Jamie Lee Jackson, age 24, now a busy full-time college student and part-time bakery clerk, has been trying to organize all of her priorities, including her budget. She has been wondering if she is allocating enough of her income towards savings, which includes accumulating enough money towards the $10,500 down payment she needs to begin her dream of opening a cupcake caf.

Jamie Lee has been making regular deposits to both her regular, as well as her emergency savings account. She would really like to sit down and get a clearer picture of how much she is spending on various expenses, including rent, utilities, entertainment and how her debt compares to her savings and assets. She realizes that she must stay on track and keep a detailed budget if she is to realize her dream of being self-employed after college graduation.

Use the details below to complete Jamie Lee's personal financial plan to determine her financial position. Each answer must have a value for the assignment to be complete. Enter "0" for any unused categories.

Current Financial Situation

Assets:			Monthly Expenses:
Checking account	$1,400		Rent obligation	$290
Emergency fund savings account	$3,400		Utilities/electricity	$95
Car	$4,300		Utilities/water	$60
Computer & iPad	$650		Utilities/cable TV	$75
Liabilities:			Food	$150
Student loan	$5,700		Gas/maintenance	$115
Credit card balance	$550		Credit card payment	$65
Income:			Car insurance	$65
Gross monthly salary	$2,275		Clothing	$65
Net monthly salary	$1,745		Entertainment:
Savings allocation:			Cake decorating class	$45
Regular savings	$165		Movies with friends	$65
Rainy day savings	$40