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Calculate the values and comment on savings rate

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Reference no: EM133020251

Question - Lisa is trying to get her personal finances in order. She does not know how to organize the following information.

Mortgage Payment 1,175

House 210,000

Credit Card Balance 9,300

After-tax Income 3,000

Groceries Expense 240

Car 15,000

Clothing 450

Car Loan Payment 360

Furniture 10,000

Car Loan 10,000

Car Maintenance 150

Utilities Expense 100

Cash in bank 500

Mortgage 181,000

Recreation Expense 400

Lisa has come to you for help.

Required -

(a) Organize the above financial information into a properly formatted (i) Personal Cash Flow Statement and (ii) Personal Balance Sheet.

(b) Calculate the values and comment on each of them: (i) savings rate, (ii) liquidity ratio, (iii) debt-to-asset ratio.

(c) Make at least 4 recommendations to help Lisa her improve her money management?

Reference no: EM133020251

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