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 $7,500 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 "O" for any unused categories.

can you please explain which savings go where? and why? I am also confused on which goes into which category and why? please explain. thank you.

Current Financial Situation Assets: Checking account Emergency fund savings account Car Computer \& ipad iabilities: Student loan credit card balance Income: Gross monthly salary Net monthly salary Savings allocation: Regular savings Rainy day savings Monthly Expenses: $1,850 Rent obligation $4,300 Utilities/electricity $5,200 Utilities/water $1,100 utilities/cable TV Food $6,600 Gas/maintenance $1,000 Credit card payment Car insurance $2,155 clothing $1,580 Entertainment: Cake decorating class $130 Movies with friends $20 $225 $75 $35 $120 $115 $95 $45 $45 $45 $90 $50 \begin{tabular}{l|l|l|} \hline Assets \\ \hline Liquid assets \\ \hline Checking account balance \\ Savings/money market accounts, funds \\ Cash value of life insurance \\ Other \end{tabular} \begin{tabular}{l} Savings cerumcares \\ Stocks and bonds \\ Retirement accounts \\ Mutual funds \\ Other \\ \hline \multicolumn{1}{c|}{ Total investment assets } \\ Total assets \end{tabular}