Case Study: Carol Jones
Case Study: Carol Jones essay assignment
Case Study: Carol Jones essay assignment
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.
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| 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 of legal 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.