Financial Advice for Cindy Brady

Creating Cindy's Net Worth Statement

To assemble Cindy's net worth statement, we will list her assets and liabilities:

Assets: Car ($15,000) + Personal Property ($5,000) + Checking Account ($1,500) + Savings Account ($500) = $22,000
Liabilities: Auto Loan ($17,000) + Student Loan ($12,000) + Credit Card Balance ($2,500) = $31,500
Net Worth: Assets ($22,000) - Liabilities ($31,500) = -$9,500 (Negative Net Worth)

Detailed Monthly Budget for Cindy

Cindy's monthly budget breakdown based on her actual expenses:

Budget: $3,293
  • Rent: $1,200
  • Student Loan Payment: $140
  • Auto Payment: $400
  • Auto Insurance & Fuel: $250
  • Utilities: $350
  • Groceries: $350
  • Entertainment/Miscellaneous: $500
  • Total Expenses: $3,190, leaving a surplus of $103

Analysis of Cindy's Financial Situation

Cindy's Net Worth: Negative $9,500

Current Ratio: Calculated based on assets and liabilities

Debt Ratio: Calculated based on total debt to total assets

Monthly Surplus/Deficit: $103 surplus

Rent Payment: In-line with her budget but could be optimized

Savings Rate: Calculate based on gross salary

Budget Goals: Analyze if Cindy is meeting her stated budgeting goals

Emergency Fund: Evaluate if Cindy's current fund is sufficient

Credit Card Debt: Reasons for delayed pay-off

Student Loan Repayment: Evaluate the current plan and suggest improvements

401(k) Delay: Discuss alternatives for starting retirement savings earlier

← Engaging one to one correspondence activity plan with preschool aged children A big company supporting small nonprofit firms through social entrepreneurship →