What do you think of tyler decision

Assignment Help Accounting Basics
Reference no: EM133180619

Question - Tyler, 28, has a good job as a sales representative. He's always found budgeting boring and has been intending to start a financial plan for years.

Recently, Tyler went fishing with some friends on a rented boat and had a great time. He sopped at a boat sale on his way home. Before he knew it, a salesman had convinced Tyler that the sale was just too good to pass up. So, Tyler bought a $10,000 boat and financed 80% of the cost for the next 5 years. He now finds himself relying on his credit card to get by each month.

What if Tyler had kept track of his money, used a budget, and had a set of financial goals? Knowing where his money went and having a financial plan would have increased the chance that Tyler would have made a more deliberate, informed financial decision.

The above scenario is from "Impact of Personal Choices" in our textbook. What do you think of Tyler's decision? How could he have made a more informed decision? What does your textbook suggest that Tyler do now? Find another source that can help Tyler. Cite your source, this should be more than your opinion.

Reference no: EM133180619

Questions Cloud

What is the useful life of the asset : The asset was purchased on July 1, 2022 and the depreciation expense for 2022 is $25,000. What is the useful life of the asset
Understanding human service leadership in context : Human service leaders may be involved in roles or programs that cross multiple sectors and programs.
Dynamics of human service program management : Individuals who enter into a human service area of practice often start from an altruistic perspective and a desire to help a particular population.
Total rewards is organizational system of rewards : Total rewards is an organizational system of rewards that is inclusive of compensation, benefits, and any tangible or intangible items employees value
What do you think of tyler decision : What do you think of Tyler's decision? How could he have made a more informed decision? What does your textbook suggest that Tyler do now
Different personality styles to better communicate and lead : How will you use the understanding of different personality styles to better communicate and lead? Summarize the feedback you receive.
Determine amount of loss on disposal of wheelbarrow : Determine the amount of the "loss on disposal of wheelbarrow subsidiary, net of applicable income tax benefit" which should be presented in ABC income statement
Record the consolidation elimination entries for intragroup : Dipendra Ltd sold inventory to Kiran Ltd $24,900. The tax rate is 30%. Record the consolidation elimination entries for the intragroup sale of inventory
Examining a current national or international conflict : Is very important for people to know and understand the events that are happening locally, nationally, and globally. Examining a current national or internation

Reviews

Write a Review

Accounting Basics Questions & Answers

  Ron barber cpa is auditing the financial statements of dgf

ron barber cpa is auditing the financial statements of dgf inc. a publicly held company. during the course of the audit

  Prepare a post-closing trial balance for western company

Closing Trial Balance Selected accounts from general ledger of Western Candle Company as of December 31, 2007, Prepare post-closing trial balance

  El tapitio purchased restaurant furniture on september 1

el tapitio purchased restaurant furniture on september 1 2012 for 36400. residual value at the end of an estimated

  How much larger or smaller would Simple Corp income

Assume that during 2000 Simple Corp. manufactured 5,000 units and sold 3,800. How much larger or smaller would Simple Corp income

  Determine the percentage allocation for appraised value

Without the buildings and improvements, the tract of land is valued at $1,770,000. How do you determine the percentage allocation for appraised value

  Favors distribution company purchases small imported

favors distribution company purchases small imported trinkets in bulk packages them and sells them to retail stores. in

  What would be the total amount of current assets

Equipment, $140,000; Accumulated Depreciation-Equipment, $40,000. What would be the total amount of Current Assets for this Balance Sheet

  Prepare journal entries to record each of the transactions

Determine balances after each transaction to show that the basic accounting equation balances and Prepare journal entries to record each of the transactions for Sanchez Company. Use the letter of the transaction in place of the date

  A company leases some of the equipment it uses the lease

a company leases some of the equipment it uses. the lease term is 5 years and the lease payment are to be made in

  Calculate diviney accounts receivable turnover

Ratio Analysis: Diviney Corporation's net sales and average net trade accounts receivable were $8,710,000 and $630,000, respectively.

  What is the adjusting entry to record accrued salaries

What is the adjusting entry to record accrued salaries at the end of June

  Why companies perceive the cost of external audits

Illustrate three (3) reasons why companies perceive the cost of external audits as a necessary evil to be driven down as low as possible

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd