What steps can you take to improve your financial condition

Assignment Help Management Theories

Reference no: EM131463554

Question: DEVELOPING CRITICAL-THINKING SKILLS

According to the experts, you must evaluate your existing financial condition before establishing an investment plan. As pointed out in this chapter, a personal balance sheet provides a picture of your assets, liabilities, and net worth. A personal income statement will tell you whether you have a cash surplus or cash deficit at the end of a specific time period.

Assignment: 1. Using your own financial information from last month, construct a personal balance sheet and personal income statement.

2. Based on the information contained in your personal financial statements, answer the following:

a. What is your current net worth?

b. Do you have a cash surplus or a cash deficit at the end of the month?

c. What specific steps can you take to improve your financial condition?

3. Based on your findings, prepare a plan for improving your financial condition over the next six months.

Reference no: EM131463554

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