Solution-Advise anna on her cash position

Advise anna on her cash position

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Reference no: EM133167191

Question - Anna Daly is a 26-year old part-time student at Deakin University pursuing a Bachelor of Business. She also works in an Apple Store as a retail-assistant on a part-time basis. Her short-term goal is to go on a glamping trip to Alice Springs with her girl-friends in Nov 2022. This holiday will cost her around $1,200. Her long-term goal is also to purchase a car. Her goal is to save $5,000 to use as a down payment for a car she intends to purchase in the next 2 years.

Income and Expenses	Cost	Income and Expenses	Cost
Take home pay after tax	$500 per week	Groceries supermarket	$100 per week
Rent	$250 per week	Clothing	$50 per week
Electricity bills	$70 per quarter	Gym membership	$20 per week
Streaming services	$30 per month	Gifts and celebrations	$60 Per month
Internet	$70 per month	Transport card	$50 per week
Mobile	$70 per month	Movies	$50 per month

Required -

1. Use the set of information provided and advise Anna on her cash position based on the figures provided above (HINT: Please convert all the figures in the table provided to monthly or weekly to arrive at your answer).

2. Advise Anna on how to manage her budget to ensure there is enough of savings to meet any emergency needs in the future. Please provide her with two suggestions on simple ways to reduce spending and increase income. The strategies suggested has to link with her budget.

Reference no: EM133167191

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Advise anna on her cash position

Reference no: EM133167191

Reference no: EM133167191

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