to anybody. 3. Imagine a goal that naturally comes from your assessment of her financial situation. Remember, she wants you to help her improve her financial situation. Based on your analysis of net worth and cash flow, what would be an improvement to her financial situation? Imagine discussions 2 of 8 Financial Planning Assignment with the client that lead to her goal to improve her financial situation. Explain how this goal would improve her financial situation and why you suggest it as top priority. Imagine discussions with the client to fully define the goal according to her motivation and preferences. (all 10 points as presented in Module 5 Goal Setting). Use the ParticipACTION process to show five questions starting with surface, shallow description of goal and leading to deeper personal meaning. Remember, you are imagining a discussion with this client, and the result must reflect a deep, individual, personal, emotionat motive for the goal that reflects her personal preferences and motivation. Use Time Value of Money (TVM) to calculate the monthly amount needed to achieve her goal. Show your TVM calculation in an appendix (end of document, not within the letter). 4. Identify 2 or more discretionary costs that could be reduced, if the client agrees, in order to make funds available to achieve the goal. In choosing, you must consider her personal priorities. Explain current frequency/spending habit and give a specific, detailed explanation of how she could change her habit to reduce the necessary amount. Make sure your suggestion is mathematically correct, and is detailed so that she knows exactly what to do. (es. don't say "reduce expense item x by 30%". This is not detailed. For example, state the current habit frequency and cost per time. Are you going to suggest a reduced frequency? Or a lower cost alternative? Review strategies in Module 3, Cash flow) 5. Create a revised cash flow statement: Read the following carefully. Your revised cash flow statement will show BOTH current cash flow and additional columns to show the revised amounts that include the new goals and your suggestions for cost reductions. Re-create the existing cash flow statement in Excel with one additional column to show revised monthly amount. If she will increase a debt payment show new amount in revised column. If there is a savings goal, add in a line to show savings for name of goal and put the amount in the revised column (previously zero). Show all changes to monthly amounts for all affected expenses. Make sure your Excel cash flow statement has a professional appearance as described in Module 3 Cash Flow. The Excel spreadsheet must be working with Excel functions. For example, formulas for totals must be set up so that the document updates automatically if you change a number in any of the columns 6. Write a summary letter to the client explaining her current financial situation analysis of net worth and cash flow), full description of the goal they have defined with you, and the suggested strategy for expense reductions to achieve the goal. Make sure you write in a collaborative way, which shows that you and the client have been involved in discussions together and the work reflects the client priorities, not just your recommendations. Your letter is a full summary of the final decisions the two of you made together. You will be graded on your professional and friendly tone, and ease of reading. Use the Readability Statistics in Word to achieve the target of >60% readability score, and grade level 6-9. The letter should be between 1 and 2 pages in length. It would be difficult to achieve everything in one page. Longer than two pages should be edited for clarity and to be briefer. C: What to submit: 1. Submit a Word document for the letter. Calculations from your analysis and goal calculation should be included in an appendix at the end of your Word document, not in the letter. 3 of 8 Financial Planning Assignment 2. Submit a revised cash flow in Excel showing all columns for existing cash flow and additional monthly column showing changes. D: Video questions - see Assignment Video questions in FOL/Content/Assignment/Assignment Video Questions You will answer three video questions. Click on the question. You have 30 seconds to think about your answer. Then you have 1 minute to answer the question. You must have a working webcam and microphone The questions will be about the case and your assignment. The following is a list of potential topics. 