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. Additional financial data for Pam's situation is provided in the table.

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

Q3. What are some specific short-term, intermediate, and long-term financial goals that Pam might want to develop? Have you considered any of these goals as part of your own personal financial plan?