Calculate the values of savings rate

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Reference no: EM132538054

Lisa is trying to get her personal finances in order. She does not know how to organize the following information.

Mortgage Payment                     1,175

House                                  210,000

Credit Card Balance                   9,300

After-tax Income                     3,000

Groceries Expense                    240

Car                                    15,000

Clothing                             450

Car Loan Payment                 360

Furniture                           10,000

Car Loan                          10,000

Car Maintenance                   150

Utilities Expense               100

Cash in bank                      500

Mortgage                       181,000

Recreation Expense             400

Lisa has come to you for help.

Question 1: Organize the above financial information into a properly formatted (i) Personal Cash Flow Statement and (ii) Personal Balance Sheet.

Question 2: Calculate the values and comment on each of them: (i) savings rate, (ii) liquidity ratio, (iii) debt-to-asset ratio.

Question 3: Make at least 4 recommendations to help Lisa her improve her money management?

Reference no: EM132538054

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