1. Assessment of current financial situation a. Question about net worth assessment liquidity ratio and meaning b. Question about net worth assessment current ratio and meaning c. Question about net worth assessment debt/asset ratio and meaning d. If nothing changes, what do you expect will happen to the client net worth in the coming years? Explain your answer. e. Question about cash flow assessment - discretionary expenses vs. necessity expenses t. Question about cash flow assessment - which lifestyle areas appear to be a priority for this client? & Explain the biggest risk she currently faces for her financial security 2. Question about goal a. Explain the deep, personal, emotional client motive for the specific goal (as imagined by you as you imagine interactions with the client). b. Explain the deep, personal, emotional client motive for the measure of the goal. c. Explain the deep, personal, emotional client reason for the time frame of the goal d. Explain why you believe the goal is realistic. (prove it) e. Explain how will achieving the goal improve the financial situation. How can this be measured? 3. Question about revised cash flow a. Question about why you picked the expense items you picked for reduction and why you didn't pick other expense items. b. Which cash management strategy did you pick to reduce an expense item, and why did you pick that strategy for that item? Net worth statement and cash flow statement below. 4 of 8 Financial Planning Assignment Elinor Jamieson Net Worth Statement January 1, 2022 Value Total Assets Liquid assets Bank account Separate account for emergency fund Total liquid assets 2,200 150 2,350 Household assets Computer Furniture & household items (15% of cost assumed) Total household assets 1,000 2,250 3.250 Total assets $5,600 Liabilities Current liabilities Credit card (19% interest) Total current liabilities 5,500 5.500 25,000 Long term liabilities Student loan (3% interest) Total long term liabilities Total Liabilities 25,000 $30,500 Net Worth -$24,900 Cash flow statement below 5 of 8 Financial Planning Assignment Elinor Jamieson Cash Flow Statement January 1, 2022 Monthly Average Annual Amount % of total Description Income Net income insert rows for sources) Total income 3,173.42 3,173.42 38,081.00 38,081.00 100% 50.00 50.00 600.00 600.00 200.00 293.00 493.00 2.400.00 3,516.00 5,916.00 16% Savings Emergency fund Total savings Debt repayment Credit card repayment of outstanding balance Student loan Total Debt Repayment Housing Rent Tenant insurance Furnishings and appliances Household supplies. cleaning garbage bags etc. Household supplies - repair materials - glue, sewing Household supplies - paper, ink, tape, string etc. Household supplies - kitchen, bed, bath Total housing 1,100.00 25.00 25.00 5.00 5.00 5.00 20.00 1,185.00 13,200.00 300.00 300.00 60.00 60.00 60.00 240.00 14,220.00 37% Communications Telephone/cell phone Internet Entertainment subscriptions - Netflix and music Total Communications 70.00 50.00 30.00 150.00 840.00 600.00 360.00 1,800.00 5% Food Groceries Dining out Take-out Lunches out Total food 220.00 65.00 87.00 40.00 412.00 2.640.00 780.00 1,044.00 480.00 4,944.00 13% 6 of 8 Financial Planning Assignment Monthly Average Annual Amount % of total Description Transportation Driver's licence renewal Public transportation weekday only pass Ride services Gas money to friends Total transportation Education Tuition Total education 1.50 81.00 80.00 10.00 172.50 18.00 972.00 960.00 120.00 2,070.00 5% 41.67 41.67 500.00 500.00 1% Recreation, hobbies, entertainment, habits Travel and vacation Bars and parties Hobbies Total recreation, hobbies, entertainment, habits 83.33 60.00 20.83 164 17 1,000.00 720.00 250.00 1,970.00 5% 20.00 20.00 15.00 55.00 240.00 240.00 180.00 660.00 2% Personal Care Hairdresser/barber Cosmetics and skin care Daily supplies (soap, shampoo, toothpaste etc.) Total personal care Clothing Work clothes Casual clothes Seasonal outerwear-rain, snow etc. Exercise clothes Dressy occasion clothes Shoes - exercise, casual, work, dressy, outdoor winter Laundry supplies Dry cleaning Alterations and repairs Total clothing 75.00 20.83 20.00 6.67 12.50 25.00 4.17 8.33 16.67 189.17 900.00 250.00 240.00 80.00 150.00 300.00 50.00 100.00 200.00 2,270.00 6% Medical Medical and dental insurance plan Over the counter medications Total medical 94.00 6.25 100.25 1,128.00 75.00 1,203.00 3% 7 of 8 Financial Planning Assignment Monthly Averare Annual Amount % of total 33.33 20.83 15.00 5.83 75.00 400.00 250.00 180.00 70.00 900.00 2% Description Pets Cat food Cat supplies - cat litter, toys, beds, accessories, leashes, Pet insurance Boarding Total pets Gifts and Donations Charitable donations Gifts to family Gifts through work (group gifts for colleagues) Special occasion gifts weddings, births, memorial Greeting cards supplies to make her own Total gifts and donations TOTAL EXPENSES Shortfall/surplus amount 25.00 20.83 8.33 12.50 20.83 87.50 300.00 250.00 100.00 150.00 250.00 1,050.00 3% 3.175.25 38, 103.00 100% -$1.83 -$22.00 0% 8 of 8