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 InterneVCable $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. Activate Windows – Using the information provided for Carol create a balance sheet and cash flow statEthefit.SEgtiniate Card’s avetall% net worth.
