Life Event Situation $3$: Unexpected Money Nina Resendiz, age $23,$ recently received an $$8,000$ gift from her aunt. She is considering various uses for these unexpected funds, including paying off credit card bills from her last vacation or setting aside money for a down payment on a house. Or she might invest the money in a tax$-$deferred retirement account. Another possibility is using the money for technology. certification courses to enhance her earning power. Nina also wants to contribute some of the funds to a homeless shelter and a global organization that helps start small businesses in low$-$income areas. She is overwhelmed by the choices and comments to herself, "I want to avoid the temptation of wasting the money on impulse items. I want to make sure I use the money on things with lasting value."

Questions

In each situation, what are the main financial planning issues that need to be addressed?

What additional information would you like to have before recommending actions in each situation?

Based on the information provided and your analysis of the situations, recommend actions related to: $($a$)$ S$-$M$-$A$-$R$-$T goals, $($b$)$ spending, and $($c$)$ saving, for the Blakes, Patrick, and Nina.