Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Julee's Monthly Financial Profile Monthly Pay (before taxes) 2,000.00 Monthly Expenses: Monthly rent Monthly auto loan payment Monthly credit card payments @ 4% Other monthly

image text in transcribed

Julee's Monthly Financial Profile Monthly Pay (before taxes) 2,000.00 Monthly Expenses: Monthly rent Monthly auto loan payment Monthly credit card payments @ 4% Other monthly loan payments (hospital debt) Monthly living expenses Monthly savings Total expenses 725.00 178.00 150.00 125.00 450.00 100.00 1,728.00 272.00 Leftover Money (Discretionary Income") Emergency Savings Fund Julee's Credit Card Balances 1,200.00 3,750.00 Assess Julee's Finances 1. What percentage of her income does Julee pay in rent? 715/2,000 - 36,25% 2. What percentage of her income does Julee need to satisfy her credit card payments, car loans and hospital debt? 32.65 150 *178 + 125/2000 - 22.65% 3. Does Julee have enough money in her emergency savings fund? Why?_NO hae 3-6% GT 4-6 thoustand Must 4. How do you assess Julee's overall financial picture? SUSSIA 5. What advice would you give Julee about her finances? total debt - 58.9%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions