Personal Financial Management

1.When TDSR exceeds the maximum allowable limit, what are four options that you could consider based on your spending above?

(8 marks)

2.Your professor (who currently drives a practical, family-friendly Mazda) is going through a mid-life crisis and announces to the class that she is going to buy a 2019 Ferrari 488 Spider with a sticker price of over $300,000 and that will be the answer to all of life's problems.

Explain three concerns you have about this purchase from a wealth management perspective

(3 marks)