Talk to two or three people regarding wise and poor money management actions they have taken in their lives. Also, ask about the system they use to keep track of their financial documents and records. Based on this information, develop a recordkeeping system for your financial documents as shown in Exhibit 21. (LO2.1)

(a) Prepare a balance sheet and a cash flow statement on a regular basis to monitor your financial situation and progress (see the Personal Financial Statements section). (b) Use online research to obtain information about the assets commonly held by households in the United States. How have the values of assets, liabilities, and net worth of U.S. consumers changed in recent years? (LO2.2)

Conduct research to identify various budgeting and money management apps. Determine the features, ease of operation, and information provided by these apps. Which app would you consider using for your budgeting and money management activities? (LO2.3)

Create a visual representation for the steps of the budgeting process using photos or a video format. (LO2.3)