Question
Old MathJax webview Who Wants To Be A Millionaire? Learning objectives: show the effect of life situation on financial goals. The Green Family The Greens
Old MathJax webview
Who Wants To Be A Millionaire? Learning objectives: show the effect of life situation on financial goals. The Green Family The Greens are comprised of married parents, Carl and Barb, and three children: Ace, Bill, and Charlotte. Carl is 35 years-old; Barb is 32; the children are 10, 4, and 2, respectively. Carl has one previous marriage, to which he must pay alimony. Carl is employed as a shift manager for a local paper company ($40,000 per year + commission), and Barb is a public school teacher ($32,000). While Ace is old enough to attend elementary school, the Greens send Bill and Charlotte to a local daycare. The family owns one vehicle, but recently bought a van that requires a monthly payment of $300. They also have two credit cards with a balance of $2000 each and a mortgage payment of $1000. All regular utilities and grocery bills are also parts of The Green Familys financial make-up. Using the family demographics and financial information above, consider and answer the following questions: 4. List and describe two legal documents you think this family should have. _____________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 5. Outside of daycare, what are some costs associated with having children The Greens should list in their budget? _____________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 6. What types of insurance should a family this size have, in order to be reasonably secure? _____________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 7. The Greens have no savings account. If you were their bank manager, what would you tell them is important about having savings and what advice and incentives would you offer them to get started? _____________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
4. List and describe two legal documents you think this family should have. 5. Outside of daycare, what are some costs associated with having children The Greens should list in their budget? 6. What types of insurance should a family this size have, in order to be reasonably secure? 7. The Greens have no savings account. If you were their bank manager, what would you tell them is important about having savings and what advice and incentives would you offer them to get startedStep by Step Solution
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