To earn full credit, your posts and responses should be timely, substantive, insightful, and supported by reference to an online article or assigned readings. Please cite your sources and use MLA formatting. For your 2nd and 3rd postings, your critiques should add insight and show your knowledge of the assigned readings. Review the discussion grading rubric posted in the Content area if you have questions.

Life Situation

Financial Data

Single Age 22 Starting a career No dependents Monthly income $2,600 Living expenses $2,180 Assets $8,200 Liabilities $3,470 Emergency fund $530

While in college, Pam Jenkins worked part-time and was never concerned about long-term financial planning. Rather than creating a budget, she used her checkbook and savings account (which usually had a very low balance) to handle her financial needs.

After completing college, Pam began her career as a sales representative for a clothing manufacturer located in California.

After one year, her assets consist of a 2002 automobile, a television set, some electronic entertainment equipment, and clothing and other personal belongs, with a total value of about $8,200.

Questions

1. Q1. List various personal financial decisions that Pam might be thinking about at this point in her life.