Question
Managing Credit Life Situation Single Age 24 No dependents Graduate and engaged Financial Data Monthly Income $1,750 Living Expenses $1,210 Personal property $7,300 Savings $5,000
Managing Credit
Life Situation
Single
Age 24
No dependents
Graduate and engaged Financial Data Monthly Income $1,750 Living Expenses $1,210 Personal property $7,300 Savings $5,000 Student loan $4,200 Credit card debt $4,600 Shelby and Mark are making plans to get married, open her pet salon, and possibly buy a condo, but they realize that they must manage their credit situation better. They have made a budget so that they can reduce their individual credit card balances. However, they are looking for other ways to help them achieve their goals more quickly.
Questions
1.Given their current situation, list some suggestions on how Shelby and Mark can reduce the cost of using credit. What are some alternative sources of credit they might consider?
2.What is the best way for Shelby and Mark to compare the cost of credit from different sources?
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Foundations of Finance The Logic and Practice of Financial Management
Authors: Arthur J. Keown, John D. Martin, J. William Petty
8th edition
132994879, 978-0132994873
