Sample Response M2 A1 Budgets with Critical Thinking and Aloha assessment Chelcie

Topics: Critical thinking, Money, Financial adviser Pages: 4 (1319 words) Published: April 19, 2015
Chelcie Maree Augustin Weaver
2/26/2013 6:17:23 PM

Chelcie-Maree Augustin-Weaver
ASP-100-Skills for Success
Argosy University, Hawaii
Professor Ken Rasti

Aloha Class,

I hope all of you are well and you all had a wonderful safe week. Please read my assignment and provide me with helpful feedback. I really appreciate your time and consideration.

How can Jenny Utilize her Income for the month?
As Jenny’s Financial Advisor or Older Sister, I would advise her to utilize her income for the month by only spending on things she needs to spend on instead of spending on things that she wants. She should only spend on her Rent, Utilities, Food for herself, Transportation, her cell phone bill, and absolute emergencies. A portion of her money can be put into her savings account as well as investment and retirement. What categories and in what amounts should Jenny allocate her funds to reflect a balanced monthly budget? Include the main categories as well as examples of other categories? -Jenny makes 2,000 dollars a month, I will assume that majority of her bills will be paid through Automatic Withdrawal, the other bills that aren’t automatic, she can still go in person and make payments. Her monthly bills as follows; $20.16 for Electricity, $6.12+- for Water, $20.00 Basic Cable and Internet, $30.00 for basic Talk and Text plan, $500.00 Rent, $150.00 Groceries, $150.00 six month Bus Pass, and $1000.00 goes in her Automatic Savings Deposit. Every month she will have at least $123.72 left for her Debit Card that she may use for emergency purposes only. Critical Thinking Assessment & Terminology- Model 1

~~ I see the facts in this situation as I have calculated the water and electric bill according to the guidelines and payment amounts issued by the state of Hawaiian Electric Company (HECO) and the Board of Water Supply. In addition to these facts, I have also used proper formulas to calculate the proper amounts of her bill payments (ex. Amps x 120 =...
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