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ABC/123 Version X

Case Study: Carol Jones

FIN/420 Version 6

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Case Study: Carol Jones

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
Internet/Cable	$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.

· Using the information provided for Carol create a balance sheet and cash flow statement. Estimate Carol’s overall net worth.

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