Personal Cash Flows: Case Study

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Personal Finances: Personal Yearly Budget, Personal Balance Sheet, Personal Statement of Cash Flows Client Deborah Marks is a single, Caucasian female, aged thirty-two, with no spouse and has never been married. She has two children, both boys, ages eight and two. She is currently enrolled in her Master's of Science Accountancy program with an online institution, and holds an Associate of the Arts Accounting and a Bachelors of Science Business with a concentration in Accounting. Deborah Marks works third shift to eliminate the need for child care since her mother watches her children free of charge while she works. She makes $10.00 an hour and works part-time, twenty-one hours a week. She receives an additional $475.000 per week in other income. She currently has student loans in the amount of $79,000.00 and they will come due in September 2013. She owns one vehicle, a used van with a value of $2000.00. Deborah Marks' two major concerns with her personal finances are her ability to support her two children on her own and her ability to make payments on her student loans when they come due in September 2013. Her two major goals are obtaining better paying employment position and purchasing her own home in the next ten years.…show more content…
The balance sheet displays that Deborah Marks has a significant negative net worth due to past due credit cards and a large amount of student loans. The cash flow statement displays that the most that Deborah Marks could eliminate from her monthly outgoing expenses is $100.00 by eliminating a telephone, toys for her children, and dining out once a month. With those eliminated, the excess funds at the end of the month would increase from $55.00 to $155.00 which could assist with paying off student loans or credit card

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