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 $10,000 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	$1,350	Rent obligation	$285
Emergency fund savings account	$3,300	Utilities/electricity	$90
Car	$4,200	Utilities/water	$55
Computer & iPad	$600	Utilities/cable TV	$70
Liabilities:		Food	$140
Student loan	$5,600	Gas/maintenance	$110
Credit card balance	$500	Credit card payment	$60
Income:		Car insurance	$60
Gross monthly salary	$2,225	Clothing	$60
Net monthly salary	$1,700	Entertainment:
Savings allocation:		Cake decorating class	$40
Regular savings	$160	Movies with friends	$60
Rainy day savings	$35

Assets
Liquid assets
Checking account balance
Savings/money market accounts, funds
Cash value of life insurance
Other
Total liquid assets
Household assets and possessions
Current market value of home
Market value of automobiles
Furniture
Computer, electronics, camera
Jewelry
Other
Other
Total household assets
Investment assets
Savings certificates
Stocks and bonds
Retirement accounts
Mutual funds
Other
Total investment assets
Total assets
Liabilities
Current liabilities
Charge account and credit card balances
Other
Total current liabilities		$0
Long-term liabilities
Mortgage
Loan balances
Other
Total long-term liabilities
Total liabilities
Net Worth
(Assets minus liabilities)