Tamela is a 32-year-old single woman and mother of three-year-old Lj. Tamela works full-time as an Executive Assistant in the corporate office of a large retailer and makes $2,640 a month after NIB and health insurance deductions. She gets paid on the 14th and 28th of each month. She started as a part-time sales associate whilst attending College of the Bahamas, and transitioned to full-time once she completed her Associates. After having worked in sales for a little over five years, she transitioned into the corporate office as an administrative assistant, where shes worked for the past six years. Tamela and her sons dad, Liam Sr., parted ways late September, however they are dedicated to maintaining a good co-parenting relationship. When Tamela met Liam Sr., she was living at home with her parents, where she was not required to financially contribute to the household. A year into their relationship, she moved in with her recently divorced big sister who was finishing up nursing school and transitioning from a career in law enforcement. Tamelas sister graciously paid all the household expenses in exchange for Tamelas help with her 10-year-old twin boys. Two years later, Tamela became pregnant, and she and Liam Sr. moved in together shortly thereafter. They got engaged on Tamelas 32nd birthday this past May, after having been together for about five years. The wedding was set for the following spring. Tamela, Lj and Liam Sr. once shared a spacious 3-bedroom rental condo. Liam Sr. paid the rent, utilities, and Ljs expenses, whilst Tamela was responsible for grocery and her personal bills. Tamela never really practiced budgeting, mainly because shes never had to pay any major bills such as rent or mortgage, and her salary always seemed enough to fund her lifestyle. Tamela had recently purchased a new car on credit; this auto loan was the only fixed expense that she had. Yet, she somehow always managed to fall short when it came to one-off personal expenses such as her car insurance. Liam Sr. would give her a good lecture, but hed always come through, and she knew this. The couple had discussed purchasing a home before Lj entered the first grade, however, they could not seem to agree when it came to their finances. Tamela felt as though Liam Sr. was becoming too controlling, and Liam Sr. felt as though Tamela was irresponsible with her money, and inconsiderate of his financial responsibilities. The couple constantly argued about money, particularly after the engagement; Liam Sr. wanted a modest wedding so that they could still save aggressively towards a home, whereas Tamela wanted a large lavish wedding and did not see a home as a priority. Liam Sr. eventually called off the engagement. After the break-up, Liam Sr. decided to move in with his brother who had recently purchased a 3-bedroom bachelor pad, as to allow Tamela and TJ to live out the remaining 3 months of the condo lease. He continued to pay the rent and utilities along with Ljs expenses until Tamela found a new more affordable place. They agreed that Tamela would keep most of the furniture, and Liam Sr. would cover first and last months rent, security deposit and utility deposits, to make Tamela and Tjs move as smooth as possible. Tamela found a bargain-priced 2-bedroom, 1-bathroom apartment just 5 minutes away from her older sisters home. Although the lease on the condo would not be up for another month, Tamela did not want to lose this place, so she signed her new lease at the end of November and took the first few weeks of December to move everything and make her and Tjs new place feel like home. Currently, Lj spends the first and third weekend with his father, and Liam Sr. transfers $500 to Tamela on the first of every month to cover Ljs expenses. He also purchases all of Ljs snacks and non-perishable school lunch items on a monthly basis; these do not fall within Tamelas regular grocery budget. He has also agreed to cover any out-of-pocket health-related expenses not covered by Tamelas health insurance. Both would split Tjs back-to-school expenses. Ever since branching out on her own, Tamela has been struggling to gain control of her finances. Shes had a credit card for a few years now, however shes found herself swiping more often since Liam Sr. moved out; it has a credit limit of $5,000. The monthly minimum payment is dependent on the balance; her current monthly minimum payment is $130. She recently applied for a limit increase, but it was denied. Tamela very recently began dating again, but she cant help but feel overwhelmed and defeated regarding the state of her finances. She does not want to ask her parents or her sister for help, and she most definitely doesnt want to involve the man shes currently dating in her financial affairs. She thinks its time that she stands on her own two feet, she just has no idea on where to begin.

What steps do you believe Tamela and Liam Sr. could have done differently in their relationship as it relates to finances, that may have prevented their split?

What one thing can Tamela do to transform her financial behaviors?

What tips would you give Tamela with regards to budgeting?

What opportunities exist for Tamela to increase her income?

Tamela had gotten used to Liam Sr bailing her out when major bills or unexpected expenses were due. Now it seems as though she's struggling. What are TWO things that you recommend Tamela do to ensure that she covers these sorts of expenditures confidently in future?

Create a list of Tamela fixed and variable expenses. Provide a summary of her expenses and give suggestions of what practical changes she could make in order to gain more financial confidence?

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