Hannah is 35 years old and has a career as a marketing consultant. She has worked for her employer for 10 years and she makes $55,000 a year. She has a house in Kokomo, IN worth $150,000 that she makes monthly mortgage payments on at $650 a month. Her utilities are approximately $300 monthly. She has $3,000 in her emergency fund currently and contributes an additional $50 per month. She currently has $15,000 in her 401K and contributes and contributes an additional $150 per month. She has a goal of taking one vacation per year so she currently has $700 in her vacation fund and saves an additional $50 per months. She recently took out a loan for a new car for $26,000, which she pays back monthly with payments of $415. She also has $45,00 of students loans that she is working on paying off with $625 monthly payments.

Step 2: Download Learning Activity 7.xlsx

Step 3: Prepare a "hypothetical" balance sheet and budget for Hannah. Please think about what expenses she should logically have (i.e. food, gas, etc) and add these items as necessary with rough estimates. You will find the templates for each statement through the sheet tabs within the excel file. Be sure to use cell references and formulas. In addition, you may need to add/delete rows and rearrange the order of items listed.