Description
Case Study: Carol Jones
Carol works as a business representative for an import/export company. Her job provides her with the opportunity to travel and experience new things. Because she travels so much, Carol feels that she does not have a handle on her finances. She has decided to pay a visit to a financial advisor for help.
| Carol's Salary | $2,000 | Auto Payment | $262 | |||
| Home | $100,000 | Mastercard | $5,000 | Int 15% | ||
| Gas/Heating | $100 | Visa Card | $3,000 | Int 15% | ||
| Electric | $125 | Bloomingdale Card | $1,500 | Int 29% | ||
| Water | $60 | Personal Loan | $5,000 | Int 5%, 60 mths | ||
| Internet/Cable | $150 | Mortgage | $95,000 | |||
| Phone | $50 | Mortgage Payment | $796 | |||
| Cell Phone | $200 | Car | $20,000 | |||
| Food | $250 | Gym Membership | $20 | |||
| Mortgage Payment | $796 | Personal Loan Payment | $94 | |||
| Car Insurance | $165 | Carol's 401K | $50,000 | |||
| Savings | $500 | Auto Loan | $15,000 | |||
| Checking | $1,000 | Visa Payment | $60 | |||
| Lawn Service | $100 | Bloomingdale Payment | $30 | |||
| Mastercard | $100 | |||||
Write a 700- to 1,050-word paper that addresses the following items from the case study:
- Apply financial planning concepts to advise Carol and explain how Carol can benefit from financial planning. Describe the benefits of using financial statements in financial planning.
- Utilize and explain strategies that Carol can use to increase her net worth. How does this affect her cash flow?
- Describe the sources available for asset management.
- Compile a list oflegal protections that can be used to protect Carol’s assets.
- Using the information provided for Carol create a balance sheet and cash flow statement. Estimate Carol’s overall net worth.
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Explanation & Answer
Hi, here is the assignment ;)
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Financial Planning Case Study: Carol Jones
Name
Affiliation
2018
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The dimensions of financial planning could be short term or long term financial planning
(Dalton & Dalton, 2001). The short-term planning is for less than a year and long-term financial
planning is for more than a year. The other aspects that can be considered are making the
financial plan as per different scenarios like best case predictions, normal case prediction and
worst case prediction then taking a balanced view. The activity Statement uses any information
on the balance sheet to report regarding Profit and loss across all transactions, positions,
underlying instrument, and asset class. It carries figures from the balance sheet to details of the
change in position value for the statement period. So, it would not be wrong t...
