Personal budget financial planning tool for making decisions

Assignment Help Financial Management

Reference no: EM131065779

Analyze your personal budget as a financial planning tool for making decisions in the following situations. In each case, how will they affect your budget (consider each individually)? a. A neighbor and coworker suggest that he and you commute to work together. b. The roofers inform you that your chimney needs be to repointed and relined as well as your new roof, and the cost will be an additional $4,000 - billed monthly. c. You have a part-time job where you make a consistent $700 a month and are considering giving that up and putting more time into your hobby which has an upfront cost of $5,000 to get off the ground as a business, but, assuming it goes well, could earn you $1,000 month. d. Your car is just about on its "last wheels", you can buy a used car for $250 a month for 3 years, but it is not that great on gas mileage (18 mpg) and you drive 20,000 miles a year. Or you can buy a new car which has payments of $375 a month for 5 years, but it gets great gas mileage (34 mpg). Decide what you would do and explain the impact to your budget.

Reference no: EM131065779

Questions Cloud

Auditor decides to only perform substantive tests of details : Assume that the auditor decides to only perform substantive tests of details when auditing the equipment account. Which of the following statements best describes the circumstances associated with the client being audited?

Compute its promised yield to maturity : Assume that you purchased an 8 percent, 20-year, $1,000 par, semiannual payment bond priced at $1,012.50 when it has 12 years remaining until maturity. Compute: Its promised yield to maturity. Its yield to call if the bond is callable in three years ..

Is there an existing free trade agreement : Is there an existing free trade agreement?

Important part of a successful hiring program : A hiring program will be successful if it includes interviews. The interview is a more important part of a successful hiring program than is the development of a job description.

Personal budget financial planning tool for making decisions : Analyze your personal budget as a financial planning tool for making decisions in the following situations. In each case, how will they affect your budget (consider each individually)? A neighbor and coworker suggest that he and you commute to work t..

What are the earnings per share for the firm common stock : A company has 1,000 shareholders who own a total of one million shares of its common stock currently selling at $7 per share. The company earned $11,000,000 after taxes. The annual dividend is $.80 per share. The firm has assets of $137,000,000 and l..

Food ordering system in a restaurant : Draw the DFDs (Context and level 0) for a Food Ordering System in a restaurant. The Food Ordering System works as follows: Customer places their orders.

Risk is unchanged by the expansion : JRN enterprises just announced that it plans to cut its dividend from $2.25 to $1.30 per share and use the extra funds to expand its operations. Prior to this announcement, JRN's dividends were expected to grow at 5% per year and JRN's stock was trad..

What is code-warrior simulation result after moving the data : What is the Code-Warrior simulation result (showing register and memory contents from address $2000 to $202F) after moving the data?

User Account

All Pages